• Web3-Focused Fund VVF announced a $5 million investment in the Everscale Blockchain.
• The investment is aimed at the technological development of projects.
• The funds should help Everscale complete its goal of hiring more developers and increasing the number of projects.

The Web3-oriented Venom Ventures Fund (VVF) recently announced a $5 million investment in Everscale, a blockchain project aimed at solving scalability issues in the Web3 industry. The fund was established in collaboration with Abu Dhabi-based Iceberg Capital Limited and Venom Foundation.

Peter Knez, Chairman of VVF, stated the investment was a strategic move meant to aid the technological development of projects. Knez added the funds should help Everscale complete its goal of hiring more developers and increasing the number of projects.

The VVF investment is part of a broader effort to expand the Web3 industry. The fund is focused on finding and financing projects that provide solutions to scalability issues. It is also set to help projects find and develop new technologies, as well as to help them reach their long-term goals.

Everscale has already received a number of investments from venture capital firms, including Sequoia Capital, Lightspeed Venture Partners, and Polychain Capital. These investments have allowed the project to expand, hire more developers and increase the number of projects.

The $5 million investment from VVF is a major step forward for Everscale. The funds should help the project increase the scalability of its blockchain, allowing it to reach more users and increase its reach. The investment should also help the project continue to develop new technologies and expand its reach.

Overall, the VVF investment is a major boon for the Web3 industry. The funds should help increase scalability, allowing the industry to develop new technologies and reach more users. The investment should also help Everscale reach its goal of hiring more developers and increasing the number of projects.

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