VitaDAO, a decentralized autonomous organization (DAO) focused on longevity research, has raised $4.1 million in a recent funding round. The funds will be used to further their research in DeSci (decentralized science) and explore its potential. After the news, the altcoin price took flight.
After the million dollar fund, the altcoin price skyrocketed!
VitaDAO, a decentralized autonomous organization (DAO) focused on longevity research, recently completed a $4.1 million funding round, as we reported on cryptokoin.com. The funds will be used to further their research and explore the potential of decentralized science, DeSci. The funding round was made possible by contributions from investors such as Balaji Srinivasan and Pfizer Ventures. This is the first time a pharmaceutical venture partner has collaborated with a DeSci organization. The investment has been rated and accepted by the community.
After news of VitaDAO’s successful $4.1 million funding round, the VITA token price surged 50% on initial response. This rise in price reflects increased interest and confidence in the DeSci movement and VitaDAO’s role in it. The involvement of major players such as Pfizer Ventures and the approval of the investment by the community further cemented DeSci’s credibility and potential to revolutionize scientific research. The rise in altcoin value is a testament to the market’s positive perception of the establishment and its future prospects. However, at press time, the altcoin price pulled back a bit.
VITA daily price chart / Source: CoinMarketCapIncreasing credibility of decentralized science research
DeSci, or decentralized science, is the intersection of two broad trends. These include efforts to change the way research is funded and knowledge shared in the scientific community. It is also working towards moving ownership and value away from industry intermediaries within the crypto-focused movement.
The DeSci environment consists of loosely connected DAOs that target specific aspects of scientific research such as funding, peer review, access, incentives, and speed. VitaDAO was launched as an experiment in a community-led study by Molecule, which announced it will go on a $12.7 million funding round in June 2022. Molecule aims to transform science DAOs into a profitable business model. It also sowed the seeds of several similar communities with different focuses. These include AthenaDAO, which focuses on women’s health research, and ValleyDAO, which focuses on synthetic biology in general.
Recent fundraising and the involvement of major players such as Pfizer Ventures demonstrate the growing credibility of the DeSci movement. With the potential to provide a global, distributed entrepreneurial talent access to capital, expertise and tools, DeSci has the potential to revolutionize the way scientific research is conducted and funded.
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