Web3 gaming platform Xterio will receive $15 million from Binance Labs. Binance’s venture capital division will help integrate AI technologies.
Switzerland-based Xterio positions itself as a “free to play and own” game developer and publisher. The company combines a free-to-play gaming model with an opportunity for players to earn non-fungible tokens (NFTs) as they play their games.
Xterio will use the $15 million investment from Binance Labs to support game and technology development and explore potential artificial intelligence (AI) integration into Xterio game titles.
“The Binance Labs investment enhances our ability to launch a transformative ecosystem of tokens and quality games.”
Michael Tung, Co-Founder, Xterio
Most notably, Xterio is developing an “Artificial Intelligence Emotional Engine”, a project that aims to imbue game characters with realistic and dynamic emotional responses, enhancing player immersion. Xterio’s suite of AI tools also strives to create 2D and 3D game assets, providing developers with efficient and cost-effective solutions.
Xterio is also leveraging its AI technology to create a digital companion game called AIpal, which is set to enter closed beta later this year.
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Previous Xterio funding rounds
Founded in Switzerland, the Xterio Foundation is made up of a board and a team of technology and entertainment experts with extensive experience in developing free-to-play games. The mission of the Corporation is to create, publish and distribute web2 and web3 games and interactive entertainment experiences.
The company’s founding executive team has significant experience in technology, web games, and entertainment, having previously worked for well-known companies such as FunPlus, Ubisoft, Krafton, Jam City, and NetEase.
This latest investment from Binance Labs follows Xterio’s successful funding round last August, which secured the company $40 million From notable investors such as FunPlus, XPLA, and FTX Ventures.
In early 2023, Xterio proves its confidence in the gaming market by investing $2.5 million in Overworld, the multiplayer RPG studio led by Xterio co-founder Jeremy Horn, which is currently developing headline.