HomeNewsPfizer Combines COVID-19 Knowledge with Crypto Innovation: Launching a DAO-Powered Biotech Venture...

Pfizer Combines COVID-19 Knowledge with Crypto Innovation: Launching a DAO-Powered Biotech Venture – A Boon for Bitcoin and Ripple (XRP)?

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  • VitaDAO, backed by the venture arm of Pfizer, unveils Matrix Biosciences as its maiden biotech venture.
  • Matrix Biosciences to receive funds from VitaDAO through IP-NFT fractionalization, leveraging VitaDAO-associated platform Molecule’s technology.

The blockchain world has seen another exciting integration into the biotech sector. VitaDAO, a decentralized autonomous organization emphasizing early-stage longevity research, has revealed its fresh biotech venture – Matrix Biosciences. This launch came after the community gave an almost unanimous nod to a collaboration with Dr. Vera Gorbunova of the University of Rochester’s Aging Research Center.

The initial investment from VitaDAO to Matrix Bio stands at $300,000, with a subsequent influx from IP-NFT fractionalization anticipated in 2024, reported The Block in a recent article.

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Decentralized Science (DeSci): A Growing Trend

VitaDAO is embracing a budding trend termed decentralized science, or DeSci. This system deviates from traditional research, which usually leans on centralized bodies for research financing. DeSci’s objective is to garner research investment via crowdfunding efforts and decentralized proprietorship.

A Dive into VitaDAO’s Endeavors: The Naked Mole Rat Research

The allocation from VitaDAO will channel into preclinical studies, probing novel hyaluronic acid-based compounds. These compounds are intriguingly found in the long-lived and cancer-resistant naked mole rats. VitaDAO’s ambitious goal is to pinpoint an ultimate drug contender to tackle cancer and age-linked maladies. Dr. Gorbunova articulated her enthusiasm about collaborating with VitaDAO, expressing optimism about the venture’s potential in bridging gaps in the medical field.

Dr. Anthony Schwartz, a key figure in VitaDAO, emphasized the collaborative spirit and expertise pooled from both VitaDAO’s online community and the Matrix Biosciences team. Such a coalition, Schwartz believes, propels forward a well-structured strategy in a domain that previously witnessed knowledge and pathway deficits.

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Pfizer’s Stance: An Endeavor into the DAO Sphere

Remarkably, Pfizer’s venture arm has shown its bullishness on this DAO-powered biotech pathway. Earlier, Pfizer played a pivotal role in a $4.1 million funding round for VitaDAO. This step marked Pfizer’s debut in allying with a DAO, not only holding vita governance tokens via a special purpose vehicle but also actively involving itself in VitaDAO’s governance motions.

To date, VitaDAO boasts a sprawling community exceeding 10,000 members. Their funding accomplishments span 19 projects with a whopping $4 million capital deployment. This encompasses significant ventures like Turn Biotechnologies and critical studies from institutions like the University of Copenhagen.

On a final note, VitaDAO isn’t solitary in its DeSci pursuits. ResearchHub, a startup co-created by Coinbase’s CEO Brian Armstrong, is another noteworthy entity in this arena, having amassed $5 million in a recent fundraising drive.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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