• Web3-focused fund VVF announced a $5 million investment in the Everscale blockchain.
• The investment aims to support the Web3 industry by solving its scalability issues.
• The funds will be used to help Everscale complete its goal of hiring more developers and increasing the number of projects.
The Venom Ventures Fund (VVF) recently announced that it had invested $5 million in the Everscale blockchain. This investment is intended to help the Web3 industry by solving its scalability issues and promoting further technological development.
The VVF is a Web3-oriented fund that was established by collaborating with Abu Dhabi-based Iceberg Capital Limited and Venom Foundation. According to a document seen by CryptoPotato, the $5 million investment is intended to help the Everscale company complete its goals of hiring more developers and increasing the number of projects.
VVF’s Chairman Peter Knez explained that this investment was a strategic one and was aimed at promoting technological development. He also added that VVF is committed to helping the Web3 industry and is confident that Everscale will be able to meet its goals with the additional funds.
Everscale is a blockchain-focused company that is dedicated to providing the Web3 industry with the tools and services it needs to achieve greater scalability and efficiency. The company has already built a number of projects such as the Everscale Network, a platform that allows developers to create and deploy distributed applications faster and easier.
With the investment from VVF, Everscale will be able to expand its services and hire more developers to work on projects. This will help the company to further its mission of providing the Web3 industry with the resources it needs for success.
The investment from VVF is a clear sign of the fund’s commitment to supporting Web3 projects. It is also a testament to the potential of the industry and the opportunities it presents for companies such as Everscale. By providing the resources necessary for success, VVF and Everscale can work together to promote the growth of the Web3 industry.