Binance Labs Invests $15M in F2P Startup Xterio

Binance Labs, the venture arm of the crypto exchange giant, which is valued at $9 billion, announced that it is investing a sum of $15 million into Xterio, a web3 gaming startup based in Switzerland.

Xterio is focused on developing free-to-play and blockchain powered gaming experiences, with plans to integrate AI capabilities and token launches in their upcoming games.

No details in terms of the valuation of this round have been disclosed, however a Binance spokesperson commented that the round is already completed.

Co-founder and head of Binance Labs, Yi He expressed his enthusiasm by saying “The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities.”

He also noted that they are looking forward to closely working with the company’s experienced Web2 professionals and Web3 experts to enable gamers around the world to enjoy rich on-chain gameplay.