Exploring Emerging DeSci Projects: GenomesDAO

GenomesDAO is an intriguing decentralized science ( DeSci ) project that recently received investment from Pantera Capital and Modular Capital. The project focuses on the field of genomics and belongs to the DeSci and DAO tracks. Its native token $GENOME is currently running on the Base chain and has been listed on several trading platforms.

DeSci: A New Paradigm for Scientific Research

Decentralized Science ( DeSci ) aims to reshape the financing, collaboration, and intellectual property protection of research projects through Web3 technology. Although the DeSci field has gained attention from some well-known institutions and industry insiders, it is still in its early stages compared to the currently popular Meme coins and AI concept coins. However, considering the potential of DeSci to revolutionize research methodologies, this field may see significant development in the future.

GenomesDAO: Empowering Users with Control Over Genetic Data

GenomesDAO was established in 2018 and is one of the pioneers in the DeSci field. It is a decentralized autonomous organization focused on biotechnology, providing a secure, decentralized, and incentivized genomic testing platform. In the current context where genome data privacy is of great concern, the emergence of GenomesDAO is particularly significant.

The core concept of this platform is to return the ownership and control of genomic testing data to users. Unlike traditional models where users cannot benefit from their own genetic data, GenomesDAO allows users to manage their "on-chain database" and profit from it. This model combines privacy protection, data sovereignty, and token incentives.

User Participation Model

The operational process of GenomesDAO is as follows:

1. Provide users with genetic testing services
2. Upload the detection data to a secure DNA database that only the user can access.
3. Third-party organizations (such as pharmaceutical companies) can use platform tokens to apply for access to DNA data.
4. Users can independently decide whether to agree to the data usage request, and if they agree, they will receive token rewards.

Currently, this service is primarily aimed at European users. Users need to pay £349 to obtain a sample collection kit and receive an NFT similar to an SBT to bind their personal wallet. After completing the sample testing and data upload, users can start "mining" using their genetic data.

$GENOME Token

$GENOME is the native token of GenomesDAO, with multiple functions:

• A payment method for third-party institutions to access user data.
• Users unlock payment tools for disease detection reports
• DAO governance token, which can obtain voting rights and token rewards through staking.

Future Outlook

GenomesDAO has the following advantages:

• Actual available products and revenue models
• Narrative of promising projects
• Continuous investment from the development team
• Relatively low market value and attention
• Recently received investment support from Pantera Capital.

It is worth noting that although the overall attention to the DeSci field is not high, the small team of GenomesDAO is still actively advancing:

• Strive to collaborate with governments and pharmaceutical companies to create more data monetization opportunities for DAO members.
• Try to attract users from traditional genetic testing companies.

In summary, $GENOME may become a promising investment opportunity. However, investors need to be patient and wait at least until the DeSci field heats up overall. Many venture capital firms mentioned DeSci in their outlooks at the end of 2023, which may indicate the future direction of the industry.

Please note that this article is for reference only and does not constitute investment advice. Before making any investment decisions, please be sure to conduct thorough research and risk assessment.