M12 backs Dreamspace public launch on Coinbase Base

Microsoft’s venture arm M12 is backing the public rollout of Dreamspace, an AI no-code app builder that generates smart-contract applications on Coinbase’s Base Layer 2. Dreamspace converts user descriptions into working apps and automates smart-contract logic and deployment on Base.

The platform launched in beta last year and has produced more than 34,000 apps, including projects created by students in Indonesia. The beta period has ended and Dreamspace is now open to the public on Base.

Space and Time provides the data layer for Dreamspace. Microsoft led a $20 million investment in Space and Time in 2022. Space and Time indexes and verifies information using zero-knowledge proofs and stores data across a decentralized network of database validators to supply verifiable feeds at scale. Its data feeds were integrated into Microsoft Fabric last year.

Base is a Layer 2 network built to increase transaction throughput and lower fees compared with Ethereum mainnet. Dreamspace deploys smart contracts on Base to reduce deployment costs and handle higher transaction volumes.

Other projects are connecting AI agents with on-chain capabilities. Coinbase has supported AgentKit, a toolkit that gives AI agents secure wallets and blockchain interactions and supports the open-source x402 protocol. Crypto wallets, including Trust Wallet backed by Changpeng Zhao, are adding agent-like features for autonomous software actions.

Developers are also using general-purpose AI models to generate code. Models such as Anthropic’s Claude and Venice AI are being used to assist software development when builders need code help rather than full no-code generation.

Nate Holiday, co-founder of Space and Time, commented: “Space and Time was built to make verifiable data accessible to any application, at any scale. Dreamspace is where that infrastructure meets the people building the next wave of the internet. When the data layer handles itself, the only thing left to focus on is what you want to create.”

With M12 backing, public availability on Base and Space and Time handling the data layer, Dreamspace moves from beta into broader availability for creators on Base.