I co-founded another new business in Web 3! (time to BUIDL).
ScienceMagic.Studios is a token studio working with the biggest communities and brand in the world. 1/
— Raoul Pal (@RaoulGMI) July 3, 2022
Investors such as Liberty City Ventures, Coinbase Ventures, DCG, Brevan Howard Digital, and others are backing the startup, which raised $10 million in upfront investment in June, Pal said on Twitter.
The economist and investment analyst are known for predicting the 2008 mortgage crisis, Science Magic. Studios’ aim to use is “$63 trillion of intangible assets projected on corporations‘ global balance sheets.”
“Tokenization embodies the brand and community and shares the benefit and network with the community. This is potentially the biggest change in business models in a very, very long time,” Pal added
Despite the so-called “crypto winter,” venture capital firms invested $3.7 billion in Web3 projects in June, demonstrating the industry’s high level of interest continues.