Today in Crypto: NFT-Focused Startup Raises $10.3M; Crypto Watchdog Formed

ScienceMagic.Studios on Tuesday (June 14) announced it has raised $10.3 million from pre-seed investors. The group, according to the company, includes Liberty City Ventures, Digital Currency Group, Coinbase Ventures, Noam Gottesman and Alan Howard.

The newly formed company, a joint venture between ScienceMagic.Inc, Raoul Pal and Delphi Digital, said in the announcement that it will create and guide the creation of digital assets such as nonfungible tokens (NFTs).

“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,” David Pemsel, chief executive officer and co-founder of ScienceMagic.Studios, said in a prepared statement.

Meanwhile, a new entity called Crypto Leaks, which said it will help identify bad actors in the cryptocurrency world, announced its formation Tuesday (June 14).

Word of Crypto Leaks creation emerged on websites such as cryptonews.com.

“Corrupt behavior and market manipulation are not uncommon in the crypto space, and occur behind closed doors. Many powerful and unethical people have been attracted to the crypto industry by the chance to make fast money,” the announcement said.

The group’s organizers do not identify themselves on its official website.

As for their purpose, the website states: “Crypto Leaks aim to help crypto investors, by revealing wrongdoing, and showing people how corruption, and subtle behind-the-scenes manipulations, should make you think twice about everything you read and hear.” The group offers an email address for would-be whistleblowers.

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