Home arrow Article arrow Article Detail

ScienceMagic.Studio new funding will ease Web3 usability

Profile Image

Pavan A Follow


Jun, 23 2022

Jun, 23 2022

likes 1 | comments 0

Article Image

Acording to a press release, ScienceMagic.Studios has raised $10.3 million in a pre-seed round for its non-fungible tokens (NFTs) and social tokens.


Founded by ScienceMagic.Inc, macro investor Raoul Pal, and crypto research firm Delphi Digital, the company is a joint venture.


Using web3 technologies like NFTs and social tokens, the company will counsel brands on how to engage more with fans and communities. The company is led by former Guardian Media Group CEO David Pemsel.


The investment was made by Liberty City Ventures, Coinbase Ventures, Alan Howard, Noam Gottesman, and Digital Currency Group (DCG), which owns CoinDesk.


ScienceMagic.Studios CEO David Pemsel said, "Digital assets offer huge potential for brands to engage with their communities in a new way, and for talent to realise the true value from their work for the first time. But many brands are just starting to understand this." 


He adds, "To make the most of this opportunity and create enduring value, brands will need a partner who understands their business, who shares their values, and who brings a deep knowledge of Web3 technologies."


With more brands diving into the web3 hype, the company says the funding will be used primarily for scaling up.


Kanye West's Yeezus brand, which filed 17 trademark applications earlier this month, has indicated a potential move into the NFT space as major brands continue to explore the web3 space.

Vogue Business reports that Lancôme recently announced a range of limited-edition NFT gift boxes for China’s 520 holiday. Prada previously launched NFTs as part of its Timecapsule initiative.


likes 1 Likes | comments 0 Comments

Profile Image

Pavan A

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.