The decentralized science (DeSci) platform Bio Protocol has garnered support from investors like Maelstrom Fund and Animoca Brands to enhance its AI-driven biotech research framework.
On Wednesday, Bio Protocol announced that it raised $6.9 million in funding, highlighting a growing interest in decentralized methods for drug discovery that incorporate AI, blockchain, and community participation.
Arthur Hayes, founder of Maelstrom, referred to Bio Protocol as a potential “category-defining launchpad” for scientific research. “If it works, it’s not just a launchpad – it’s the onset of an AI-native research market,” he stated.
Hayes further emphasized the platform’s ability to create research opportunities that resonate with communities, extending beyond the interests of the academic sphere.
Cointelegraph reached out to Maelstrom and Animoca for additional insights, but did not receive a response prior to publication.
Accelerating science with AI and cryptocurrency
DeSci is a movement that leverages blockchain technology, crypto incentives, and decentralized governance to transform the conduct, funding, and dissemination of scientific research.
Bio Protocol claims it is accelerating scientific progress by merging crypto and AI. This strategy streamlines the drug discovery pipeline through blockchain-enabled funding and coordination.
Instead of waiting extended periods for traditional grants or pharmaceutical collaborations, researchers can deploy decentralized AI agents known as “BioAgents” that formulate hypotheses, link to on-chain wallets, and move community-raised funds into experiments.
All stages of the process will be documented on-chain, ensuring that contributors receive due credit and preserving an immutable record of research advancement.
The protocol further employs crypto-based incentives to expedite research. It incorporates tokenized intellectual property, staking mechanisms, and loyalty rewards to align the interests of investors, researchers, and community members towards shared goals.
Related: ‘Science needs an update’: How DeSci can fix junk science and cure baldness
Tackling inefficiencies in academic research
Simon Dedic, founder of Moonrock Capital and one of Bio Protocol’s investors, stated that DeSci’s initial phases can “sometimes resemble a meme.” However, he believes Bio Protocol has the potential to significantly reform the academic science landscape.
“Having come from academic science, I understand how flawed the system is, with heavily misaligned incentives leading to dire ramifications across the board,” Dedic remarked, suggesting that this project could revitalize the field of science.
The organization positioned its efforts as part of a broader DeSci movement aimed at minimizing reliance on universities, government funding, and pharmaceutical companies, while enhancing accessibility to research for communities and independent scientists.
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