Microsoft takes a deep dive into investing in Web3 technologies, partners with blockchain startup ConsenSys and Astar Network

Microsoft's involvement demonstrates the world's largest tech firms' growing interest in Web3, a vaguely defined term referring to attempts to create a decentralized internet based on blockchain technology.

It's a buzzword that's attracting a lot of attention among Technology Companies. According to CB Insights data, blockchain startups raised a historic high of $25 billion in venture capital globally last year. Other tech behemoths looking into Web3 include Facebook parent company Meta and Twitter.

Startup blockchain company ConsenSys recently closed $450 million in new funding round, bringing its total valuation to $7 billion. According to ConsenSys, the funding was led by ParaFi Capital, with Microsoft, Japan's SoftBank, and Singapore's Temasek also entering as new investors.

ConsenSys is a New York-based startup founded in 2014 by Joseph Lubin, a co-founder of Ethereum, a blockchain platform that powers ether, the world's second most valuable cryptocurrency.

Investors view ConsenSys as one of the tech companies that will pioneer Web3. It has benefitted greatly from an influx of capital into burgeoning crypto patterns like decentralized finance, or DeFi, and nonfungible tokens, or NFTs.

The MetaMask crypto wallet and Infura, a platform that allows developers to create Ethereum apps, are two of the company's most popular products.

MetaMask is a web browser extension or a mobile application that lets users store and manage their tokens. Popular blockchain-powered apps such as Uniswapand Axie Infinity are also available. The majority of ConsenSys' revenue is currently generated by fees for trading various tokens on MetaMask.

Whereas bitcoin is primarily used for transactions, Ethereum can be used to build decentralized applications or dapp. ConsenSys creates software for the Ethereum network.

Web3 is among the most widely debated topics these days. There have been ongoing debates and conversations about how the world is getting closer to a new digital age that will usher in an internet new era known as Web3 while also ending the current Web2 era.

As a result, there are numerous programs, firms, businesses, and big organizations working to secure their position in this impending new digital world, and Microsoft has recently gotten involved and established a collaboration with AstarNetwork.

The Astar Incubation Program will assist Astar Network in building and implementing the Web3 future. As part of their agreement, Microsoft and AstarNetwork will work collaboratively on the Astar Incubation Program. Microsoft will provide selected companies in the Astar Incubation Program with marketing assistance and a mentorship network to help them thrive in the rapidly growing global market.

All authorized innovation projects will have exclusive access to the 'Microsoft for Startups Founders Hub,' which removes traditional barriers to startups by offering free access to digital support and coaching. This is extremely advantageous for anyone seeking to create a strong base in a rather competitive market marketplace.

Founders will also be coached by experts in every field from technology to market strategy, and also have access to the capital market investment. Incubated projects will thus be ready to enroll prospective corporate clients and achieve maximum market presence from the start, thanks to Microsoft's assistance. Microsoft will also provide up to $350,000 in benefits to selected companies through GithubEnterprise, Microsoft Teams, and Azure credits.

Microsoft stock has been beaten down lately and if things restore it means that the stock will rebound and investors will be happy again. The company is planning to invest in Web3, Blockchain, etc and this means they are going to be better positioned in the future. As a result, we expect the stock price to rise higher from here.