Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) shares were on track to close out the week on a high note after the technology-focused venture creator announced a partnership between its subsidiary Hivello and XYO, a global leader in Decentralized Physical Infrastructure Networks (DePINs).
This collaboration aims to enhance the reach of the Hivello app and create new passive income opportunities by integrating Hivello's desktop app, launched in beta on November 19, with XYO’s ecosystem of 8 million nodes across 150 plus countries.
This partnership will allow Hivello to expand its reach and customer base, Hivello co-founder and chairman Domenic Carosa told Proactive.
“XYO is one of the largest DePINs—DePIN stands for decentralized physical infrastructure networks. We've signed a partnership deal that’s focused specifically on the African and Asian markets,” Carosa said.
He likened Hivello as a DePIN aggregator to Airbnb “but for your computer.”
“On Airbnb, you rent out a house or room to earn money; with Hivello, people can rent out their computer's processing power and get paid, whether in tokens, stablecoins, or cash. It’s essentially earning passive income from your laptop or desktop,” Carosa said.
Canadian-listed shares of Blockmate Ventures had gained nearly 28% over the past five days to close out Friday’s trading session at $0.12.