• The Web3-oriented Venom Ventures Fund (VVF) recently invested $5 million in Everscale to aid its expansion efforts.
• VVF’s financing aims to support the Web3 industry by solving its scalability issues and help Everscale complete its goal of hiring more developers and increasing the number of projects.
• Peter Knez – VVF’s Chairman, stated that this is a strategic investment aimed at the technological development of projects.
Web3-Focused Fund VVF Invests $5 Million in the Everscale Blockchain
The Web3-oriented Venom Ventures Fund (VVF) recently invested $5 million in Everscale to aid its expansion efforts. This strategic investment was made after collaborating with Abu Dhabi-based Iceberg Capital Limited and Venom Foundation.
Goals of Investment
The funding aims to support the Web3 industry by solving its scalability issues and help Everscale complete its goal of hiring more developers and increasing the number of projects.
Statement From VVF’s Chairman
Peter Knez – VVF’s Chairman, stated that this is a strategic investment aimed at the technological development of projects: “For us, this is a strategic investment aimed at the technological development of projects and teams around technologies that we focus on and actively develop. In particular, we are talking about the Venom blockchain project and its ecosystem which is planned to be launched soon and for which Everscale is a potential Layer 2 solution.”
Everscale Expansion Efforts
Everscale has already displayed intentions to expand its global presence with specific goals such as integrating their blockchain solutions in Asia and establishing a strong community there.
Investment Details
< p >The $5 million investments will be sent in stages depending on progress indicators. Moon Young Lee – Everscale’s CEO expressed his enthusiasm over the event: “We are very excited about our new partnership with Venom Ventures Fund, one of the leading funds focused on supporting innovative teams across emerging markets.”
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