Decentralization science projects receive heavy investment

A well-known investment institution recently invested in an impressive Decentralization science ( DeSci ) project. This project, named GenomesDAO, focuses on the field of biotechnology and aims to establish a secure, decentralized, and incentivized genomic testing platform.

GenomesDAO was established in 2018 and issued its token in 2021. The project was incubated by a well-known crypto wallet company and collaborated with a large chip manufacturer. In the current context where the security of genetic testing data is receiving significant attention, the emergence of GenomesDAO is particularly important.

The core concept of this project is to return ownership and control of genomic testing data to users. Unlike the traditional Web2 model, GenomesDAO allows users to manage the data in their "on-chain vault" and profit from it. This model combines features such as privacy protection, data sovereignty, and token incentives.

The process for users to participate in the GenomesDAO platform is as follows:

1. The platform provides users with genetic testing services.
2. The detection data is uploaded to the DNA database and can only be accessed by the user themselves.
3. Third-party pharmaceutical companies apply to use DNA data with platform tokens.
4. Users can decide whether to agree or not, and if they agree, they will receive tokens as a reward.

It is worth noting that currently this service is only available to users in specific regions such as the UK. Users need to pay £349 to obtain a sample collection kit, and will also receive an NFT similar to an SBT, which is used to bind wallets and access data.

The platform token $GENOME of GenomesDAO not only serves as a means of payment for data transactions but also has DAO governance functions. Holders can obtain voting rights and additional rewards through staking. Currently, the market value of this token is approximately 16.5 million dollars, with a price of 0.0174 dollars.

Although the DeSci field has not yet attracted widespread attention, the GenomesDAO team is actively promoting project development. They are working hard to collaborate with governments and pharmaceutical companies to provide more data monetization opportunities for DAO members, while also attracting Web2 users to join the platform.

Although the DeSci track currently does not receive much attention, considering its potential to innovate research methods, it is likely to perform well in the future. Several well-known investment institutions have also expressed optimism about this field at the end of 2023. For investors, GenomesDAO may be a long-term opportunity worth paying attention to.