“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.
By Bena Ilyas
Edited by Marco T. Lanz
Updated
3 mins read
Hyve Labs has captured the spotlight with a successful $2.75 million pre-seed funding round, signaling its ambitious plans to reshape the gaming world. Framework Ventures spearheaded the funding, which was supported by Volt Capital, Builder Capital, 32 Bit Ventures, and several angel investors, as the company officially announced in a recent X post.
1/ 🚨 We’re excited to announce that Hyve Labs has raised $2.75M in pre-seed funding from leading investors: @hiframework, @VoltCapital, @BuilderVC, @32BitVentures.
— Hyve Labs (@Hyve_Labs) January 16, 2025
Hyve is a gaming ecosystem that prioritizes fun and engagement for players while empowering developers and… pic.twitter.com/z6VJ7fIe2k
The company’s primary focus is developing a gaming rollup powered by cutting-edge decentralized technologies like EigenDA, which acts as a game launcher. With the ability to integrate on popular social platforms like Telegram, Discord, and Farcaster, Hyve Labs is not just about games—it’s about creating a comprehensive social gaming experience.
Hyve Labs plans to use the funding to expand its team and strengthen its core infrastructure. Lucas Fulks, CEO and Co-Founder of the company emphasized the support of prominent investors, including Framework and Volt Capital, as a key driver in advancing their vision.
“With the backing of incredible investors like Framework and Volt Capital, this funding propels us closer to redefining the gaming landscape,” said Lucas.
The firm aims to transform the gaming industry by focusing on creating immersive experiences for players and empowering developers to innovate without constraints.
Hyve Labs isn’t stopping at creating games; it’s setting a new standard for decentralized social gaming. The firm envisions a gaming ecosystem where players are at the center, driving both innovation and community-building. By leveraging advanced blockchain technology, Hyve aims to enhance interactions between gamers and developers.
The firm’s goal is clear—connecting gamers with exciting Web3 experiences while democratizing the gaming space. Aiming to make its platform more accessible, Hyve prioritizes seamless onboarding and distribution. As part of this vision, the company plans to launch its testnet chain and first game, along with other on-chain assets.
“The mission is clear, execution is imminent: Social GameFi experiences, seamless distribution and onboarding, Web3 native game mechanics, embedded AI,” said the company.
Hyve Labs sees artificial intelligence as a game-changer in the industry. “AI is transforming every industry, and gaming is no exception,” the company tweeted. They are utilizing AI not just for buzz but as a core component of their development strategy. This includes optimizing workflows, enriching gamer experiences, and adapting faster to market demands.
Fulks and Co-Founder Cori Grohman have also dismissed the idea that traditional “Web3 gamers” are the future. Instead, they are advocating for a “faster, smoother, and web-first” approach to gaming. Their philosophy, encapsulated in the concept of “Casual+,” focuses on creating engaging experiences that transcend typical gaming norms.
Hyve Labs efforts are part of a broader wave of interest in decentralized gaming platforms, highlighted by Framework Ventures’ earlier $2.5 million investment in energy-focused DePIN startup Starpower.
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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
