Binance Labs Invests $15 Mln in Blockchain Gaming Platform Xterio

Binance Labs, the venture capital and incubator arm of Binance, decided to invest $15 million in blockchain gaming platform Xterio.

The $15 million investment from Binance Labs will be utilized for game and technology development, with plans to explore AI potential in its game titles, according to the Cryptopolitan website.

Xterio is the publisher behind upcoming NFT and crypto games like Age of Dino and Overworld. It labels itself as a free-to-play-and-own game through which players can earn NFTs by playing its games. Therefore, Xterio believes that the deployment of blockchain technology would enhance the gaming experience.

“We believe that blockchain technology makes for a better gaming experience. And player ownership is a key aspect of every Xterio game,” Xterio said.

The startup supports the development of 11 games across different platforms, ranging from mobile Japanese role-playing games (RPGs) like Blackdawn to massively multiplayer online (MMO) PC games such as Blocklords and the RPG Abyss World.

Binance Labs revealed that Xterio seeks to develop an “emotion engine for artificial intelligence.” Xterio’s AI toolkit also aims to generate 2D and 3D game assets for developers. The startup is also using its AI tech to develop the digital companion game AIpal, which is slated to launch a closed beta later this year.

Binance Lab’s investment into Xterio shows that it pays the crypto gaming sector as the firm believes that blockchain gaming is a crucial area for application layers. Binance Labs also said that its investments are “chain and sector agnostic.

Last August, Xterio secured a $40 million investment from FunPlus, XPLA, and FTX Ventures (now defunct).