Microsoft is not betting lightly on cryptography. M12, Microsoft’s venture capital fund, invested $20 million in Space and Time in 2022. Now, that bet is paying off in a direction no one imagined coming. Space and Time has just launched Dreamspace, a no-code AI app builder that allows anyone to build and deploy a fully functional on-chain app without writing a single line of code. It’s a big problem. Let’s talk about why.
What is Dreamspace?
Dreamspace was built using Microsoft’s Azure AI Foundry and Azure OpenAI, with front-ends hosted on Azure and smart contracts deployable on any EVM-enabled blockchain. You describe what you want to build. The platform automatically generates a working application, including smart contract logic. No developer required.
Every smart contract generated by Dreamspace is fully auditable. Creators and their users can see exactly how the app performs on-chain. No black boxes.
The data layer below runs on Space and Time’s verifiable infrastructure. The same infrastructure that the industry’s financial applications trust. So the apps you build inherit this security from day one.
Now, that’s not the whole story.
The base brings Dreamspace to life
Dreamspace uses Base, Coinbase’s Layer 2 network, by default. Space and Time cited transactions costing less than a penny and confirmations in less than a second.
This is important for founders trying to build real businesses. Low fees and quick completion mean you’re not spending your users’ money on gas every time they interact with your app. Eric Brown, head of AI developer relations at Base, made it clear: the goal is to make starting a blockchain business as easy as having an idea worth building.
That’s a simple way to describe it.
Beta version numbers
According to the Space and Time team, more than 34,000 apps were created by early adopters during the beta period leading up to today’s public launch.
Here’s the kicker. According to the Space and Time team, Indonesian schools have used Dreamspace to create new AI labs and curricula, with one initiative aiming to reach more than 140,000 students. It is not a tool sitting on a shelf. People are already using it.
Why the Microsoft Angle Matters
Microsoft doesn’t bet $20 million without a thesis. Michael Stewart, managing partner of M12, said Space and Time has spent years building infrastructure capable of supporting the most demanding AI and blockchain financial applications. Dreamspace puts this foundation to work for a completely different type of builder.
Think about what this means. Space and Time began as infrastructure for on-chain finance. Tokenized assets, stablecoins, institutional DeFi. Serious and high-stakes applications. Now they’re opening up the same stack to anyone with a browser and an idea.
Better infrastructure, wider access. That’s the bet.
What to watch
Dreamspace is now live at dream.space. The public launch follows a beta release that has already proven there is demand. The Microsoft and Base partnerships give it simultaneous credibility at the institutional and developer level. TThe question worth asking is whether no-code blockchain tools are finally getting mainstream traction, or whether they remain a niche construction toy. With 34,000 apps created before the public launch, it’s a stronger start than most.
This one is worth watching.
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