Web3-Focused VVF Bets $5 Million on Everscale Blockchain
• Venom Ventures Fund (VVF) recently invested $5 million in Everscale to aid its expansion efforts.
• The 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 and former CIO of BlackRock stated that this is a strategic investment aimed at the technological development of projects and teams around technologies that they focus on.
Web3-Focused Fund VVF Invests $5 Million in Everscale
Recently, Venom Ventures Funds (VVF) announced a $5 million investment in the Everscale blockchain, as part of their strategy to support Web3 technology. Peter Knez – VVF’s Chairman and former CIO of BlackRock stated that this is a strategic investment aimed at the technological development of projects and teams around technologies that they focus on.
The Financing Aims To Solve Scalability Issues
The financing aims to support the Web3 industry by solving its scalability issues which will help Everscale complete its goal of hiring more developers, increasing the number of projects, and expanding its global presence in Asia. The money will be sent in stages, depending on progress and other indicators.
Everscale’s Goal
Everscale has plans to integrate its blockchain solutions into Asia with a focus on establishing a strong community there. Moon Young Lee – Everscale’s head expressed his gratitude for this opportunity: “We are very excited about this new collaboration with VVF and look forward to working together with them to bring our blockchain technology solutions closer to real-world applications for consumers.“