2024 was a historic year for Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF)which was highlighted by the significant progress achieved by its main investee Hivello Holdings.
The company’s stock has risen nearly 600% this year, reflecting growing momentum for its decentralized infrastructure investments, with the launch of Hivello’s passive income platform and the expansion of strategic partnerships.
Hivello public beta launch
One of Blockmate Ventures’ notable milestones in 2024 was the public beta launch of its passive income app Hivelo.
The Hivelo Windows app, which first launched as a private beta in May, has been a notable 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 (DePIN) network.
“DePIN is still a relatively new sector within Web3 and blockchain, and the term has been around for less than two years,” Dominic Carosa, president of Blockmate, told Proactive in November.
“We see this as a great opportunity to bring DePIN to the mass market.”
Launched in November, the beta version of the Hivelo app makes it easier for beginners to get to grips 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 steady growth of the user base. “The way we designed the app means you don’t need to be a cryptocurrency expert or tech enthusiast to use it,” Carosa said. “Just 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 the monetization potential of its platform.
These partnerships included collaborations with prominent players in the DePIN space, which not only expanded Hivelo’s user base but also created more ways for users to generate passive income.
By partnering 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 has also joined forces with Zulu, a Bitcoin Layer 2 innovator, integrating Bitcoin into the DePIN ecosystem and allowing users to earn the cryptocurrency directly on the platform.
The November integration with the U2U network, which processes more than 500,000 transactions per second, strengthens Hivello’s infrastructure and provides users with more passive income opportunities.
Furthermore, the XYO partnership has integrated the Hivello app with the world’s largest DePIN network, providing users with new ways to earn through computing power and geographic data.
Strategic location of Blockmate
Blockmate Ventures is strategically positioned to capitalize on the rapidly expanding DePIN sector, which is expected to reach $3.5 trillion by 2028.
The company’s significant investment in Hivello places it at the forefront of decentralized infrastructure solutions, in line with the growing demand for decentralized sharing of physical assets.
To strengthen 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 included the release of 14 million units, will support the company’s efforts to drive blockchain innovation and expansion. Its presence in DePIN, particularly through continued investment in Hivello and other emerging technologies.
What’s in store for 2025?
Blockmate CEO Justin Rosenberg is focusing on the company’s upcoming milestones as the new year approaches.
“From my perspective, the revolutionary launch of a high-yield token in the first quarter of next year is very exciting,” Rosenberg told Proactive in December.
“With just five minutes of setup, users can earn $50 a month from their GPU. Once launched, we aim to spread the word far and wide.”
“This has been our driving vision over the past two years: to deliver high-value passive income from a simple five-minute setup, providing access to cryptocurrency-generated income to anyone, regardless of their technical knowledge.”