Microsoft does not want to miss the announced Web3 revolution and is increasing investments in start-ups in the sector. The latest concerns the Californian start-up Space and Time, which is developing a decentralized data analysis platform.
The company’s approach, born only a few months ago, caught the eye of Microsoft, which decided to lead a $20 million round through its venture capital fund M12. The transaction values the start-up at $300 million.
Getting Started with Running Web3 Applications
By betting on Space and Time, Microsoft intends to provide customers of its Azure platform with a ramp for accessing, managing and analyzing data from the blockchain. This is one of the first steps of the Redmond firm to develop and run Web3 applications in the new computing era that is opening up.
Microsoft had invested earlier in 2022 in ConsenSys, which specializes in blockchain. Created by Joseph Lubin, co-founder of Ethereum, it is seen as one of the major companies that will power Web3, aiming to achieve a decentralized version of the internet based on blockchain technology. But the Web3 has not really emerged yet that Jack Dorsey already proposes the concept of Web5, which would give Internet users power over their identity and their data in an entirely decentralized universe.