Binance Labs invests $15M in Xterio, a Web3 gaming firm

Binance's investment division, Binance Labs, has given $15 million to a Web3 gaming company called Xterio. Xterio plans to use this money to make games and to add more artificial intelligence to their technology.

The people who started Xterio have worked for big gaming companies like Electronic Arts and Activision. The support from Binance Labs will help Xterio build better games using artificial intelligence and Web3 technology.

According to a post on Binance's website, Xterio is growing quickly. The company uses artificial intelligence to connect free-to-play games with games on the blockchain. The money from Binance Labs will help Xterio improve their technology and make games faster. Binance co-founder Yi He said Xterio's team is very experienced. He also said that the money will help Xterio make games from its partners.

Michael Tong, who helped start Xterio, also made a speech saying, “With Binance Labs, we see a lot of potential. We want to be a top Web3 game maker that reaches people all over the world.” 

The money from Binance Labs will also help Xterio launch its own digital token, which will become part of the BNB Chain ecosystem and help Xterio grow. Xterio is also working on a tool that makes high-quality 2D and 3D graphics for games.