VANCOUVER, British Columbia and AMSTERDAM, April 18, 2023 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (OTCQB: MATEF) ("Blockmate" or the "Company"), is pleased to announce that its 100% owned subsidiary Hivello has beta launched an innovative application that enables an addressable market of more than 100 million internet users to earn up to US$20 per month in passive income, simply by contributing their idle computing resources.

Hivello is an application that users can download on their phone or computer, and with one-click instantly run automated Web3 software in the background that pays passive income in their local currency on a monthly basis.

Blockmate Ventures CEO Justin Rosenberg commented, “Hivello is an innovative passive income generator which has the potential to gather global momentum very quickly. The opportunity for internet users to generate $20 a month from their unique IP address, in minutes, without any technical expertise is revolutionary. With Hivello being the bridge between the millions of target users and the growing number of Web3 protocols, Hivello is well placed to reach for the millions in recurring, high margin revenue targeted by its founders.”

Image 1: Hivello is the bridge between the rapidly growing Web3 sector and the millions of internet users wanting passive income.

Hivello users contribute resources such as hard disk space, bandwidth, or computer processing power to decentralized Web3 projects like Mysterium or Sia, while earning passive income. The application seamlessly acts as an orchestrator, arranging and optimizing the user's resources for maximum efficiency and reward, while contributing to the growth of the decentralized ecosystem. Hivello earns a margin of all revenue generated through the platform.

Image 2: Hivello’s dashboard provides real-time updates on a user's online status and earnings from each protocol.

Andrew Smith, CEO of Hivello, commented, "The launch of Hivello is a game changer for Web3 infrastructure, empowering a broad range of users to participate in the decentralized ecosystem. We estimate that an old laptop from 2015 can generate $20 a month worth of tokens. More tech-savvy users might utilize a $40 Raspberry Pi to do the same for a quick return on investment."

Smith added, "The experienced team behind Hivello has a proven track record of success in the blockchain and cryptocurrency sectors. We are confident that Hivello will accelerate the adoption of Web3 projects where mass adoption of Hivello is achievable based on the millions of people around the world that have an unused computer gathering dust, or even a newer computer that can be left on overnight to passively grow a crypto portfolio."

Hivello is currently invite-only for the beta launch but a full commercial launch is planned at Bitcoin Miami, the world’s largest cryptocurrency conference in May 2023 which will include a global marketing drive to draw attention to the opportunity for users to generate passive income through Hivello from their existing computers. In the meantime, users can sign up for the waitlist at hivello.io to be notified when the app becomes available to the public.

Comparing Passive Income Generators (Ease of Use vs. Return on Investment)

Image 3: A perceptual map of where Hivello’s sits when comparing other passive income earners compared to Hivello which can be set up in less than 10 minutes with no technical expertise

Hivello Marketing Material Example

Image 4: A mockup of marketing material that can be promoted digitally across emerging markets to drive mass adoption of Hivello to expand the decentralized network

As of April 2023, the combined market capitalization of prominent DePIN protocols exceeded US$12 billion, reflecting a 42% YoY increase [2]. Hivello's platform is well-positioned to capitalize on this growth and drive further adoption of Web3 technologies.

Join the Hivello Waitlist

[1] Source: Statista 2023
[2] Source: CoinGecko 2023

About Blockmate Ventures Inc.
Blockmate Ventures is a Web3 incubator/venture creator focussing on businesses that utilise blockchain technology and decentralization to provide greater utility, accessibility and sustainability around everyday services. Working with prospective Founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations, digital assets, and advisory to accelerate the incubation of projects towards monetization.

The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era and view Web3 technology as the vehicle for a democratised future. 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

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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9dd5cf58-e830-4d38-9908-394c4205549b

https://www.globenewswire.com/NewsRoom/AttachmentNg/1ea3b659-a6ca-4d6d-90de-727f2040dd5d

https://www.globenewswire.com/NewsRoom/AttachmentNg/749e75c5-0c7f-417b-b681-e1fa297f5dda

https://www.globenewswire.com/NewsRoom/AttachmentNg/0f9953ab-8dcb-46b1-ad45-5e6d020fe1fa