VitaDAO, the global community accelerating research and development in longevity science, is pleased to announce the launch of the VITA-FAST tokens. This marks the first-ever opportunity for token holders to directly influence longevity research, setting a new precedent in the field of decentralized science (DeSci).
The VITA-FAST tokens, which allow holders to make decisions on IP licensing, set experiment priorities, and govern research on autophagy, have been met with overwhelming interest. The initial token sale was 2,000 percent oversubscribed, with $620k in bids, demonstrating the public's eagerness to participate in scientific research.
This groundbreaking initiative is spearheaded by the esteemed Korolchuk Lab, led by renowned cellular biologist professor Viktor Korolchuk. The lab's work focuses on autophagy, a process vital to cellular health and implicated in ageing and various diseases. The launch of VITA- FAST tokens not only provides financial support for this cutting-edge research but also fosters a community-driven approach to biomedical research.
Alex Dobrin, head of community at VitaDAO, said, "This is the next phase in the evolution of decentralized patient communities, to directly contribute to, govern, and be rewarded for progressing valuable longevity research."
VitaDAO engaged its community in the token sale by using a newly launched crowdsales platform developed by Molecule AG, which developed the original IP-NFT platform for capturing IP in web3, and is a strategic contributor to VitaDAO.
"The success of the VITA-FAST token sale is a testament to VitaDAO's innovative approach to integrating public participation into scientific research. It also underscores the potential of decentralized finance (DeFi) to fill in the gaps left by traditional funding agencies," as noted by Paul Kohlhaas, CEO of Molecule.
Professor Matthew Grenby, Pro-Vice-Chancellor for Research and Innovation at Newcastle University added "It’s great to see this cutting-edge research going out into the world, and we are excited to be at the forefront of biomedical research funding. We look forward to supporting Molecule AG and VitaDAO with development of this novel platform and commercialization of their IP."
The VITA-FAST token offering marks a significant step forward for VitaDAO as it begins advancing its early research assets toward their next development milestones. The VITA-FAST tokens will provide ongoing options for funding for the Korolchuk Lab as it advances its research program.