Binance Labs Invests $15 Million in Gaming Web3 Project Xterio

Binance’s venture arm announced an investment of $15 million in the gaming Web3-platform and the publisher Xterio.

The Swiss company develops free-to-play and on-chain games. The funds will be used to grow the ecosystem, launch new projects, and integrate AI technologies.

Under the partnership, Binance will support the startup’s growth and will also integrate the platform’s native token into BNB Chain.

“This is a significant capital investment that confirms Binance Labs’ long-term view on Web3 gaming and recognises Xterio as a world-class gaming platform. The partner’s investments expand our ability to create a transformative token and high-quality games,” said co-founder Michael Tong.

Xterio is currently working on an AI-model generator for game models and an ’emotion engine for artificial intelligence’.

The startup’s team previously worked at game studios and publishers, including FunPlus, Ubisoft, Krafton, Jam City, NetEase and others. Among Xterio’s projects are the strategy Age of Dino and the online RPG Overworld.

Earlier in June, Mythical Games closed a $37 million funding round led by Scytale Digital.

In the same month, Argus Labs, a startup developing an SDK for creating functionally compatible blockchain games, attracted $10 million.