May 20, 2022

How NFTs Could Enable New Ways To Fund Scientific Research

3 min read

Could we see a whole revitalization en route science research study is moneyed and formed? NFTs have huge capacity to disrupt a number of various markets. Sure, we’ve seen NFTs instill themselves worldwides of antiques, art and home entertainment, and fan engagement (a definitely non-exhaustive list). Now, a growing number of people and companies are addressing the potential of NFTs serving a range of special roles in science and research.

Earlier in the year, our team at sibling network NewsBTC covered the groundbreaking story of UC Berkeley auctioning Nobel Prize-winning documents, with proceeds going towards funding innovation research and education.

Now, well-respected researchers are recommending that this sort of fundraising might end up being more prevalent in scientific fields. In addition, some jobs are already dealing with having a token governance system to

The Reason’s In The Research Stanford University professor and scientist in neurobiology and ophthalmology Andrew D. Huberman specified over the weekend that”numerous labs are starting to offer NFTs as alternate/additional sources of research study funding” with this tweet: Well, I guess it’s beginning sooner than I prepared for: numerous laboratories are starting to sell NFTs as alternate/additional sources of research funding. We can expect “first ever pictures of X down the microscope “NFTs, etc eventually. Wild! #NFT #science #Biology #BTC– Andrew D. Huberman, Ph.D. (@hubermanlab )October 16, 2021 Huberman also runs the Huberman Lab at the Stanford School of Medicine and frequently discusses neuroscience and the nervous system on his Huberman Lab Podcast.

Just like the majority of NFTs, the advancement of where we go from here is far from clear. However, the potential is definitely present. In tweet replies, Huberman said that “if laboratories can self fund it will alter the landscape of science forever.”

Associated Reading|Prohibited Bitcoin Miners Found Exploding China’s State Resources

Seeing The Bigger Picture At it’s core, this is actually what crypto is everything about. There’s capacity to produce a decentralized organizational body or structure that funds crucial developmental research without third-party interests taking priority.

Huberman, nor our group at Bitcoinist are the very first to think of this. One task pointed out more than when in Huberman’s replies is VitaDAO and it’s native VITA token, which is a DAO focused on financing research for the extension of human life and healthspan.

 As the overall market cap of crypto hovers around all-time highs, so too does the potential for NFTs to find brand-new use-cases in development within science and research.|Source: CRYPTO CAP TOTAL on TradingView.com

VitaDAO then obtains or commissions research and owns, establishes and generates income from the IP that’s produced. Meanwhile, VITA token holders add to decision-making and governance behind VitaDAO’s research, deliver sentiment around specific initiatives, and govern information repositories and the DAO’s IP portfolio.

VitaDAO and innovators at UC Berkeley are far from being the only ones in the space seeking to technique research study and financing in a brand-new way.

Scientists with NYU’s Center for Genomics and Systems Biology was among the first to mint an NFT of a clinical paper.

Related Reading|Crypto Scammers Take Over Dating Apps Users’ iPhones

Included image from Pexels/Pixabay, Charts from TradingView.com