VitaDAO
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| Engine | |
|---|---|
| Type | Decentralized autonomous organization |
| Website | vitadao |
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VitaDAO is a decentralized autonomous organization (DAO) that funds and supports longevity science research. It was launched in June 2021 by Molecule, a platform for decentralized drug development. VitaDAO aims to democratize access to longevity research and accelerate the discovery of therapies for age-related diseases.[1][2][3][4]
History[edit]
VitaDAO was started as an experiment in community-run research by Molecule, which announced their $12.7 million raise in June of 2022 (led by Northpond Ventures).[5][6] The idea was to create a DAO that would use blockchain technology and smart contracts to enable transparent and collaborative funding of longevity research projects.[7][2][4] VitaDAO raised $4.1 million in its initial token sale, which was backed by Pfizer Ventures, Balaji Srinivasan, and other prominent investors and researchers in the longevity field.[8][1][9][10][11][3]
Governance[edit]
VitaDAO is governed by its members, who hold VITA tokens that represent their voting power and ownership stake in the DAO. VITA tokens can be earned by contributing to the DAO, such as proposing or reviewing projects, or by purchasing them on the open market. VITA token holders can participate in the decision-making process of the DAO, such as approving or rejecting projects, allocating funds, and setting policies.[7][1][9][3][4]
Projects[edit]
VitaDAO funds and supports longevity research projects that can improve people's lives and extend healthy lifespan.[3][1][2][10] The projects are selected by the DAO members based on their scientific merit, potential impact, and alignment with the DAO's mission and values.[12] The projects are also evaluated by an independent scientific advisory board composed of experts in the field.[4][13] As of January 2023, VitaDAO has funded over 17 longevity research projects and deployed more than $4 million.[1][14] Some of the projects include[14]:
- A study on the effects of rapamycin on human aging biomarkers
- A platform for screening senolytic drugs using human induced pluripotent stem cells
- A gene therapy for treating Hutchinson-Gilford progeria syndrome
- A computational model for predicting lifespan extension from interventions
- A novel peptide for enhancing autophagy and mitochondrial function
IP-NFTs[edit]
One of the innovative features of VitaDAO is the use of IP-NFTs (intellectual property non-fungible tokens) to fund and support longevity research.[3][6][5] IP-NFTs are digital tokens that represent full legal IP rights and data access control to biopharma research.[15] They are created and sold by Molecule, a platform that enables researchers, TTOs, and biotech companies to fundraise commercially without needing to patent early or create a startup.[6][5] IP-NFTs allow VitaDAO to own the IP and data rights of the research projects it funds, as well as to collaborate with other researchers and stakeholders using data access control.[4][16] IP-NFTs also create new funding and monetization strategies that take advantage of data marketplaces.[16] For example, VitaDAO can sell or license its IP-NFTs to other parties, such as pharmaceutical companies like Pfizer, who may be interested in developing or acquiring novel therapeutics for longevity.[17]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 1.4 "World Economic Forum DAOs for Impact White Paper June 2023" (PDF). June 2023: 9. Retrieved 26 July 2023.
- ↑ 2.0 2.1 2.2 "Can Decentralized Autonomous Organizations (DAOs) Revolutionize Healthcare?" (PDF). California Review Management: 4–5. Jan 2023. Retrieved 26 July 2023.
- ↑ 3.0 3.1 3.2 3.3 3.4 "VitaDAO Closes $4.1M Funding Round With Pfizer Ventures for Longevity Research". markets.businessinsider.com.
- ↑ 4.0 4.1 4.2 4.3 4.4 Abbott, Matt. "Funding science through blockchain technology and cryptocurrencies". from.ncl.ac.uk.
- ↑ 5.0 5.1 5.2 "We have raised $12.7 Million in Seed Funding to Build the Future of Decentralized Science and Biotech". www.molecule.to.
- ↑ 6.0 6.1 6.2 "Decentralized science platform Molecule raises $13 million in seed funding". The Block.
- ↑ 7.0 7.1 "How VitaDAO Works". Medium. 1 March 2022.
- ↑ Cumbers, John. "Longevity Startup VitaDAO Raises $4.1m, Backed By Pfizer, Balaji Srinivasan". Forbes.
- ↑ 9.0 9.1 "DAOs Might Be Cure for Biotech Startups and New Drug Development". news.bloomberglaw.com.
- ↑ 10.0 10.1 "Pfizer Invests $500K in Decentralized Collective Focused on Longevity R&D". BioSpace.
- ↑ "Ventures Newsletter 2022 in Review" (PDF). Pfizer Ventures Newsletter: 2.
- ↑ "Funding and support for longevity science research | VitaDAO". www.vitadao.com.
- ↑ "Apply for funding | VitaDAO". www.vitadao.com.
- ↑ 14.0 14.1 "Projects | VitaDAO". www.vitadao.com.
- ↑ "Introducing the IP-NFT V2". www.molecule.to.
- ↑ 16.0 16.1 "IP-NFTs for Researchers: A New Biomedical Funding Paradigm". www.molecule.to.
- ↑ "Announcing the first biopharma IP-NFT Transaction". www.molecule.to.
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