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I am inspired by builders applying web3 in a way that breaks legacy systems by empowering community contributors. The healthcare and pharmaceutical industries are prime candidates to rethink DeSci (science with web3 primitives) as a catalyst. All the greatest breakthroughs in science start with a very compelling idea that turns into research.
When do ideas actually come to fruition? Perhaps it’s the nanoseconds after which the synapse fires and generates a random combination of previous thoughts and new components. Occasionally, even the best ideas can leak back into the ether with rapid electrical signals. More importantly, at what point does the idea create value?
Some ideas are seeds that require energy and fuel to reach their full potential, but ideas in very small amounts can quickly expand on their own.Even early seeds can have real value, especially if given access to energy and fuels. web3 provides that access through projects such as molecule.
Molecule is a decentralized biotech protocol that financially connects researchers and biotech companies while allowing a community of patients, researchers and investors to directly control and own research-related IP.
Have you ever wondered how medicines are marketed? Starting at a very high level, promising researchers receive grants from organizations such as the National Institutes of Health (NIH) to expand their early research. Researchers, as we speak, are typically employed by universities, where their research leads to discoveries and moves toward patents held by the Technology Transfer Office (TTO). Outside of academia, a pharmaceutical company is looking for patents held by his TTO that meet profitability and business goals.
A pharmaceutical company identifies a researcher’s work, secures a patent license at the TTO, and begins drug development. One of the challenges of this model is that potentially life-saving groundbreaking research may be shelved if pharmaceutical companies have fewer markets to address than they need to invest in. That’s it.
Imagine finding research that could help someone in your family with a condition that has plagued them for years. Think about what is being done. It does not meet the criteria for investment as there is no market available. You and your family have a solution, but no means to implement it. Existing models make it unlikely that this research will be used in drug development.
Value can be subjective and is usually associated with someone or something assigning that value. In the venture capital and public market realms, ideas are made compelling through patents and demonstrable sales. The possibilities are clearly identified and somewhat de-risking the investment. What if you could capture value early in the process? How can that captured value help reinvent the process of drug development? Can decentralized and decentralized innovation be applied to some of healthcare’s greatest challenges? seems to be thinking
Molecule’s protocol stack enables the value of research to be captured before it is patented, while connecting it to funding sources and a community of stakeholders.
IPNFT Capture the value of promising ideas in the gap between research and patents or products. IPNFT combines smart contracts and IP licensing into one toolset.
molecular discovery A platform where researchers can create projects showcasing research details, milestones and required funding for each milestone.
molecular finance With DAO structure and DeFi, members can choose to contribute resources to promising projects and share ownership of IPNFT.
Driven by a desire for positive disruption and web3 technology, Molecule is breaking down barriers to medical innovation that can change people’s lives. Using this model, a group of people dealing with similar illnesses can come together and focus their efforts on finding a cure.
Previously, we could only raise money for disease-related nonprofits, but many diseases didn’t even have nonprofits to fund them. In this case, patients will have access to a drug pipeline that can support specific ailments and solutions to their ailments. By organizing as a DAO, this community could potentially become a means of advancing treatment. Their DAO can identify a research project on the Molecule platform and decide to acquire his IPNFT related to that research.
As an example, Vitadao (DAO focused on longevity) has a community of thousands of members, including researchers and scientists. By purchasing $VITA tokens, members can vote on proposals while funding his DAO Treasury for projects related to longevity.
Now, instead of university TTOs licensing patents to pharmaceutical companies, DAOs can even step in and streamline the development of solutions. Additionally, DAOs can offer these same people the opportunity to pool their data and share it with research teams. For web3, access to that data may indicate actual revenue to individual providers.
Images linked to Molecule’s first IPNFTMolecule’s first projects included the “Longevity Molecule” study initiated by the Scheibye-Knudson Lab at the University of Copenhagen. His IPNFT for this study was purchased by VitaDAO.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
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