What is the background of Pantera’s latest investment in DeSci project?

DeSci

Recently I have joined many DeSci project groups and found that there are many foreign users, and they are basically holders. They have been holding them since the small fire in 2021, and I am very optimistic about the future of this track. But it is obvious that there is not much attention paid to it in China?
DeSci, Decentralized Science, aims to build a public infrastructure using the Web3 stack to fairly and impartially fund, create, review, certify and store scientific research projects. Generally, there are three forms:
▪️Reshape the way scientific research projects are financed and allocated
▪️Reshape the way scientific research projects collaborate
▪️Use centralized storage to protect intellectual property rights
After years of development, although DeSci has been favored by institutions such as Coinbase, Messari, and Pfizer, as well as the attention of crypto giants such as V God, it has not yet entered the field of vision of Web3 users. Compared with the thousands of times Meme and AI concept coins that have emerged, it is still just a drizzle
However, judging from DeSci’s innovation in scientific research methods for the benefit of mankind, this track will have a performance that cannot be underestimated in the future

GenomesDAO: Return genome detection data to users

One of DeSci’s early projects, it was founded in 2018 and issued coins in 21 years. It is the parent company of Little Fox Wallet Incubated by Censensys, in partnership with AMD.
GenomesDAO is a biotech DAO, a secure, decentralized, incentivized genome testing platform. At a time when the California genetic testing company 23&me had a data breach, the existence of GenomesDAO to protect the security and privacy of user genome data is particularly important.
As we all know, the vision of Web3 is to return ownership and control of assets to users, whether it is financial, social, identity, or in-game assets.
Similarly, GenomesDAO is to return users' genome testing data to users.
▪️ Web2 ?? 23&Me uses user data to earn $30 million from pharmaceutical companies each year, and users get 0
▪️ Web3 ?? GenomesDAO Users manage the data in their own "on-chain vault" and use the data to make a profit
With the support of DAO, the platform has achieved: privacy protection ➕ data sovereignty ➕ token incentives

How to play? Use your own DNA to "mine"!

GenomesDAO's operating model:

Provide genetic testing services for users

Upload to the DNA database, only the user has access (security, privacy)

Third-party pharmaceutical companies use platform coins to apply for the use of DNA data

Users can choose whether to agree or not. If they agree, they will receive platform coins as compensation
Chinese users should not be able to participate because sample collection needs to be mailed, and the platform is in the UK. Then users in Europe can place an order on the official website for 349 pounds, and the official will send a sample collection kit, which contains an NFT similar to SBT (non-transferable) that can be bound to their own wallet. When the samples are sent back and the test data is uploaded to the library, only users who hold the corresponding NFT can access their own data.
You can then use the data to "mine" on the platform. You can choose whether to allow a third-party company to access your data and use the platform currency in exchange

Token

Recently, GenomesDAO completed the chain migration (to Base) and coin exchange
The new platform currency is $GENOME. In addition to being a payment token for third-party companies to exchange for data and a means of payment for users to unlock disease test reports, it also acts as a DAO governance token, which can be pledged to obtain voting rights and obtain token rewards
✧ Market value: US$16.5 million
✧ Current price: $0.0174

Future Outlook

From an investment perspective, GenomesDAO has available products, achievable revenue, a potential narrative, and developer perseverance;
Currently, both CEX and on-chain transaction volumes are not high, and neither is the market value;
It has not attracted excessive attention;
Pantera's latest blessing;
Interestingly, the DeSci track has yet to attract widespread attention, and many projects have already flattened, including quite a few rugged ones. However, the small team of GenomesDAO is still working hard:
- Working hard with the government and pharmaceutical companies to provide more data mining opportunities for DAO members
- Launching a "vampire attack" against several large genetic testing companies to acquire Web2 users (understandably, DeSci is not sexy enough for Web3 users, Fi is the eternal god)
To sum up, I think $GENOME has the opportunity to become a lucrative lottery, but at least you have to grit your teeth and get DeSci Season. I believe VC's vision will not be wrong (many VCs mentioned DeSci in their New Year's Outlook at the end of 2023)