Web3 gaming studio Hyve Labs has successfully raised $2.75 million in a pre-seed funding round, positioning itself to revolutionize blockchain-based gaming.
Major Investors and Funding Details:
The funding round was spearheaded by Framework Ventures, with additional participation from Volt Capital, Builder Capital, and 32-Bit Ventures. Notable angel investors from gaming giants like Zynga and InfiniGods also contributed to the round. The company’s primary focus is on creating a decentralized gaming ecosystem that simplifies game development on blockchain platforms.
Strategic Plans for the $2.75 Million:
Hyve Labs is planning to utilize the funds to accelerate its gaming infrastructure development, such as on-chain assets and a cross-chain game launcher. The company also plans to invest a substantial portion of the fund’s money into team expansion; the key selection criteria are technical expertise and creative talent.
One of the main innovations Hyve Labs is working on is a gaming rollup that will integrate decentralized data availability services like EigenDA. This technology will enable seamless cross-chain integration, connecting with social platforms such as Telegram, Discord, and Farcaster to create a more connected and accessible ecosystem for both developers and players.
Building a Decentralized Gaming Ecosystem:
Hyve Labs wants to create a self-sustaining gaming ecosystem that focuses on both player engagement and developer empowerment. This is achieved by integrating AI into its platform, which will improve game mechanics, generate dynamic content, and enhance player interactions. Internally, AI will streamline workflows for game developers, allowing them to focus on creativity rather than technical constraints.
“With the backing of incredible investors like Framework and Volt Capital, this funding propels us closer to redefining the gaming landscape,” said Lucas Fulks, CEO and Co-Founder of Hyve Labs. “Our mission is to create a gaming ecosystem that prioritizes fun and engagement for players while empowering developers and builders to innovate without constraints.”
Upcoming Developments: Testnet Chain and First Game:
Hyve Labs has not announced a particular date for the launch of its testnet chain, but the company has indicated that development is going well. The gaming studio has also teased its first game, “BitByte,” which is expected to be launched soon. More information about the testnet chain and the game launch will be shared in future updates.
Future Prospects in Web3 Gaming:
This pre-seed funding round is set to arm Hyve Labs with the resources to drive forward its vision for a decentralized gaming ecosystem. This company is seeking to look to cutting-edge blockchain and AI technologies as it looks to spearhead the growing, rapidly expanding, Web3 gaming sector.
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