A pivotal moment in the crypto gaming industry is upon us as Binance Labs, the investment sector of a much larger global crypto exchange, has pledged an astounding $15 million dollars to support Xterio, a blossoming Web3 game platform and publisher. The intended purpose for this generous funding will be to further Xterio’s drive for innovation, specifically within the realm of game and technology development, including artificial intelligence integration and the launch of its tokens.
This investment comes at a time when Binance Labs and similar investment arms of the cryptocurrency world have faced lingering regulatory scrutiny. Regardless, Binance Labs continues to forge forward, pouring funds into promising companies and successfully growing its assets to a remarkable $9 billion.
Xterio is known for its free-to-play gaming platform, along with a GameFi-as-a-service section which aids developer partners in the creation of third-party games. With this new financial backing, plans to broaden the platform’s AI-driven interactive experience and create a toolkit capable of producing consistent, high-quality 2D and 3D assets are now set in motion.
As stated by Yi He, co-founder of Binance and head of Binance Labs, “The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities.” This fresh investment not only endorses this growth but might also be seen as a testament to the power of combining experienced Web 2.0 professionals’ skills with Web3 expertise.
It’s worth noting that Xterio isn’t a novice in funding. The company previously raised a solid $40 million round in August 2022, co-led by Makers Fund, XPLA and now-defunct FTX Ventures. This latest strategic partnership with Binance Labs not only ensures Xterio’s forward momentum but also further integrates Xterio’s token into the BNB Chain ecosystem.
Undoubtedly, the path of progress for Xterio is shining brightly. Still, one might wonder if such unwavering belief in the future of AI within blockchain technology will genuinely pay off in the long term. As Binance Labs barrels forward, despite regulatory concerns, it’s clear that this bold move into AI-driven Web3 gaming is an example of the gamble that’s inherent in pushing the boundaries of technology and gaming as a whole. Only time will reveal the treasure or the travails that this investment might yield.
Source: Coindesk
