ScienceMagic.Studios, a Web3 Service Provider Raises USD10.3 Million from Coinbase Ventures and Others

ScienceMagic.Studios is targeting to assist early-stage Web3 firms in establishing their brands and engaging more effectively with their communities. 

USD10 Million Raised to Help Firms in Web3 at Different Stages 

ScienceMagic.Studios, a firm that creates and advises on social tokens and non-fungible tokens (NFTs), has raised a total of USD10.3 million in a successful pre-seed round, according to a press release sent to newsrooms by the company. 

The company operates as a joint venture between ScienceMagic.Inc, crypto research firm Delphi Digital, RealVision founder Raoul Pal. The funds were raised from Liberty City Ventures, Coinbase Ventures, Digital Currency Group (DCG), Noam Gottesman, and Alan Howard. 

ScienceMagic.Studios will use the money to support firms dealing with Web3 in different stages of development, from branding to the formation of various digital assets. The funding will be crucial in helping the company to scale operations and meet the growing demand. 

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

ScienceMagic.Studios joins the growing list of other companies that have recently raised millions to support Web3 growth. Binance, one of the largest crypto exchanges on the globe, recently raised USD500 million to invest in Web3. Others include QuestBook, which raised USD8.3 million, and Felix Capital that managed a whopping USD600 million. Felix Capital targets Web3 and blockchain firms. 

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