DeSci project GenomesDAO attracts follow

Recently, a decentralized science (DeSci) project called GenomesDAO has gained the favor of a well-known investment institution. This project focuses on the field of genomic testing and aims to revolutionize the financing, collaboration, and data storage methods of research projects.

GenomesDAO is a biotechnology DAO that provides a secure, decentralized, and incentivized genomic testing platform. In the context of frequent data breaches at current genetic testing companies, the emergence of this project is particularly important. It is committed to returning the ownership and control of users' genomic testing data to the users themselves.

Unlike the traditional Web2 model where users cannot profit from their own data, GenomesDAO allows users to manage the data in their "on-chain vault" and earn income through data usage. The platform achieves the triple goals of privacy protection, data sovereignty, and token incentives through the DAO mechanism.

The process for users to participate in GenomesDAO is as follows:

1. Users obtain genetic testing services
2. The detection data is uploaded to the DNA database, and only the user has access rights.
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 do, they will receive platform tokens as a reward.

Currently, the platform is primarily open to European users. Users are required to pay £349 to order a sample collection kit and receive an NFT similar to SBT that binds to their wallet. After completing the sample testing and data uploading, users can "mine" on the platform with their own data, choosing whether to allow third-party companies to access their data and receive corresponding rewards.

GenomesDAO has recently completed a chain migration (to the Base chain) and a token swap. The new platform token $GENOME not only serves as a means of payment for data transactions but also has DAO governance functions, allowing holders to obtain voting rights and token rewards through staking. Currently, the market capitalization of $GENOME is approximately $16.5 million, with a unit price of $0.0174.

From an investment perspective, GenomesDAO has the following advantages:

• Have available products and sources of income
• Potential narrative
• The development team continues to work hard
• The market capitalization and trading volume are currently low, which has not attracted excessive attention.
• Gain support from well-known investment institutions

Although the DeSci field has not yet attracted widespread attention, the GenomesDAO team is still actively developing:

• Work hard to collaborate with the government and pharmaceutical companies to provide more data mining opportunities for DAO members.
• Launching user attraction plans targeting large genetic testing companies

Considering that multiple venture capital firms mentioned DeSci in their outlook at the end of 2023, $GENOME may become a potential investment target in the future. However, investors still need to carefully assess risks and conduct thorough research.