Blockmate Ventures subsidiary Hivello partners with IoTeX: new blockchain integration
London, UK
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July 02, 2024 10:17 AM Eastern Daylight Time
Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) and Hivello chairman Domenic Carosa joined Proactive's Stephen Gunnion with details of Hivello's new strategic partnership with IoTeX.
Carosa explained that Hivello, a DePIN aggregation platform, will integrate the IoTeX blockchain, allowing new DePINs launched on IoTeX to be supported by Hivello. IoTeX, a leading layer one blockchain in the DePIN space with a market cap of $380 million, will promote Hivello to its global user base.
"Hivello is already in the process of integrating IoTeX because of the great DePINs on their blockchain," Carosa said, emphasizing the eco-friendly approach of DePIN and likening it to the sharing economy where users can share their computer resources and get paid, contributing to building a decentralized network.
Hivello targets consumers with spare desktops and laptops and plans to expand to enterprises. The company aims to create a vibrant and inclusive DePIN ecosystem, offering a sustainable alternative to throwing away unused tech devices.
Carosa also mentioned Hivello's recent $2.5 million raise and the ongoing $4.5 million raise at a $30 million pre-money valuation, co-led by Animoca Brands and Blockchain Founders Fund. The funds will be used to build technology infrastructure and acquire customers.
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