Emerging DeSci projects favored by well-known investment institutions

Recently, a decentralized science (DeSci) project called GenomesDAO has gained the support of well-known investment institutions, attracting industry attention. This project belongs to the DeSci track and focuses on the management and utilization of genomic data.

Overview of the DeSci Track

DeSci, or decentralized science, aims to build a fair and just research infrastructure using Web3 technology. Its main goals include:

1. Reform the financing and fund allocation methods for scientific research projects
2. Innovative Research Project Collaboration Model
3. Protecting intellectual property through decentralized storage

Although DeSci has gained recognition from some well-known institutions and industry professionals, it has not yet fully entered the public eye. Compared to the recent popular Meme coins and AI concept coins, the development of DeSci projects is relatively slow. However, considering its potential to innovate research methods, the DeSci sector may have noteworthy performance in the future.

GenomesDAO Project Introduction

GenomesDAO was founded in 2018 and is one of the early projects in the DeSci field. It is a biotechnology DAO that provides a secure, decentralized, and incentive-driven genomic testing platform. In the current context where the security of genetic data is receiving significant attention, the emergence of GenomesDAO is particularly important.

The core concept of the platform is to return the control of users' genomic testing data to the users themselves. Unlike the traditional Web2 model, GenomesDAO allows users to manage the data in their "on-chain vault" and profit from it. The platform combines privacy protection, data sovereignty, and token incentives through a DAO mechanism.

Operating Model

The operating process of GenomesDAO is as follows:

1. Provide genetic testing services for users
2. Upload the detection data to the DNA database, which can only be accessed by the user himself.
3. Third-party pharmaceutical companies apply to use DNA data with platform tokens.
4. Users can decide whether to agree or not, and if they agree, they will receive platform tokens as a reward.

It is worth noting that because sample collection requires mailing, this service is currently mainly aimed at users in Europe, such as the UK. Users need to pay £349 on the official website to place an order and receive a sample collection toolkit and an NFT similar to SBT. Only users holding the corresponding NFT will be able to access their own data.

Token Economy

The platform token $GENOME of GenomesDAO has recently completed a chain migration (migrated to the Base chain) and a token swap. This token serves not only as a payment method for third-party companies accessing data but also as a payment tool for users to unlock disease testing reports. In addition, $GENOME has DAO governance features, allowing holders to earn voting rights and token rewards through staking.

Currently, the market capitalization of $GENOME is approximately 16.5 million USD, with a unit price of 0.0174 USD.

Future Outlook

From an investment perspective, GenomesDAO has the following advantages:

• Have actual usable products and profitable models
• Potential Project Narrative
• The development team continues to work hard
• The market capitalization and trading volume are relatively low, and have not attracted excessive attention.
• Recently received support from a well-known investment institution.

It is worth mentioning that although the overall attention on the DeSci track is low, the small team of GenomesDAO is still actively developing:

• Work hard to collaborate with the government and pharmaceutical companies to create more data monetization opportunities for DAO members
• Implement user conversion plans for mainstream gene testing companies

In summary, $GENOME could become a potentially substantial investment option, but it may require waiting for the overall warming up of the DeSci sector. Considering the optimism of several well-known investment institutions towards DeSci at the end of 2023, there may be more developments in this field in the future.