Global DeSci community hopes to revolutionize governance in research, accelerating and democratizing longevity.
VitaDAO, the global community accelerating research and development in longevity science, has announced the launch of the VITA-FAST tokens. A landmark moment for the field, this marks the first-ever opportunity for token holders to directly influence longevity research and sets a new precedent in the accelerating field of decentralized science (DeSci).
Longevity.Technology: The VITA-FAST tokens, which allow holders to make decisions on IP licensing, set experiment priorities and govern research on autophagy, generating overwhelming interest, with an initial token sale that was oversubscribed by a whopping 2000%. $620k was received in bids – a testament to the enthusiasm that democratized longevity and research participation is creating. VITA-FAST token holders can interact directly with work at the Korolchuk Lab, playing a part in the journey that hopes to identify compounds that could potentially kickstart autophagy and rejuvenate aged cells.
This groundbreaking initiative has been spearheaded by the Korolchuk Lab at the Newcastle University in the UK; led by renowned cellular biologist Professor Viktor Korolchuk [shown in main photo], the lab’s work focuses on autophagy, a process vital to cellular health and implicated in aging and various diseases. The launch of VITA- FAST tokens not only provides financial support for this cutting-edge research but also aims to foster a community-driven approach to biomedical research – and this funding by cryptocurrency is a first for a UK university.
Alex Dobrin, head of community at VitaDAO, said: “This is the next phase in the evolution of
decentralized patient communities, to directly contribute to, govern, and be rewarded for progressing valuable longevity research.”
VitaDAO engaged its community in the token sale by using a newly launched crowdsales platform developed by Molecule AG, which developed the original IP-NFT platform for capturing IP in web3, and is a strategic contributor to VitaDAO. The Korolchuk project is valued at $285,000
“The success of the VITA-FAST token sale is a testament to VitaDAO’s innovative approach to integrating public participation into scientific research,” said Paul Kohlhaas, CEO of Molecule. “It also underscores the potential of decentralized finance (DeFi) to fill in the gaps left by traditional funding agencies.”
Professor Matthew Grenby, Pro-Vice-Chancellor for Research and Innovation at Newcastle University added: “It’s great to see this cutting-edge research going out into the world, and we are excited to be at the forefront of biomedical research funding. We look forward to supporting Molecule AG and VitaDAO with development of this novel platform and commercialisation of their IP.”
The University said the process was “incredibly smooth”. Matt Abbott, Business Development Manager in our Faculty of Medical Sciences said the University planned to “keep an open mind and experiment further with this innovative new type of funding.” [1]
The VITA-FAST token offering marks a significant step forward for VitaDAO as it begins advancing its early research assets toward their next development milestones. The VITA-FAST tokens will provide ongoing options for funding for the Korolchuk Lab as it advances its research program.
[1] https://from.ncl.ac.uk/funding-science-through-blockchain-technology-and-cryptocurrencies
