Key Points:
- $4.1 million raise was completed by VitaDAO, a decentralized autonomous organization that finances studies in the field of longevity science.
- Pfizer’s previously disclosed $500,000 commitment to VitaDAO, news of the funding round was released.
- In place of the current science ecosystem that relies on centralized bodies of research and funding, DeSci aims to source funding for research through crowdfunding and to decentralize ownership.
$4.1 million raise was completed by VitaDAO, a decentralized autonomous organization that finances studies in the field of longevity science.
According to a news statement, Pfizer’s venture arm contributed to the token round along with Shine Capital, L1 Digital, and Balaji Srinivasan, among others. Ion claimed the round was completed this month.
The company has even participated in governance initiatives and currently possesses vita governance tokens through a special purpose entity. Following Pfizer’s previously disclosed $500,000 commitment to VitaDAO, news of the funding round was released.
VitaDAO is part of a nascent movement known as decentralized science
In place of the current science ecosystem that relies on centralized bodies of research and funding, DeSci aims to source funding for research through crowdfunding and to decentralize ownership.
“DeSci is just a way to bottom-up design better science without all the centralization and bogged-down control of governments and big institutions,” Ion explained.
Traditional stock financing methods or non-fungible tokens designed to represent intellectual property are both used to fund projects. These depend on technology from the closely related Molecule project, which lets academics list NFT initiatives on its marketplace. Molecule acquired $13 million in seed funding in June of last year.
The majority of the VitaDAO-funded projects are concerned with aging and long life. It has supported research at the University of Copenhagen on how medications affect aging as well as Turn Biotechnologies, a Stanford University spinoff that makes mRNA medications.
The investment will be used to support ongoing longevity research initiatives and the biotech firms that are expected to spin off from the DAO in the upcoming year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
