Investors such as Pantera Capital and Modular Capital are showing interest in the DeSci (Decentralized Science) and DAO sectors. The token $GENOME has raised $16 million through MC and Base Chain, and is now available on Aerodrome and MEXC platforms.
DeSci, short for Decentralized Science, aims to establish a public infrastructure using the Web3 stack to fund, create, review, certify, and store scientific research projects fairly and transparently. Despite receiving recognition from institutions like Coinbase, Messari, Pfizer, and influential figures like Vitalik Buterin, DeSci has yet to gain widespread attention among Web3 users.
GenomesDAO, an early DeSci project established in 2018 and launched in 2021, focuses on returning control of genetic testing data to users. In light of data breaches from companies like 23&Me, GenomesDAO’s secure and decentralized platform becomes crucial in safeguarding user genetic data and privacy.
The operating model of GenomesDAO allows users to undergo genetic testing, securely upload the data to a DNA database accessible only by the user, and grant permission to third-party pharmaceutical companies to use the data in exchange for platform tokens. Users can mine these tokens by allowing access to their data, thus controlling and benefiting from their genetic information.
Recently completing a chain migration to Base and introducing the new token $GENOME, GenomesDAO’s token serves as a payment method for data exchange with third parties, unlocking disease reports, and participating in DAO governance, offering staking rewards and voting rights.
Looking ahead, GenomesDAO presents a promising investment opportunity with a functional product, revenue potential, compelling narrative, and dedicated developers. While it may not have garnered significant attention yet, the project’s association with Pantera Capital and its innovative approach to genetic data ownership position it for success. Despite challenges such as low trading volume and market capitalization, GenomesDAO’s team remains focused on collaborating with government and pharmaceutical companies, expanding data mining opportunities for DAO members, and targeting Web2 users through strategic initiatives. With the potential to become a profitable venture, $GENOME holds promise for investors willing to navigate the evolving landscape of DeSci and Web3 technologies.