The NFT use case that's changing science

Ready for 2024?

Feels like everything is lining up nicely…

AI is powering transformational change across sectors.

Web3 projects are emerging from the bear.

Apple’s Vision Pro is rumoured to be launching.

Precisely the scenario Bionic was created for…

So let’s get into it ⏩️

THE BREAKDOWN

💎 Intellectual Property NFTs will unlock a New Era in Biotech 

Last week we had a think about the impact of decentralized science on healthcare.

Read the blog post here.

Now, we’re digging in on a core piece of this new infrastructure,

a use case for our dear friends, the non-fungibles….

broken down by the founder of one of DeSci’s biggest players.

Paul Kohlhaas is the CEO and Co-founder of Molecule.

He was speaking at the Bankless DeSci Virtual Unconference,

talking about their mission to transform early-stage drug development

as well as sharing their progress:

• Over 1,300 research projects

• 20,000+ community members

• $35M+ raised

So we summarised the main thrust of his presentation.

Thank us later…! 😄 

🔍 The Problem with Traditional IP in Pharma:

• Monopolistic Nature: Stifles collaboration and innovation

• Bureaucratic and Analog: Outdated processes, not digitized or programmable

• Inefficient Licensing: Long, costly negotiations hinder progress

💡 The Solution: IP-NFTs

• What Are They? Web3 native legal primitives, making IP programmable and transactable

• Benefits: Faster transactions, data-rich, and promotes open science

🌐 Molecule's Marketplace:

• Concept: A public marketplace for IP assets, similar to NFTs in the art space

• Functionality: Allows various stakeholders to collaborate and bring scientific projects to market

🔗 Anatomy of an IP-NFT:

• Components: Real-world legal contract, smart contract on Ethereum, metadata on Arweave, encrypted IP data

• Process: Simplifies and accelerates the funding and development of research projects

📈 IP-NFTs in Action:

• Case Study: Vita DAO's autophagy activator drug discovery project

• Success: Over 1700% oversubscribed, raising significant funds beyond the initial goal

🌟 The Future of IP-NFTs:

• Goal: Empower scientists and patients, reduce funding application time, and democratize access to medication

• Opportunities: Open for scientists, developers, and biotech entrepreneurs to join and innovate

📺️ Watch the full video:

💊 How does web3 enhance the scientific process?

An expanding DeSci movement underpinned by Web3 technologies promises a transformative shift.

But how exactly is this impacting the research process?

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ON YOUR RADAR

Head into 2024 with this little lot saved in your mainframe…

🔐 Vitalik goes back to the 90s in latest blog post

The ethereum founder draws on the 90s ethos of the fight for digital privacy and open source collaboration in his latest post.

The Mutant Turtles illustrations complete the vibe.

✨ OpenAI hardware project builds momentum

Legendary Apple design chief Jony Ive is said to be working on AI hardware devices. The form and nature of any device has yet to be announced. 🤔 

📊 BTC and Sol NFT trading exploded in Q4

⛓️ Messari has DePIN down as one of the big trends for 2024.

Sami Kassab went deep earlier in the year. A great place to start if you’re looking to DYOR.

☀️ This DePin project on Solana is powering AI GPUs

The project made the switch from Eth to Sol in November.

🥽 XR is about to explode

Apple’s Vision Pro launch is said to be imminent. Shipments start sooner than you might think. 📆 

In 2023 we saw some amazing AR projects. With an Apple consumer product launching, expect more magic 🪄✨ 

🏆️ Decrypt’s project of the year

Here’s the project they’re saying took Web3 by storm in 2023.

Agree?

🧮 What’s the point of points?

One man’s “Web3 solves the cold start problem by rewarding early adopters.”

Is another man’s: “This just distorts incentives and encourages a culture of degen farmers.”

Li Jin explores points as a thing.

Scroll down the article for a bonus - Variant Fund’s top original pieces of content from 2023 as well as a list of their favourites from elsewhere.

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