Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) CEO Justin Rosenberg recently sat down with Proactive to discuss Hivello's latest venture into the DePIN space.
Hivello, Blockmate's pioneering blockchain subsidiary, has announced the forthcoming launch of its native token scheduled for August 30, 2024. This development comes on the heels of securing $2.5 million in funding across two rounds, which has positioned Hivello as a standout in the rapidly evolving Web3 landscape.
The token launch aims to transform the DePIN ecosystem by leveraging existing computing power to enable users to mine cryptocurrencies effortlessly.
Rosenberg also highlighted strategic partnerships with leading agencies like Luna PR, Winn.Solutions, and Forgd, which are poised to amplify Hivello's visibility and operational capabilities ahead of the highly anticipated token release.
Proactive: Could you tell us about your subsidiary, Hivello, and their announcement of an upcoming native token launch in August? Let's start with some details about this announcement.
Justin Rosenberg: Sure. As you know, Blockmate builds companies from scratch, almost like a venture studio. Hivello is our first blockchain company that we’ve built, and we recently closed $2.5 million over two rounds, reducing Blockmate's shareholding to 67%.
Hivello’s investors, leading Web3 funds, view it as a clever, low-risk, high-return entry into the rapidly growing DePIN space. The plan for Hivello is to launch its token as a DePIN aggregator by the end of August.
How has Hivello’s creative app contributed to launching this project into its next phase?
Exactly. From our early learnings in DePIN, we’ve turned the traditional model on its head. Instead of building and distributing costly devices, we utilize people’s existing devices—laptops, desktops, etc. This innovative approach allowed Hivello to close that funding round, which was oversubscribed.
The last round's valuation implies that Blockmate’s 67% stake is valued at 8.1 cents per share, compared to our current price of around 4 to 5 cents. This means we're trading at a significant discount just to our Hivello asset. Plus, we have other projects in the pipeline as well.
You also announced in the news release that you will be working with several companies to raise awareness for the upcoming token launch in August. Can you elaborate on this?
Yeah, that's what's so great about assembling this cap table of leading Web3 funds. Each of them has extensive portfolios in the Web3 space, so they know what works and what doesn't. They have connections to the right PR, marketing, and growth hacking firms, token advisory firms, market makers, and centralized exchanges for listing.
We are thrilled to have this think tank and brain trust as part of the Hivello group. We connect with them to determine the best providers to use. We've put together a dream team: Winn.Solutions for marketing, Luna for PR and Forgd on the token side.
We've already started working with these groups and are really enjoying the urgency and excitement leading up to August.
Lastly, Justin, how important are the three partners you mentioned in helping the company navigate the DePIN space? What is the quickest way to get people to pay attention and understand the company's direction?
Yeah, that's what it's all about. We're currently in active strategy meetings, figuring out how we can onboard as many gamers with GPUs as possible. GPUs are currently the hottest asset out there. Everyone and all the different protocols want access to these GPUs and are offering great returns. We're essentially the aggregator facilitating this process.
We're collaborating with these groups to accelerate the onboarding of hundreds of thousands of gamers and GPUs as quickly as possible. That's our primary focus right now.