PANews reported on January 17 that according to The Block, Web3 game company Hyve Labs has completed a $2.75 million Pre-Seed round of financing, led by Framework Ventures, with participation from Volt Capital, Builder Capital, 32 Bit Ventures and many angel investors. Hyve Labs intends to use the funds to expand its team and develop core infrastructure, such as launching a testnet chain, the first game, and other on-chain assets.

According to reports, Hyve Labs has developed a game rollup built using technologies such as the decentralized data availability service EigenDA as a game launcher. The protocol also allows Hyve to be integrated into Telegram, Discord, Farcaster and other social platforms.