As per the recent development, Binance Labs is all set to invest $15 million into the blockchain game publisher, Xterio. Xterio bills itself as a free-to-play-and-own game developer and publisher, and this suggests that it is currently on its way to embracing the free-to-play gaming model. At the same time, players would also be rewarded with NFTs for playing these games.
According to the platform’s website, Xterio claims that the integration of blockchain technology would revolutionize the gaming experience, and further states how player ownership is a fundamental aspect of every Xterio game. Xterio also offers a GameFi-as-a-service product that enables developer partners to create third-party games.
The startup plans to focus on the expansion of its AI-powered interactive experience and also develop an AI toolkit that can create consistent production quality 2D and 3D assets. Similarly, the startup is currently supporting the development of almost 11 games as listed on its website, which range from mobile Japanese role-playing games to massively multiplayer online PC games.
Is Binance Labs’ Investment in Xterio Worth it?
As per the statement of Binance Labs, the startup is currently in the process of developing an emotional engine for artificial intelligence. Xterio is also harnessing the power of its AI technology to develop a digital companion game.
The co-founder of Binance and head of Binance Labs, Yi He stated:
“The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities. The Xterio core team brings together experienced Web2 professionals with Web3 expertise; we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”
Not too long after making the deal, the co-founder of the startup, Michael Tong, stated that the investment of Binance Labs would boost the firm’s ability to launch a transformative ecosystem token as well as high-quality games. Similarly, Binance Labs mentioned that blockchain gaming is a key area for application layers.
As Xterio has stated that it would take a multi-chain approach to blockchain games. One of its games, Blocklords, would launch its crypto assets on the Polygon chain, whereas another game, Abyss World, has recently set its eyes on the recently launched SUI blockchain.
Despite Binance being a crypto exchange that offers a series of tokens, it believes that investments are simply chain and sector-agnostic. Binance Labs made it evident that it openly supports the traditional game developers and studios that are transitioning into the gaming space. However, these comments were made citing its investments in gaming studios like Gomble and Xterio.
