Use cases of NFTs in science and medicine
Mar 3, 2023 6:30:09 GMT -6
Post by staff on Mar 3, 2023 6:30:09 GMT -6
Apart from being used in the context of the entertainment industry and as a means of financial speculation there have been many instances as well as suggestions of NFTs being used for purposes related to scientific and especially medical purposes.[122] Those suggestions include minting patient data as NFTs,[123] tracking supply chains using NFTs[124] as well as minting patents as NFTs.[125]
The monetary aspect of the sale of NFTs is often used by academic institutions to finance research projects and endavours.
George M. Church, 2012
The University of California, Berkeley announced in May 2021 its intention to auction NFTs of two patents of inventions for which the creators had received a Nobel Prize: the patents for CRISPR gene editing and cancer immunotherapy. The university would however retain ownership of the patents.[126][127] 85 % of funds gathered through the sale of the collection were to be used to finance research.[128][129] The collection included handwritten notices and faxes by James Allison and was named The Fourth Pillar. It sold in June 2022 for 22 Ether, which was around US$54,000 at the time.[130]
George Church announced his intention to publish his DNA via NFT and use the profits made through its sale to finance research conducted by Nebula Genomics. In June 2022 20 NFTs with his likeness were published instead of the originally planned NFTs of his DNA due to the market conditions at the time.[122] Despite leading to mixed reactions the project is considered to be part of an effort to use the genetic data of 15,000 individuals to support genetic research. By using NFTs the project wants to ensure that the users submitting their genetic data are able to receive direct payment for their contributions.[122][131] Several other companies have been involved in similar and often critisized efforts to use blockchainbased genetic data in order to guarantee users more control over their data and enable them to receive direct financial compensation whenever their data is being sold.[130]
Molecule Protocol, a Web3-project based in Switzerland, is trying to use NFTs to digitalize the intellectual copyright of individual scientists as well as research teams and enable or simplify efforts to finance research through decentralized means.[132] The project's whitepaper explains the reasons for and ways by which they are planning to mint the copyright of scientific papers as NFTs and enable their trade between researchers and investors on their future marketplace.[133] The project was able to raise US$12 million in seed money in July 2022.[132] A similar approach has been announced by RMDS Lab.[134]
The monetary aspect of the sale of NFTs is often used by academic institutions to finance research projects and endavours.
George M. Church, 2012
The University of California, Berkeley announced in May 2021 its intention to auction NFTs of two patents of inventions for which the creators had received a Nobel Prize: the patents for CRISPR gene editing and cancer immunotherapy. The university would however retain ownership of the patents.[126][127] 85 % of funds gathered through the sale of the collection were to be used to finance research.[128][129] The collection included handwritten notices and faxes by James Allison and was named The Fourth Pillar. It sold in June 2022 for 22 Ether, which was around US$54,000 at the time.[130]
George Church announced his intention to publish his DNA via NFT and use the profits made through its sale to finance research conducted by Nebula Genomics. In June 2022 20 NFTs with his likeness were published instead of the originally planned NFTs of his DNA due to the market conditions at the time.[122] Despite leading to mixed reactions the project is considered to be part of an effort to use the genetic data of 15,000 individuals to support genetic research. By using NFTs the project wants to ensure that the users submitting their genetic data are able to receive direct payment for their contributions.[122][131] Several other companies have been involved in similar and often critisized efforts to use blockchainbased genetic data in order to guarantee users more control over their data and enable them to receive direct financial compensation whenever their data is being sold.[130]
Molecule Protocol, a Web3-project based in Switzerland, is trying to use NFTs to digitalize the intellectual copyright of individual scientists as well as research teams and enable or simplify efforts to finance research through decentralized means.[132] The project's whitepaper explains the reasons for and ways by which they are planning to mint the copyright of scientific papers as NFTs and enable their trade between researchers and investors on their future marketplace.[133] The project was able to raise US$12 million in seed money in July 2022.[132] A similar approach has been announced by RMDS Lab.[134]