2024 was a landmark year for Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF), highlighted by significant advancements from its key investee Hivello Holdings.
The company’s stock has surged around 600% this year, reflecting the growing momentum of its decentralized infrastructure investments, with the launch of Hivello's passive income platform and the expansion of strategic partnerships.
Hivello's public beta launch
One of the standout achievements for Blockmate Ventures in 2024 was the public beta launch of Hivello’s passive income application.
The Hivello Windows app, which first launched as a private beta in May, saw remarkable success, with nearly 30,000 users joining the waitlist.
The platform simplifies Web3 DePIN mining, allowing users to generate passive income by contributing their unused computing power to the growing Decentralized Physical Infrastructure Network (DePIN).
"DePIN is still a relatively new sector within Web3 and blockchain—the term has been around for less than two years," Blockmate chair Domenic Carosa told Proactive in November.
"We see this as a huge opportunity to bring DePIN to the mass market."
Launched in November, the beta version of Hivello's app makes it easier for novices to engage with the DePIN ecosystem, helping to decentralize digital infrastructure while creating opportunities for users to earn income passively.
The app’s straightforward design and ease of use have contributed to a steadily growing user base. "The way we’ve designed the application means you don’t need to be a crypto expert or a tech enthusiast to use it," Carosa said. "You simply point, click, install it, and start earning. It’s that easy."
Partnerships drive growth
In 2024, Hivello also saw significant growth through a series of strategic partnerships designed to expand its reach and enhance its platform's earning potential.
These partnerships included collaborations with leading players in the DePIN space, which not only broadened Hivello’s user base but also created more ways for users to generate passive income.
Through a partnership with Mysterium Network, a decentralized VPN provider, Hivello users can earn income by sharing both computing power and internet bandwidth.
Meanwhile, the partnership with IoTeX introduced dual-mining, enabling users to mine both Hivello’s DePIN and $IOTX, boosting exposure across both networks.
Hivello also joined forces with Zulu, a Bitcoin Layer 2 innovator, integrating Bitcoin into the DePIN ecosystem and allowing users to earn cryptocurrency directly on the platform.
The November integration with U2U Network, which processes over 500,000 transactions per second, enhanced Hivello’s infrastructure and provided users with more passive income opportunities.
Further, the XYO partnership combined Hivello’s app with the world’s largest DePIN network, offering users new ways to earn through both computing power and geographical data.
Blockmate’s strategic positioning
Blockmate Ventures is strategically positioned to capitalize on the rapidly expanding DePIN sector, which is projected to reach $3.5 trillion by 2028.
The company’s significant investment in Hivello places it at the forefront of decentralized infrastructure solutions, aligning with the growing demand for decentralized sharing of physical assets.
Further solidifying its position, Blockmate closed a $1.4 million funding round in December, led by strategic investors including Antanas Guoga, known as Tony G. The offering, which involved issuing 14 million units, will support the company's efforts to lead in blockchain innovation and expand its DePIN presence, particularly through continued investment in Hivello and other emerging technologies.
What's in store for 2025?
Blockmate CEO Justin Rosenberg is focused on the upcoming milestones for the company heading into the new year.
"From my perspective, the revolutionary launch of a high-yielding token in Q1 next year is incredibly exciting," Rosenberg told Proactive in December.
"With just five minutes of setup, users could earn $50 a month from their GPU. Once it’s launched, we aim to spread the word far and wide.
"This has been our driving vision for the past couple of years: delivering high-value passive income from a simple five-minute setup, providing access to crypto-generated income for anyone, regardless of their technical knowledge."