Web3 data company Space and Time has also been supported by blockchain oracle company Chainlink through its launch plan.
Web3 and tech companies participated in a round of financing for the data platform Space and Time, which aims to transform a central database into a trustless data source powered by smart contracts.
In an announcement sent to the media, Space and Time mentioned that it raised $20 million in strategic funds from investors such as Microsoft 's M12 fund (Microsoft's venture capital arm), Avalanche and Polygon. Investors also include Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Stratos, Hash CIB, Coin DCX, as well as other Web3 communities and angel investors . Nate Holiday, co-founder and CEO of
Space and Time, said he is excited about being supported by Microsoft's venture capital fund. He said the company is at the intersection of on-chain and off-chain data calculations. According to Holiday, it will work with partners to build a data ecosystem for decentralized applications and businesses. Michelle Gonzalez, an executive at
M12, said M12 is looking forward to seeing results and looking forward to seeing how centralized systems are automated and connected to smart contracts.
Space and Time is also working with blockchain oracle company Chainlink as part of its startup program that partnered with Chainlink. Chainlink co-founder Sergey Nazarov said the company will continue to support Space and Time's efforts to build a decentralized data warehouse.
At the same time, even if the market falls, the Web3 project is still gaining millions of investments. On September 13, blue-chip NFT Doodles announced that it raised $54 million in funding, pushing its valuation to $704 million.
Earlier this month, the creators of Sui Blockchain announced that they raised $300 million to speed up blockchain adoption and build their infrastructure. Mysten Labs, a company founded by former Meta employees, said it raised funds through a funding round led by FTX ventures.
