Blockmate subsidiary, Hivello, launches its passive income application in public beta
Rhea-AI Summary
Blockmate Ventures announces that its investee, Hivello Holdings, has launched a public beta version of its passive income application. The Hivello Windows app, which was private beta launched in May 2024, has attracted nearly 30,000 users to its waitlist. The platform enables users to generate passive income by utilizing unused computing power for Web3 DePIN (Decentralized Physical Infrastructure Networks) mining. According to Messari, the DePIN sector is projected to reach $3.5 trillion by 2028. Blockmate holds approximately 50% stake in Hivello, positioning itself to benefit from the growing demand for decentralized infrastructure solutions.
Positive
- Strong user interest with 30,000 waitlist subscribers
- Strategic positioning in DePIN sector projected to reach $3.5T by 2028
- Blockmate owns ~50% stake in Hivello, providing significant exposure to DePIN market
Negative
- None.
News Market Reaction
On the day this news was published, MATEF gained 16.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO , Nov. 19, 2024 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its investee, Hivello Holdings, has launched a public beta version of its passive income application at www.Hivello.com.
The Hivello Windows app was private beta launched in May 2024 and has generated significant interest with almost 30,000 users subscribing to the waitlist. The platform simplifies Web3 DePIN mining for novices that want to apply unused computing power to generate passive income and contribute to the growing global network of decentralised digital infrastructure.
The increasing prominence of Decentralized Physical Infrastructure Networks (DePIN) is further solidifying the opportunity for Hivello. DePIN enables the decentralized sharing of physical assets, offering an efficient, peer-to-peer alternative to traditional centralized systems. Messari projects this sector to reach
Domenic Carosa, Chairman of Hivello and Blockmate Board Director, said, “As the DePIN sector continues to gain traction, Hivello’s team is focused on adding more revenue generating DePIN’s to the Hivello platform allowing us to grow as the demand for decentralized infrastructure rises.”
Justin Rosenberg, CEO of Blockmate, said, “With DePIN becoming a key focal point for venture capital investment and development, Blockmate’s circa
About Blockmate Ventures Inc.
Blockmate Ventures is a venture creator focussing on building fast growing technology businesses relating to cutting edge sectors such as blockchain, climate and energy storage. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello and Sunified, digitising solar energy.
The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: www.blockmate.com.
Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe.
About Hivello
Hivello, led by distinguished blockchain payment solution pioneers, is dedicated to transforming the accessibility of decentralized services globally. Users can start earning tokens in minutes, as simply as installing an app – no wallet, blockchain, or web3 experience necessary.
As a pioneer in the Decentralized Physical Infrastructure Networks (DePIN) sector, Hivello stands at the vanguard of democratizing access to decentralized infrastructure.
Download our free passive income app at www.hivello.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Justin Rosenberg, CEO
Blockmate Ventures Inc
justin@blockmate.com
(+1-888-218-6863)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Information
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
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1 This would be the resulting holding after all the SAFE Notes from the past and the completion of the current investment round are converted into Hivello shares.
FAQ
What is the waitlist size for Hivello's passive income app (MATEF)?
What is the projected market size for DePIN by 2028 according to Messari?
What is Blockmate's ownership stake in Hivello (MATEF)?
