Breaking Down the Investment
VitaDAO, the cool cats of decentralized science, recently made headlines by launching a biotech company focused on battling cancer and aging diseases. They kicked off the fun by throwing down an initial investment of $300,000 into Matrix Biosciences. It’s almost like a modern-day knight’s quest, but instead of dragons, they’re slaying cancer cells!
Voting on the Future of Longevity
The discussion around using high molecular weight hyaluronic acid (HMW-HA) for its anti-cancer and longevity benefits started buzzing in November 2022. By March 2023, the DAO had rallied 35 of its members to vote using their VITA tokens. Spoiler alert: 30 members said yes, four abstained, and 1 brave soul voted no. Talk about a divided community!
Funding the Research
Once the votes were tallied, the team promptly converted USD Coin (USDC) stablecoins to fund their ambitious project. VitaDAO topped up Matrix Bio’s bank account, waving goodbye to a sweet chunk of change from their community treasury. What’s cooler is that they plan on more funding in 2024 through tokenizing their intellectual property. That’s some savvy financial maneuvering, if you ask me!
Behind the Research
Now, why HMW-HA, you ask? Well, this compound is derived from the tissues of naked mole rats, a rodent that keeps cancer at bay like it’s nothing. The longevity of these little guys has piqued researchers’ curiosity for ages. VitaDAO’s spokesperson hinted at the potential for this compound to revolutionize cancer treatment, which is no small feat in today’s medical landscape.
The Road Ahead
Matrix Bio isn’t just planning some quick experiments; they have their sights set on a longer journey. Once they complete the initial studies, they’ll have a chance to raise even more funding by issuing intellectual property tokens (IPTs). This next funding round is expected to kick off in early 2024, making this a project to keep an eye on!
VitaDAO is diving into an adventure of high hopes, looking to bring innovative solutions for cancer treatment into the clinical realm. As with any pioneering research, it’s too early to hand out medals, but the excitement in the air is palpable! Tune in next quarter for updates; this could be a game changer in the world of biotech.
