VitaDAO, a decentralized autonomous organization (DAO) focused on longevity research, has recently closed a $4.1 million funding round. The funds will be used to advance their research and explore the potential of DeSci, decentralized science.
The raise was made possible by contributions from investors including Balaji Srinivasan and Pfizer Ventures, marking the first instance of a pharmaceutical venture partner collaborating with a DeSci organization. The investment was voted on and approved by the community.
Growing Credibility of the Decentralized Science Research
DeSci, or decentralized science, is the intersection of two broader trends. These include efforts within the scientific community to change the way research is funded and knowledge is shared. Also, efforts within the crypto-focused movement to shift ownership and value away from industry intermediaries.
The DeSci landscape consists of loosely connected DAOs that target specific aspects of scientific research, such as funding, peer review, access, incentives, and pace.
VitaDAO was started as an experiment in community-run research by Molecule, which announced their $12.7 million raise in June 2022. Molecule aims to turn science DAOs into a profitable business model and has seeded several similar communities with different focuses. These include AthenaDAO, which focuses on women’s health research, and ValleyDAO, which is broadly interested in synthetic biology.
The recent fundraise and the involvement of large players like Pfizer Ventures signifies the growing credibility of the DeSci movement. With the potential to provide a global, distributed pool of entrepreneurial talent access to capital, expertise, and tools, DeSci has the potential to revolutionize the way scientific research is conducted and funded.
Following the news of VitaDAO’s successful $4.1 million funding round, the price of the VITA token reportedly soared by 50%. This surge in price reflects the growing interest and confidence in the DeSci movement and VitaDAO’s role within it. The involvement of large players like Pfizer Ventures and the approval of the investment by the community have further solidified the credibility of DeSci and the potential for it to revolutionize scientific research.
The increase in the value of the VitaDAO token is a testament to the market’s positive perception of the organization and its future prospects.
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