As a seasoned crypto investor with over a decade of experience under my belt, I must say that the recent $20 million Series A funding raise by Space and Time Labs is nothing short of exciting. Having witnessed the meteoric rise and fall of numerous blockchain projects, I have learned to discern between hype and genuine potential.
The data warehouse development company, Space and Time Labs, has secured a Series A investment of $20 million to expedite growth where artificial intelligence (AI) and blockchain technologies intersect.
Space and Time Labs, a development company based in Los Angeles, has obtained $20 million in Series A financing to speed up their work on combining artificial intelligence and blockchain technologies.
According to a press release on August 27 that was published on crypto.news, the investment round was spearheaded by a collective of investors which includes Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. Other investors such as DCG, F-Prime Capital, OKX Ventures, and Circle Ventures also took part in the funding process.
The funds are reportedly earmarked for boosting “technical design and product creation, as well as fostering growth within the ecosystem and community.” This recent investment increases Space and Time Labs’ funding to $50 million, expanding upon a previous strategic investment of $20 million led by Microsoft’s M12 Ventures in 2022.
Space and Time Labs allocates $50 million to boost smart contracts
Co-founder of Space and Time Labs, Nate Holiday, underscored their goal to make smart contracts more intuitive and versatile, stating that the company is dedicated to helping the community shape their future in an AI-driven world by offering the necessary tools for creating cutting-edge applications at the intersection of artificial intelligence and blockchain technology.
At the Chainlink Pregame event, ChiefBuidl shares some insights about smart contracts: They must be aware of in-game events to reward players on the blockchain.
— Space and Time (@SpaceandTimeDB) October 1, 2023
In 2023, Space and Time collaborated with Chainlink to leverage their oracle network, allowing web3 games to offer more complex on-chain rewards. Furthermore, this innovative startup has formed alliances with NVIDIA, AWS, Polygon, Avalanche, and several other key players in the industry, as showcased on their official website.
In the most recent financing stage, Space and Time Labs are given additional support in their mission to streamline web3 data environments. This objective corresponds with co-founder Nate Holiday’s aspiration for a future where transactions such as business logic, automation, and verification can be handled exclusively through smart contracts.
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2024-08-27 17:28