Due to its emphasis on data decentralization, Microsoft’s M12 investment fund recently sponsored a $20 million fundraising round for Web3 company Space and Time. The platform would provide consumers a gateway to Microsoft Azure’s blockchain information by integrating with the cloud computing service.
Microsoft Going All In On Blockchain
Yorke Rhodes, Microsoft’s Director of Planning and Transformation for Blockchain and Clouds Hardware Supply Chain, has said that the company plans to grow its blockchain team. Rhodes issued a call to action through Twitter, inviting anybody “concerned with Turing complete, rare programmable things” to apply.
The head of Microsoft’s blockchain initiative wrote a blog post in which he announced establishment of a new blockchain team. After six years of studying blockchain technology, Rhodes said, “I’ve never been more optimistic about this trip.”
The IT behemoth has already launched large-scale blockchain-based initiatives. For example, the second-layer application, ION, a decentralized identity solution, has been released on the Bitcoin network. After over Four years of work, its goal is to empower users to manage their own digital transactions via anonymous, distributed identities (DIDs).
Microsoft Partnerships With Web3
Web3 is currently among the most talked-about subjects right now. The impending digital revolution that will usher in the Web3 era and bring an end to the present Web2 era has recently been the subject of much discussion.
Consequently, many initiatives, companies, and major corporations are fighting to secure their place in the future digital world. Microsoft has lately joined this fray and formed partnerships with several such entities.
Microsoft and Astar
To help Astar Network create and execute the Web3 potential, Microsoft, among the world’s biggest technology businesses and a formidable market top dog in a broad range of industrial sectors with a plethora of products, recently stated that it will partake in the Astar Incubation Project. Microsoft and Astar will team up for the Astar Incubator Project. Microsoft’s Astar Incubation Program will help some startups compete in the growing global market by giving them resources, marketing help, and a network of mentors.
Simply put, the mission of the Astar Incubation Project is to foster the growth of promising and skilled enterprises in emerging areas of the Web3 domain. And to increase the uptake of the Astar Network by providing direct assistance, seed funding, mentoring, and access to a wide-ranging community. Now one of the top innovative and technology-driven companies in history. Microsoft is a member of the Astar Incubation Project. So the Astar ecosystem has even more cause to be watched in the future.
Microsoft and ENJIN
Microsoft and Enjin have released an NFT-based instructional game called Azure Space Mystery exclusively for members of the Azure cloud community. Players are given coding tasks and, upon completing them, are rewarded with Learner Badgers, a unique non-fungible token (NFT) that can be deposited into Enjin wallets.
The NFTs are distributed on the Ethereum platform and act as a kind of recognition for those who have contributed to the community. In addition, you may utilize them in the popular video game Minecraft!
Microsoft, Avalanche And Polygon
Space and Time, an ambitious data platform backed by Web3 and other internet firms, aspires to convert centralized systems into permissionless data sources propelled through smart contracts.
Recently Space and Time announced to Cointelegraph that it has secured $25 million in critical fundraising from investors including Microsoft’s M12 fund Avalanche, and Polygon. In addition to the aforementioned angel investors and Web3 communities, we have received funding from Framework, HashKey, Foresight, SevenX , Stratos,CIB, Coin, and others.
Space and Time founder and current CEO Nate Holiday is ecstatic to have Microsoft’s private equity arm behind the company. He said that the company was at the carossroads of “off-chain” and “on-chain” data computing. Holiday claims that it would work with its business partners to create a digital platform for distributed apps and corporations.
Microsoft and Meta
Microsoft stated in a previous article that the company is collaborating with Meta to offer its customers metaverse-based services. Microsoft Teams, the company’s enterprise software product, has enjoyed consistent growth over the decades, collecting a customer base of 250 million individuals who use it at least once per month.
It is now aiming to provide these customers with more interactive workplace solutions. Mesh, the firm’s hologram communication tool for Microsoft teams, is being ported over to Meta Quest VR headsets. Using this app, coworkers may have a meeting in a digital space, accessible through mobile phones, computers, and augmented reality goggles.
Blockchain Integration In Laptops
In 2018, Microsoft announced that their “Coco Framework” will be made available as a free and open-source application on the code hosting service GitHub. With the Coco Framework, we want to make blockchain a safe and practical solution for businesses to employ in verifying and distributing data and transactions.
Microsoft thinks it will be a good fit for the healthcare, financial, and retail sectors. This is why Microsoft has built the revolutionary ‘Coco Framework,’ which it released as open source on GitHub in 2018. By then, the company is expected it to have matured into an enterprise-ready platform that can securely process over 1,500 transactions every second without compromising on speed.
Microsoft has positioned itself as hesitant to customers while being a pioneer in blockchain gaming and minting each Xbox Live transaction as an NFT. Phil Spencer, Microsoft’s EVP of games, stated in 2021:
“Today on NFT, there’s a lot of conjecture and experimenting, and some creativity seems exploitive rather than entertaining. Every NFT game isn’t always exploitative. People are still learning. Anything exploitive in our shop would be removed, it isn’t acceptable. They’re probably not store-worthy.
The eagerness of big companies to become engaged with the movement to deregulate the internet is shown by Microsoft’s engagement in Web3. A Google group dedicated to developing Web3 and several other blockchain-based apps was launched earlier this year.
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