Pfizer attacks cancer with crypto and DAOs

VitaDAO is a Decentralized Autonomous Organization (DAO). Through a college of researchers, patients, entrepreneurs, financiers or enthusiasts of blockchain and cryptos, it invests in research initiatives. Research for which it acquires the intellectual property of the results through NFTs. Matrix Biosciences is one of them.

$300,000 raised by DAO VitaDAO to support Matrix Biosciences

VitaDAO has achieved its first major development thanks to cryptocurrencies. Indeed, this Monday, October 9, the autonomous entity announced the launch of Matrix Biosciences. It is in reality a research project which aims to revolutionize treatments against cancer and diseases linked to aging.

For that, the research initiative plans to leverage research on naked mole rats. Initial funding of $300,000 has been fully released for this purpose. This, thanks to the support of some 10,000 members of the DAO, the decentralized organization. The investment goes hand in hand with the provision of a technological infrastructure called IP-NFT.

At the beginning of the year, this community unanimously agreed to collaborate with Dr. Vera Gorbunova. She is the co-president of the Aging Research Center at the University of Rochester (United States). The financing and launch of Matrix Biosciences therefore comes following this key decision.

“Funding and support from the VitaDAO community will allow Matrix Biosciences to take one step closer to developing breakthrough treatments that will significantly improve outcomes for our vulnerable aging patient population. I am delighted to begin this partnership with VitaDAO“, declared the specialist.

Matrix Biosciences, a project in the crypto zeitgeist?

It must be said that initiatives like Matrix Biosciences supported by VitaDAO are trendy. Indeed, more and more projects are emerging linked to what should be called decentralized science (DeSci).

DeSci, whose concept seems modeled on that of decentralized finance (DeFi) or Initial Coin Offering (ICO) of cryptos, works differently from the current method of financing scientific projects. The latter relies on centralized organizations to finance research.

Conversely, DeSci seeks to find investment in research through alternative means. Processes which can take the form of participatory financing (crowdfunding) or decentralized ownership.

VitaDAO is not the only autonomous entity working on DeSci initiatives. ResearchHub is also part of this movement. The startup co-founded by Coinbase CEO Brian Armstrong rewards crypto scientists for publishing content.