1. BITBILIHome
  2. Article

Binance Labs invests $15 million into blockchain gaming platform Xterio

• 54 views

TL;DR Breakdown

  • Binance Labs has made a $15 million investment into blockchain gaming platform Xterio.
  • Xterio says AI integration and multi-chain development are its focus.

Description

Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain … Read more

Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain technology enhances the gaming experience, with player ownership being a crucial element in every Xterio game.

Binance Labs shows support with investment in Xterio

Currently, Xterio is supporting the development of 11 games across various platforms. These range from mobile Japanese role-playing games (RPGs) like Blackdawn to massively multiplayer online (MMO) PC games such as Blocklords and the RPG Abyss World. Notably, Xterio adopts a multi-chain approach to blockchain games, with Blocklords launching its crypto elements on Polygon and Abyss World targeting the newly launched Sui blockchain. The $15 million investment from Binance Labs will primarily be utilized for game and technology development. Xterio also intends to explore potential artificial intelligence (AI) integrations within its game titles.

One of Xterio’s notable initiatives is the development of an “emotion engine for artificial intelligence,” as revealed by Binance Labs. Xterio’s AI toolkit aims to generate 2D and 3D game assets for developers, enhancing their creative capabilities. Furthermore, the startup employs its AI technology to create a digital companion game called AIpal, which is set to launch a closed beta later this year.

Xterio focuses on AI integration and multi-chain development

Last year, Xterio secured $40 million in funding from investors such as FunPlus, XPLA, and FTX Ventures (now defunct). In early 2023, Xterio also invested $2.5 million in Overworld, a multiplayer RPG game studio led by Xterio co-founder Jeremy Horn, which is actively developing its namesake title. Michael Tong, the co-founder of Xterio, expressed enthusiasm about the investment from Binance Labs, emphasizing that it strengthens their ability to launch a transformative ecosystem token and deliver high-quality games.

While Binance Labs’ investment in Xterio demonstrates a focus on the crypto gaming sector, a spokesperson clarified that the firm views blockchain gaming as a crucial area for application layers. Binance Labs stated that its investments are “chain and sector agnostic,” emphasizing support for traditional game developers and studios venturing into the blockchain gaming space. This commitment is evident through Binance Labs’ investments in game studio Gomble as well as Xterio.

The investment from Binance Labs not only provides Xterio with financial resources but also signifies validation and support for their vision of merging blockchain technology and gaming. With the incorporation of NFT rewards and a commitment to player ownership, Xterio aims to revolutionize the gaming industry. By leveraging multiple blockchain networks and exploring AI integration, Xterio strives to enhance the gaming experience while empowering developers to create immersive and engaging worlds.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Binance Labs invests $15 million into blockchain gaming platform Xterio

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月14日 09:21
Next 2023年7月14日 10:01

Related articles

  • Diverse perspectives in BRICS over expansion plans

    TL;DR Breakdown The upcoming BRICS summit will focus on the potential expansion of the alliance, with China pushing for growth and other members like India and Brazil showing reluctance. The discussions on enlargement reflect BRICS’ growing global influence, and the decision could position the alliance as a counterweight to the U.S. and the EU. The diverse perspectives within BRICS on expansion may either foster unity or sow discord, marking a defining moment in the alliance’s history. Description As the international scene continues to evolve, the robust alliance known as BRICS (Brazil, Russia, India, China, and South Africa) finds itself at a crossroads. Set to convene this month in Johannesburg, the upcoming summit has been marked by an overarching question: Should BRICS expand? With China pushing for rapid growth and other member nations … Read more As the international scene continues to evolve, the robust alliance known as BRICS (Brazil, Russia, India, China, and South Africa) finds itself at a crossroads. Set to convene this month in Johannesburg, the upcoming summit has been marked by an overarching question: Should BRICS expand?…

    Article 2023年8月5日

  • Stronghold company requests the use of tire-derived fuel for crypto mining in Pennsylvania

    TL;DR Breakdown Pennsylvania-based cryptocurrency mining company, Stronghold Digital Mining, is in the process of seeking approval to utilize shredded tires for generating up to 15% of its energy at its Panther Creek plant in Nesquehoning. Stronghold cites the approval granted by the United States Environmental Protection Agency (EPA) for this energy source’s use in other industrial facilities within the state of Pennsylvania.  Local environmental advocates are questioning the legitimacy of these facilities and are adamant that granting such permission to a crypto-mining operation should not be entertained. Description Pennsylvania-based cryptocurrency mining company, Stronghold Digital Mining, is in the process of seeking approval to utilize shredded tires for generating up to 15% of its energy at its Panther Creek plant in Nesquehoning. However, this move is met with opposition from local environmental activists who are gearing up to challenge the initiative. While Stronghold filed … Read more Pennsylvania-based cryptocurrency mining company, Stronghold Digital Mining, is in the process of seeking approval to utilize shredded tires for generating up to 15% of its energy at its Panther Creek plant in Nesquehoning. However,…

    Article 2023年8月30日

  • Americans have funneled $756b into cash funds this year

    TL;DR Breakdown American investors have funneled a staggering $756 billion into cash funds this year, drawn by high yields and concerns over the stability of banks. The trend of investing in money market funds continued with an influx of $23.1 billion just in the past week, according to financial data company EPFR. Rising interest rates have increased the appeal of these funds, which invest in short-term, highly liquid debts, such as government-issued ones. From the serenity of safe havens to the captivating allure of juicy yields, America’s financial landscape has witnessed an unprecedented movement of capital. This year, an impressive $756 billion has cascaded into cash funds, affirming the nation’s evolving investment culture, according to Bank of America’s recent note. The reason for this burgeoning trend reflects both a craving for appealing yields and a gnawing apprehension surrounding the stability of banks. Chasing lucrative yields amidst banking concerns Continuing a trend that has emerged strongly this year, a whopping $23.1 billion streamed into money market funds just in the week leading up to Wednesday. The data, as revealed by financial…

    Article 2023年6月2日

  • Coinbase could be the weapon formed against BTC ETFs approval

    TL;DR Breakdown Market analysis shows that entities partnering with Coinbase for a Bitcoin ETF could face trouble rather than success. Lawyers following the Coinbase – SEC situation closely point out that they “don’t think it’s necessarily a badge of honor to say that you’re using an entity that the SEC is suing.” There remains a notion that the SEC under Gary Gensler will not waive their stand on BTC ETFs regardless of who files them. Description Here’s a long story short – the SEC went after Coinbase and Binance.US in June, and all hell broke loose in the crypto ecosystem. Soon after that, market behemoth BlackRock filed for Bitcoin ETF and named Coinbase as their security service provider. And for a while, all seemed to work out best for the American … Read more Here’s a long story short – the SEC went after Coinbase and Binance.US in June, and all hell broke loose in the crypto ecosystem. Soon after that, market behemoth BlackRock filed for Bitcoin ETF and named Coinbase as their security service provider. And for a while,…

    Article 2023年7月14日

  • Coinbase is so confident it will beat the SEC – Why?

    TL;DR Breakdown Coinbase is confident in winning the ongoing lawsuit against the SEC. The legal battle signifies a challenge to the existing regulatory framework governing digital assets. Coinbase’s stance is a conscious effort to redefine regulation, seeking clarity, fairness, and alignment with industry evolution. Description Coinbase, the prominent U.S.-based cryptocurrency exchange, is poised and ready to face down the U.S. Securities and Exchange Commission (SEC). But what fuels this bold confidence? Are they merely posturing, or is there a valid reason behind their unflinching assurance of victory? It’s time to break down why Coinbase believes it will come out triumphant … Read more Coinbase, the prominent U.S.-based cryptocurrency exchange, is poised and ready to face down the U.S. Securities and Exchange Commission (SEC). But what fuels this bold confidence? Are they merely posturing, or is there a valid reason behind their unflinching assurance of victory? It’s time to break down why Coinbase believes it will come out triumphant against the federal regulator in the ongoing lawsuit. Standing up against the SEC From the moment the SEC filed its lawsuit against…

    Article 2023年8月5日
TOP