Search
Search
Binance Labs Invested $15 Millions in New Crypto Game Publisher

Binance Labs Invested $15 Millions in New Crypto Game Publisher Xterio Know the Details

1
0

447 Listen to this article Binance Labs, the venture financing and incubation division of the cryptocurrency trading platform Binance, revealed […]

Latest News

Listen to this article

Binance Labs, the venture financing and incubation division of the cryptocurrency trading platform Binance, revealed on Wednesday that it has invested $15 million in blockchain game publisher Xterio. A “free-to-play-and-own” game designer and publisher, Xterio embraces the popular free-to-play gaming paradigm while also allowing users to acquire NFTs through their use of its games.

The website for Xterio states, “We believe that blockchain-based technology makes for more enjoyable games. And a crucial component of every Xterio game is player control. Google will permit NFTs in Android Play Store applications and games. The firm is now funding the creation of 11 games that are featured on its official site, ranging from enormously interactive online (MMO) desktop titles including Blocklords and the simulation game (RPG) Abyss World to smartphone Japanese RPGs like Blackdawn.

Blocklords will debut its cryptocurrency components on Polygon, whereas Abyss World has its eyes set on the freshly created Sui blockchain. These developments suggest that Xterio is also adopting a multi-chain strategy for its blockchain videogames. According to Xterio, the money will be used to develop games and equipment as well as to investigate the possibility of incorporating artificial intelligence (AI) through its games.

The Investments in New Crypto Games 

Xterio is presently working on a “feeling engine for artificial intellectual ability,” according to Binance Labs. Additionally, Xterio’s AI toolkit seeks to provide 2D and 3D game components for programmers. The business is also utilizing AI technology to create the virtual companionship game AIpal, which will soon enter a closed beta.

Read Also:  Senate Overturns SEC Crypto Rule, Biden's Veto Looms as Next Hurdle

Funding for Xterio was provided by sources like FunPlus, XPLA, among the now-defunct in the FTX Ventures, totaling $40 million in August of last year. Early this year, Xterio contributed $2.5 million to Overworld, a global RPG game company run by Jeremy Horn, a co-founder of Xterio, and now working on its eponymous game.

According to co-founder of Xterio Michael Tong, “Binance Labs’ investment strengthens the potential to launch a revolutionary environment token plus high-quality games.” When asked if blockchain gaming was an important area for application layers, a representative of Binance Labs said to Decrypt that the company [believes] that blockchain gameplay is an important field for application layers.” Despite the fact that Binance itself is a cryptocurrency exchange that provides a wide range of tokens in addition to its own BUSD stablecoin or the BNB token, Binance Labs informed Decrypt that its acquisitions are “chain and sector agnostic.

Citing its stakes in the technology studio Gomble and Xterio, Binance Labs stated that it encourages conventional video game developers and companies entering the blockchain gaming market. The Xterio ecosystem is expanding quickly, and a wide range of cross-platform games are soon to be made available on PC and mobile devices. The Xterio internet site and marketplace will be used to distribute digital collectibles as part of the ecosystem. Featuring Age of Dino’s tactical depth, 3T’s fierce combat, and Overworld’s engrossing adventures, Xterio offers to a broad spectrum of gamers. We’ll soon learn more information about the first- and third-party games developed by Xterio.

A board of directors and a group of industry professionals in media and technology with extensive experience in free-to-play games created the Xterio Association in Switzerland. Its goal is to produce, market, and distribute top-notch Web2, Web3, and multimedia entertainment. Go to Twitter for further details.

Read Also:  Archax CEO Clarity on BlackRock's Role in Hedera Tokenization

Xterio is currently working on creating an AI toolset that creates 2D and 3D materials of production-level quality and consistency in style. All content providers belonging to the Xterio ecosystem will have accessibility to this technology, which aims to give customers relationship that goes above and beyond the utility typically connected with AI.

For the Latest Crypto News follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and Linkedin.

You Might Also Like

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

0
Would love your thoughts, please comment.x
()
x
Scroll to Top
Bitcoin ETFs Surge as Investors Seek Exposure Coinbase, Andreessen Horowitz, and Ripple have joined forces to fund a new crypto DMM Bitcoin Hit by $305M Hack Ripple Releases 1 Billion XRP Tokens What to Expect from Bitcoin’s Price Rally in H2 2024 Trump’s MAGA Coin Soars 7% While Biden Parody Sinks Amid Ex-President’s Trial — NFTs Hold Steady Analyst Warns About Dogecoin Decline CME Denies Solana Futures Plans Amid Growing Rumors Can PEPE flip Polygon? Market cap race heats up! Why Bitcoin Price Is Down Today? Cristiano Ronaldo Launches 4th NFT Collection on Binance Amid $1B Lawsuit Coinbase Alleges SEC Dodging Howey Test in New Appeal Ethereum ETFs Granted Official Approval by SEC Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase