Quick take:
- The firm will advise on and create digital assets for brands and talents.
- Investors in the round include Coinbase Ventures, Digital Currency Group, and more.
- The funding will be used to scale the company.
Digital asset venture firm, ScienceMagic.Studios (SM.S) today announced that it has raised $10 million in pre-seed funding.
Investors in the round included Coinbase Ventures, Digital Currency Group, Heni, Brevan Howard Digital, Liberty City Ventures, ThirdPrime, Cultur3, RealVision, and Heni, as well as angel investors Noam Gottesman, Alan Howard, Frederic Court, Gil Weisblum, and the Khalili brothers.
ScienceMagic.Studios is a joint venture between communications agency ScienceMagic.Inc, Raoul Pa, a macro investor and founder of RealVision, and Delphi Digital, crypto research, investment and incubation firm. The company’s co-founder and CEO is David Pemsel – CEO of ScienceMagic.Inc and former CEO of the Guardian.
SM.S aims to give brands, talent and their communities ownership of the cultural value that they create through advising and implementing the creation of digital assets such as NFTs and social tokens, as well as web3 economies for brands, talent and their communities.
The funding will support the company to scale as it meets significant inbound interest.
“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,” said Pemsel. “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.”
Companies in different industries ranging from communications to research have been launching advisory units in recent months to help their clients navigate the emerging Web3 ecosystem.
On Monday, global technology and research advisory firm, Information Services Group (ISG), announced that it is launching a new advisory unit to help clients understand the business implications of Web3 and the metaverse.
In February, Nifty Gateway revealed its plans to launch an advisory program to offer institutional clients guidance on their NFT investments and onboarding, off-market acquisitions, private sales, market intelligence and insights. In the same month, Mastercard expanded its consulting services to include FT strategy development for banks and merchants.
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