web3 game studio <a target="_blank" href="https://x.com/Hyve_Labs” target=”_blank” rel=”noopener”>Hyve Labs has raised $2.75 million in a pre-funding round led by <a target="_blank" href="https://x.com/hiFramework” target=”_blank” rel=”noopener”>Framework companies.
Also joining this financing round are Volt Capital, Builder Capital, 32 Bit Ventures and several angel investors from companies such as Zynga and InfiniGods. The company's main goal is to build a decentralized gaming ecosystem, which will allow for easier game development on blockchain platforms.
With the latest funding, Hyve Labs plans to expand its team, develop on-chain assets, and create a cross-chain gaming launcher.
Source: Hyve LaboratoriesWhat to expect from this latest financing?
Hyve Labs plans to use the $2.75 million to accelerate the development of its platform infrastructure and game rollup.
The rollup will leverage decentralized data availability services like EigenDA to enable seamless cross-chain integration. By connecting with social platforms such as Telegram, Discord and Farcaster, the gaming studio aims to offer more accessible and connected experiences for both developers and players. Additionally, the funding will support team expansion, including hiring talent to strengthen the company's technical and creative capabilities.
The studio is also focused on creating its first game and other on-chain assets as part of its goal of building a self-sustaining ecosystem. The integration of ai will be fundamental to the functionality of the platform, improving game mechanics, generating dynamic content and improving player interactions. ai will also be integrated into Hyve's internal development tools to streamline game creators' workflow, allowing them to focus on the more creative aspects of their projects.
“Backed by incredible investors like Framework and Volt Capital, this funding brings 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 player engagement while allowing developers and builders to innovate without limitations.”
When will the Testnet chain be launched?
While Hyve Labs has not yet revealed a specific date for the launch of its testnet chain, it has hinted that development is moving forward.
The company has also teased its first game, “<a target="_blank" href="https://x.com/Hyve_Labs/status/1877467818167611552″ target=”_blank” rel=”noopener”>BitByte”, which is expected to be published soon. More details about the release schedule, including the testnet chain and the game, are likely to be revealed in the near future.
This seed funding provides Hyve Labs with the resources to drive its vision of a decentralized gaming ecosystem and position itself for future growth in the web3 gaming sector.
