Binance Labs invests in BIO Protocol to advance DeSci, disrupt traditional funding

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Binance Labs, the venture capital arm of crypto exchange Binance, has made a strategic investment in BIO Protocol, a blockchain-based platform that aims to reshape early-stage scientific research funding.

The investment marks Binance Labs’ first foray into the emerging Decentralized Science (DeSci) sector, highlighting its commitment to leveraging blockchain technology for societal impact.

BIO Protocol’s innovative model provides an alternative to the traditional, often cumbersome funding avenues for scientific research, particularly in underfunded fields such as rare diseases and mental health.

Decentralized incubator

BIO Protocol operates similarly to a decentralized incubator, drawing in scientists, patients, and investors to jointly finance and develop new biotechnologies.

Through its network of Biotech Decentralized Autonomous Organizations (BioDAOs), BIO Protocol enables stakeholders to co-own and contribute to research projects, fostering a collective approach to breakthroughs in biomedical science.

Presently, BIO Protocol’s ecosystem includes seven BioDAOs dedicated to fields like cryopreservation, women’s health, and psychedelics for mental health.

The upcoming cohort will expand to address critical needs, including research on Long COVID treatments, rare disease therapies, and pioneering quantum microscopy for biological observation.

Binance Labs’ investment will accelerate the growth of the BioDAO ecosystem, providing seed funding for new BioDAOs and expanding the support network available to these decentralized research communities.

The funding is anticipated to drive BIO Protocol’s overarching vision of creating an autonomous infrastructure for scientific research funding.

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