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Coinbase Ventures leads $10.3M investment in Web3 startup ScienceMagic.Studios 

ScienceMagic.Studios-Founder-and-CEO-David-Pemsel
Image credits: ScienceMagic.Studios

ScienceMagic.Studios, the newly formed joint venture between ScienceMagic.Inc (the leading strategic & creative company), Raoul Pal (a macro investor and founder of RealVision) and Delphi Digital (a leading crypto research, investment and incubation firm) has today announced it has secured $10.3M in pre-seed investment. The newly formed entity is backed by an impressive investor list which includes Liberty City Ventures, Digital Currency Group, Coinbase Ventures, Noam Gottesman and Alan Howard.

The new company will consult & advise on digital assets such as NFTs and social tokens for brands, talent and their communities, while also assisting them to create their own. Its newly acquired funding will support the company’s scaling efforts as it rushes to meet inbound interests from potential partners.

Integrating Web3 should be a core business strategy

The transition from Web2.0 to Web3.0 will be much less comfortable for established brands and platforms that aren’t willing to adapt. Web3’s foundations exist to overturn the monopolies that presently exist, bringing us a fairer internet by enabling individuals to be truly sovereign. True sovereignty implies that one can wholly own and be in control of who profits from one’s information and time. Web 3.0’s decentralised blockchain protocol will ensure individuals can connect to an internet where they not only own their time and data but also be properly compensated. This eclipses the exploitative and unjust present version of the web whereby giant, centralised repositories are the only ones that own and profit from our data.

For brands looking to adapt to or trying to establish themselves in Web3, it remains crucial to examine how to integrate the pillars of the decentralised web into their business strategy.  David Pemsel, the CEO and co-founder of ScienceMagic.Studios further explains this, “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.”

ScienceMagic.Studios expects to work with its partners at every stage of building their Web3 presence, supporting them to define their brands’ Web3 vision and understand where Web3 can be genuinely useful & applicable to their communities. The Web3 expert will also assist its clients to design and launch assets that will deliver real shared value as well as offering help with the management of the emerging economy.

“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,” adds ScienceMagic.Studios’  David Pemsel.

ScienceMagic.Studio lists its co-founders as David Pemsel, Kevin Kelly & Raoul Pal. The entity is also backed by leading angels Frederic Court, Gil Weisblum & the Khalili Brothers alongside VCs Brevan Howard Digital, ThirdPrime & Cultur3 as well as Web3 companies RealVision & Heni.

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