Hyve Labs, a Web3 gaming startup, has raised US$2.75 million in pre-seed funding to support its development.

The funding round was led by Framework Ventures, with contributions from Volt Capital, Builder Capital, 32 Bit Ventures, and various angel investors.

According to chief executive officer and co-founder Lucas Fulks, the funding will be used to expand the team and improve infrastructure.

Planned initiatives include launching a testnet chain, releasing the first game, and developing on-chain assets.