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GenomesDAO innovates genomic testing DeSci projects may become potential investment targets
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:
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:
Although the DeSci field has not yet attracted widespread attention, the GenomesDAO team is still actively developing:
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.