Binance Labs invests $20M in Web3 game publisher Xterio

Web3 game publisher Xterio

Binance Lab, the venture capital arm of major crypto asset (virtual currency) exchange Binance, announced on the 13th that it has invested $15 million (approximately ¥2 billion) in Xterio, which is working on publishing Web3 (decentralized web) games. .

Xterio is focused on building a publishing platform for Web3 games, and is also nurturing new game projects. Its core members consist of Web2 and Web3 experts and are led by experienced game developers.

Members come from well-known game development companies such as FunPlus, Electronic Arts, and Activision Blizzard, and are said to have deep expertise in developing and publishing profitable free social games for PC and mobile.

Binance Labs’ investment is aimed at a long-term strategic partnership with Xterio, with plans to boost Xterio’s growth and integrate its tokens into the BNB Chain ecosystem. “Binance Labs’ investment will further strengthen our ecosystem token and high-quality game development capabilities,” said Michael Tong, co-founder of Xterio.

Xterio plans to use the funding to accelerate the development of the games it supports, as well as to further integrate artificial intelligence (AI).

Currently, Xterio is developing an AI toolkit to generate high-quality 2D and 3D items, with AI acting as an “emotional engine”. These can be utilized by content partners within the Xterio ecosystem, making it possible to provide users with a higher value-added experience.

connection:Binance Labs Announces Finalists for Web3 Startup Support

Binance Labs Belief

According to the information on the website, the projects currently supported by Xterio include the anime-style turn-based battle RPG “Blackdawn”, the massively multiplayer online (MMO) PC game “Blocklords”, and the car racing and shooting PVP game ” TTT”, including all 11 games.

In addition, Xterio has set multi-chain support for blockchain as one of its strategies, and has launched a metaverse “Blocklords” with the theme of medieval Europe as Polygon (MATIC), and a battle-style action game “Abyss World”. It is planned to be adopted for the Sui blockchain.

The specific dates for these game releases will be announced in the near future.

Last August, Xterio raised $40 million from a group of investors including the bankrupt FTX Ventures. Earlier this year, the company invested $2.5 million in Overworld, a multiplayer RPG game studio run by Xterio co-founder Jeremy Horn, to develop a game of the same name.

Binance Labs has publicly stated its support for traditional game developers and studios looking to enter the blockchain gaming space. The company made a seed round investment in game studio Gomble, a subsidiary of South Korean casual mobile game publisher 111Percent, in April.

Since 2018, Binance Labs has invested in over 200 projects across six continents, with total assets of $9 billion and an investment return of 1260%. In addition, it has fostered over 50 projects for Web3, including Polygon, Perpetual Protocol, and Dune Analytics, through the Binance Labs Incubation Program.

In March 2011, the Web3 version of “Oasis Origin” was released on the public blockchain BNB Chain operated by Binance. “Oasis Origin” is attracting attention for its roadmap that utilizes OpenAI’s language model “GPT4”.

For example, we plan to implement “AIAS (AI Alter-Self)”, which learns the behavior, way of speaking, and interactions of users on Oasis Origin, and functions as an alter ego that mimics the user’s personality. AIAS allows AI to continue acting in the Metaverse on behalf of the user even when the user is offline.

connection:BNB Chain’s metaverse “Oasis Origin” can create copy users with US OpenAI technology

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