cryptojournalist
BIO Protocol is changing biotech. With eight BioDAOs valued at $200 million as of late 2023, they’re making biotech research faster and more open.
What’s an IP-NFT?
Paul Kohlhaas, BIO Protocol’s founder, launched intellectual property NFTs (IP-NFTs) to make biotech research easier to fund. IP-NFTs let investors buy rights to research, so projects get funding while investors own a piece of the innovation.
Spotlight on VitaDAO and HairDAO
VitaDAO, one of BIO Protocol’s BioDAOs, focuses on extending human lifespan. Pfizer invested $4.1 million in it this year, and it launched Matrix Biosciences in October. HairDAO also made a breakthrough, being the first DAO to file a patent in December.
Future Plans for BIO Protocol
BIO Protocol’s next big projects will focus on developing Long COVID and rare disease treatments and creating new quantum microscopes for groundbreaking research.
