On Sunday (July 3), former Goldman Sachs executive Raoul Pal talked about why he is so excited about the new Web3-focused business (ScienceMagic.Studios) he has recently co-founded.
Prior to founding macro economic and investment strategy research service Global Macro Investor (GMI) in 2005, Pal co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called “Man GLG”). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. Currently, he is the CEO of finance and business video channel Real Vision, which he co-founded in 2014.
ScienceMagic.Studios describes itself as “a digital asset venture studio” that advises and implements “the creation of digital assets (e.g., NFTs and social tokens) and web3 economies for brands, talent and their communities.”
Its three founders are David Pemsell, the former CEO of Guardian Media Group; Kevin Kelly, who is “a co-founder of Delphi Digital, the leading research & consulting firm dedicated to web3 and digital assets, and a partner at Delphi Ventures, the firm’s investment arm”; and Raoul Pal.
As The Block reported on June 14, the firm “raised $10 million in pre-seed funding” from an impressive set of backers that included Coinbase Ventures, Digital Currency Group, and Liberty City Ventures.
Earlier today, the Real Vision CEO took to Twitter to explain what his new firm is trying to do:
He went on to say:
- “Our mission is to tokenize the worlds largest cultural communities – music, fashion, movies/book/TV franchises and sports – utilizing NFT’s, social tokens and metaverse to build community, utility and experience.“
- “There are $63trn of intangibles on global balance sheets of corporations. Tokenization turns brand and community into tangibles and shares the utility and network with the community. It is potentially the biggest change in business models in a very very long time.“
- “We’ve been alluding to this for a long time! It is one of the biggest opportunities in Web 3, helping big brands move into Web 3 in the right way – creatively but cautiously and meticulously. We are already in talks with some monumental people/brands. Really, really exciting!“