I have been inspired by the builders implementing web3 in ways that disrupt legacy systems by empowering community contributors. The healthcare and pharmaceutical industries are prime candidates for their reimagining with DeSci (Science Through Alternatives to Web 3) being the catalyst. The biggest scientific breakthroughs start with an idea that becomes so compelling that it turns into research.
When does the idea actually appear? Perhaps the nanosecond after the clamp fire generates a random mix of previous ideas and new components. It might take a little longer. Every once in a while, even the best ideas go back to their inception as fast electrical signals seep into the ether. And most importantly, at what point does this idea generate value?
Some ideas are seeds that need energy and fuel to mature to their fullest potential, while a very small amount is immediately scalable on their own. Even early seeds can have real value, especially if they are given access to energy and fuel. web3 provides this access through projects such as compound.
What is a molecule?
Molecule is a decentralized biotechnology protocol that connects academics and biotech companies with funding, while enabling communities of patients, researchers, and investors to directly control and own research-related intellectual property.
Have you ever wondered how pharmaceuticals got to the market? From a very high level, it starts with a promising researcher who receives a grant from an organization like the National Institute of Health (NIH) to expand on their primary research. Usually the researcher we are talking about is assigned to a university, where the research leads to a discovery and moves towards a patent held by the Technology Transfer Office (TTO). Outside of academia, pharmaceutical companies are looking for patents owned by TTOs that meet their profitability and business goals.
A drug company identifies the researcher’s work and obtains a patent license with the Technology Transfer Office to begin development of the drug. One challenge with this model is that pioneering research can be delayed with the potential to save lives if the steerable market is less than what is required for the pharmaceutical company to make the investment.
Imagine finding research that can help a condition your family member has struggled with for years. Now, keep in mind that the same research is being conducted through a financial model that drug companies use to make investment decisions, and it doesn’t meet the investment criteria because there is no market to handle. The solution is there for you and your family, but the means for implementation are not. In the current model, the research will likely not be used to develop a drug.
The value can be subjective, and is usually associated with someone or something that assigns that value. In venture capital and public markets, ideas become disguised with patents or clear sales. The potential is clearly defined, and the risks of any investment are mitigated to some extent. What if the value could be captured early in the process? How can this earned value help reinvent the drug development process? Can some form of distributed and decentralized innovation be applied to some of healthcare’s biggest challenges? The molecule seems to think so.
molecule protocol stack
The Molecule protocol package enables the value of pre-patent research to be captured, while connecting it to funding sources and stakeholder communities.
IPNFT Embodies the value of a promising idea in the gap between research and a patent or product. IPNFTs combine smart contract and IP licensing into a single toolkit.
discovery of the molecule A platform where researchers can create a project detailing their research and milestones and funding required for each milestone.
MOLECULE FINANCE – Using the DAO and DeFi structures, members can choose the resources of the most promising projects and share ownership of IPNFT.
Powered by a desire to create positive disruption and Web 3 technology, Molecule is breaking down barriers to medical innovation that can change people’s lives. Using this model, a group of people dealing with a similar illness can come together and put their energy toward finding a cure.
In the past, all they could do was raise money for nonprofits related to their illness, while many diseases don’t even have a nonprofit to fund it. In this case, patients now have access to pharmaceutical pipelines and the ability to support solutions for specific diseases and illnesses. By organizing as a DAO, this community can become the vehicle that supports treatment. The DAO can select a research project on the Molecule platform and decide to acquire the IPNFT associated with the research.
as an example, vitadao (DAO focuses on longevity) It has a community of thousands of members including researchers and scientists. By purchasing a $VITA token, members can vote on proposals while helping fund DAO’s treasury of projects related to longevity.
Now, instead of TTO licensing a patent to a pharmaceutical company, DAO can get involved and even simplify the solution development process. Furthermore, the DAO can provide these same people the opportunity to collect their data to share with research teams. With web3, access to that data can show actual returns to the individual service provider.
Image linked to Molecule’s first IPNFTMolecule’s first project involved research called “Longevity Molecule” initiated by the Scheibye-Knudson Laboratory of the University of Copenhagen. IPNFT for this research was purchased by VitaDAO.
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*All investment/financial opinions expressed by NFT Plazas are derived from the personal research and experience of our site administrators and are intended to be educational materials only. Individuals have to do a complete research on any product before making any kind of investment.
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