VitaDAO’s Landmark Event
Yesterday marked the first VitaDAO Crypto Longevity Symposium. Hosted by Max Unfried and Eleanor Sheekey, the 7-hour online event was jam-packed with industry thought leaders discussing how the worlds of Web3 and aging research converge.
But before we get to bones of it all, let’s back it up a bit…
What’s VitaDAO?
Launched in 2021, VitaDAO is a community-owned organization focused on funding early stage longevity research. Its mission is to extend human lifespan by collectively financing and commercializing longevity therapeutics in an open and democratic manner.
Put simply, you can think of VitaDAO as an incubator of sorts. For example, so far VitaDAO has helped fund the following longevity projects:
DAOs: The New Firm?
Traditionally, longevity organizations were structured as either a public, private, or non-profit. But thanks to the emergence of crypto and various token incentives, DAOs (Decentralized Autonomous Organizations) now have a seat at the table.
DAOs make it possible for like-minded people to safely collaborate and coordinate on a global scale. Unlike traditional organizations in the biotech space, intellectual property (IP) rights are collectively owned and managed by members of the DAO. Corporate decisions are also governed by members writing proposals and voting to ensure everyone in the organization has a voice.
The Bigger Picture
Emerging science-focused DAOs such as VitaDAO, LabDAO, MoleculeDAO, PsyDAO, and OpSci are at the forefront of a new movement called Decentralized Science (or, “DeSci”).
One of the biggest headwinds for early-stage biotech companies – including those in the longevity sector – is that, outside of grants, funding for drug development is extremely limited.
Furthermore, R&D has become expensive and siloed, largely due to how IP business models incentivize the innovation of patents inside protected portfolios. As a result, companies are disincentivized to collaborate with others in the field. This limits transparency and prevents the public and patients from having any real ownership in the IP.
The DeSci movement aims to fix this – putting a facelift on a business model that has barely evolved for the past century. For the first time ever, communities like VitaDAO allow ordinary people and industry enthusiasts to decide where funding goes through tokenized voting.
For the entire longevity and aging industry – and the several early stage biotech companies involved – DeSci is the perfect marriage. The greater push for a transparent, collaborative, and open source biopharma industry will have a massive impact for longevity research and drug development in the years to come.
See It For Yourself
To come full circle, VitaDAO’s latest online event is a great place to start for those who want to dig a little deeper. (This essay published by venture capital firm, a16z, is another great primer on the matter)
The event, which hit the web yesterday, features Brian Kennedy of the National University of Singapore, Morten Scheibye-Knudsen of the University of Copenhagen, Vittorio Sebastiano of Stanford University and other well-known professors, professionals, and panelists.
You can watch the entire event at your own pace here on YouTube.
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