Binance makes a $15m investment in crypto game publisher
Binance makes a $15m investment in crypto game publisher
Binance's venture capital arm has invested $15 million in blockchain-based game developer Xterio.
Xterio develops and publishes free-to-play-and-own games. This approach means that the games are free to play while still allowing players to earn NFTs while playing.
The developer believes that blockchain technology will help improve gameplay. The company is also specifically focused on rewarding players, according to Cryptonews.
Currently, the company is developing 11 games, including games for both mobile devices and computers.
Interestingly, the company intends to use different blockchain systems in its games. Blocklords uses cryptocurrencies on Polygon, while Abyss World uses the Sui blockchain.
It is also noted that all funds raised will be used for game development and technology improvement. Xterio intends to integrate AI into its games.
It is worth noting that Binance said that blockchain gaming is one of the main activities of Binance Labs.
Binance said that the company supports game developers who integrate blockchain technology into the industry. Examples include game studio Gomble as well as Xterio.
It was also previously reported that Elon Musk had announced the creation of xAI, a competitor to ChatGPT.
