Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) announced that its investee Hivello has launched a public beta version of its passive income application.
The app, which simplifies Web3 Decentralized Physical Infrastructure Networks (DePIN) mining, allows users to generate passive income by utilizing unused computing power.
Since its private beta launch in May 2024, Hivello has attracted nearly 30,000 users to its waitlist.
Blockmate Ventures highlighted that the platform aligns with the growing DePIN sector, which is expected to reach $3.5 trillion by 2028 by offering a decentralized alternative to traditional systems.
“With DePIN becoming a key focal point for venture capital investment and development, Blockmate’s circa 50% stake in Hivello represents a unique opportunity to gain exposure to a promising platform at the forefront of this transformation,” Blockmate CEO Justin Rosenberg said in a statement.
“As Hivello prepares for its next phase of growth, Blockmate Ventures stands to benefit from the increasing interest in decentralized infrastructure solutions, further reinforcing the value of its investment in Hivello.”
Hivello chairman Domenic Carosa added: “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.”
The Hivello app is available at www.Hivello.com.