TORONTO, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its investee, Hivello Holdings Ltd has partnered with XYO, the world’s largest DePIN (Decentralized Physical Infrastructure Networks), to increase the reach of the Hivello app while also creating additional passive income opportunities for XYO network users.
XYO operates 8 million nodes spread across more than 150 countries, with users of XYO’s COIN app spending an average of 3 hours per day to earn passive income. Similarly, the Hivello desktop app, which was publicly beta launched on November 19, 2024, provides a user-friendly interface that allows Hivello users to earn passive income from their unused computing power.
Through this collaboration, Hivello’s desktop interface and XYO’s mobile-enabled ecosystem will be combined to drive further passive income opportunities for users of both apps to turn their idle resources into income, whether through contributing geographical data or computing power.
Justin Rosenberg, CEO of Blockmate Ventures, commented, "Since launching their desktop app earlier in the month, Hivello has seen a strong uptick in users and subscribers. Such interest is only the start of Hivello’s potential as they expand the Hivello partner network through collaborations with leaders in the DePIN space like XYO.
“In just a few years, XYO has changed the lives of users in developing countries by offering them a passive income source so by combining Hivello’s interface with XYO’s network, we are incredibly excited by this partnership.”
Below is the press release from Hivello:
Hivello + XYO: helping people in emerging markets earn on their mobile and desktop devices
California & Amsterdam, November 27th, 2024 – Hivello, a platform dedicated to aggregating DePIN (Decentralized Physical Infrastructure Networks) projects, and XYO, the original DePIN, are joining forces to stimulate cross-pollination amongst their users by teaching them how to leverage their hardware devices to generate additional income.
Hivello empowers users to participate in multiple DePIN networks effortlessly by connecting their computer hardware to revenue generating DePIN networks. The platform removes the complexity traditionally associated with decentralized infrastructure, allowing users to earn passive income with their spare hardware in just a few clicks of installing the Hivello desktop app. By aggregating DePIN projects, Hivello creates a gateway for users to contribute to decentralized networks without technical barriers.
XYO, the world's first and largest DePIN, collects, verifies, and adds context to data for use in a wide variety of Web2 and Web3 projects. Originally designed to provide proof-of-location, proof-of-origin, and geospatial context, XYO continues to provide tamper-proof geospatial data verification for its partners. Through its COIN app, XYO enables users to participate seamlessly in the XYO ecosystem, with over 8 million nodes across 150 countries, spending an average of 3 hours in the COIN app daily. By allowing smartphone users to earn through data collection, XYO has made life-changing impacts—helping participants pay off mortgages, start businesses, and connect entire communities to the global data economy.
Hivello and XYO’s partnership is built on shared values — both projects are driven to create opportunities for people in emerging markets like Africa and Asia by empowering users to use their consumer devices to earn extra income.
Together, Hivello and XYO seek to build a decentralized ecosystem that benefits everyone — from Web3 enthusiasts to everyday users. By combining Hivello’s desktop interface and XYO’s mobile-enabled ecosystem, users can effortlessly turn their idle resources into income, whether through contributing geographical data or computing power. This collaboration strengthens each project’s commitment to decentralization and ensures that users can contribute to and benefit from decentralized infrastructure with ease.
For users, this means increased earning potential with seamless access to passive revenue, fewer technical barriers, and the ability to benefit from these new decentralized economies.
"By combining XYO’s proven DePIN network with Hivello’s accessible DePIN desktop platform, we’re unlocking new earning potential for users around the globe. This collaboration is a testament to the transformative power of decentralized infrastructure in building economic opportunities for everyone, everywhere," said Markus Levin, Co-founder of XYO.
“Our partnership with XYO is a natural fit, as we both believe in the transformative potential of decentralized infrastructure. By collaborating with the XYO platform, we are creating a more robust ecosystem where users can maximize their resources and earn while actively supporting the growth of both our decentralized networks,” said Domenic Carosa, Co-founder and Chairman of Hivello.
(ENDS)
About Blockmate Ventures Inc.
Blockmate Ventures is a venture creator focussing on building fast growing technology businesses relating to cutting edge sectors such as blockchain, climate and energy storage. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello (download the free passive income app at www.hivello.com) and Sunified, digitising solar energy.
The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: www.blockmate.com.
Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe.
About Hivello
Hivello is an aggregator of DePIN projects that allows any user to participate in a variety of DePIN networks with just a few clicks. This eliminates the technical hurdles that many users face when trying to join these networks, and allows users to generate an extra source of income by mobilizing their idle computers. We aim to create a simple app that allows users to contribute their computer resources with no technical knowledge required. It's as easy as downloading, installing, and running nodes, making complex technologies accessible and beneficial to all.
For more information about Hivello and to stay updated on its developments, visit www.hivello.com
About XYO
XYO is a Decentralized Physical Infrastructure Network (DePIN) offering a comprehensive ecosystem of consumer software, developer tools, a decentralized network, and digital assets. XYO facilitates data aggregation, validation, and use, empowering participants with data sovereignty and rewarding them with the XYO token. The ecosystem supports applications in AI, metaverse environments, and data analytics with immutable blockchain data.
ON BEHALF OF THE BOARD OF DIRECTORS
Justin Rosenberg, CEO
Blockmate Ventures Inc
justin@blockmate.com
(+1-888-218-6863)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Information
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
