UAE based Venom Ventures Fund, a Web3 and blockchain innovation fund managed by Abu Dhabi-based investment fund manager Iceberg Capital Limited, has invested $5 million in Everscale, a premier blockchain platform that aims to solve the scalability issues bogging down the Web3 industry. The $5 million will be used by Everscale to expand its development teams and boost the number of projects. Everscale has been diligently working on expanding its reach and integrating its technology solutions in Asian countries over the past two years, while also building a strong community. Its dynamic sharding technology enables it to efficiently adapt to varying workloads, thus making it an easy and practical option for creating large-scale Web3 and other types of applications. Venom Ventures Fund Chairman Peter Knez, ex-CIO of BlackRock, said, “For us, this is a strategic investment aimed at the technological development of projects and teams around technologies that we focus on and activ...