Adaverse, a prominent venture fund and accelerator operating in Asia, the Middle East, and Africa, has announced a strategic investment in Sorbet, a pioneering Web3 platform focused on transforming the freelance market in the MENA region. This investment is part of a $10 million initiative aimed at fostering regional venture-building and aligning with the projected economic growth of 2.7% for the MENA region in 2024. Sorbet’s platform addresses the inefficiencies in the current $4 billion freelance market by leveraging blockchain technology to offer seamless payment solutions using stablecoins, particularly benefiting the unbanked through decentralized finance gateways. The co-founder of Sorbet, Rami Djebari, highlights the importance of Adaverse’s support in accelerating the platform’s development and market strategy. Vincent Li, founding partner at Adaverse, emphasizes the alignment of this investment with Saudi Vision 2030, seeing it as a step towards economic upliftment and diversification.

Venture Capital, Web3/Blockchain, Freelance/Digital Economy,MENA Region, Saudi Arabia