Blockmate Ventures' Hivello Partners with IoTeX for Blockchain Integration
TL;DR
Hivello's new partnership with IoTeX gives them an advantage in the DePIN space, tapping into a market cap of $380 million.
Hivello will integrate the IoTeX blockchain to support new DePINs, targeting global users while promoting an eco-friendly approach.
Hivello's partnership with IoTeX offers a sustainable alternative to throwing away unused tech devices, contributing to a vibrant and inclusive DePIN ecosystem.
Hivello's DePIN aggregation platform integrates the IoTeX blockchain, allowing users to share computer resources and get paid.
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Blockmate Ventures Inc's subsidiary Hivello has entered into a strategic partnership with IoTeX, a leading layer one blockchain in the DePIN space, boasting a market cap of $380 million. This collaboration aims to integrate IoTeX blockchain technology into Hivello's platform, supporting new DePINs launched on IoTeX and promoting them to a global user base.
Domenic Carosa, chairman of Blockmate Ventures, discussed the significance of this integration, highlighting Hivello's role as a DePIN aggregation platform. He emphasized the eco-friendly nature of DePINs, comparing it to the sharing economy where users can share their computer resources and get compensated, thus contributing to building a decentralized network.
Hivello primarily targets consumers with spare desktops and laptops but has plans to extend its reach to enterprises. The company's goal is to foster a vibrant and inclusive DePIN ecosystem, offering a sustainable alternative to discarding unused tech devices.
The partnership comes on the heels of Hivello's recent $2.5 million funding round and an ongoing $4.5 million raise at a $30 million pre-money valuation. The fundraising efforts are co-led by Animoca Brands and Blockchain Founders Fund. The capital will be utilized to develop technology infrastructure and customer acquisition strategies.
For more insights and updates from Blockmate Ventures and Hivello, visit Proactive's YouTube channel.
Curated from News Direct
