Article reproduced from: Blockchain Knight
According to a recent report released by MV Global, decentralized science (DeSci) is expected to achieve significant growth by 2025, driven by practical memecoins.
DeSci involves integrating blockchain technology into scientific research, aiming to fundamentally transform the traditional scientific ecosystem by enhancing transparency, decentralization, and collaboration.
The report emphasizes that while this concept is not new, the focus and scope of these initiatives have changed.
Initially, most projects focused on providing research funding through decentralized autonomous organizations (DAOs). Notable examples include VitaDAO, HairDAO, and AxonDAO, which still hold influence in the DeSci field.
However, there has been a significant evolution in the field, becoming more diverse.
The report highlights various use cases of around 30 active projects, including research funding, health data management, and open-source research initiatives.
The report indicates that this diversification reflects the increasing maturity and adaptability of the DeSci ecosystem.
The goal of DeSci is to establish a more inclusive and equitable scientific ecosystem, enabling researchers and communities to collaborate and innovate without the constraints of central authorities.
The report points out a trend for 2024: the emergence of DeSci-specific memecoins.
While the success of most projects has been limited, two projects, Rifampicin and Urolithin A, have achieved significant development, with market valuations reaching approximately $73 million and $59 million, respectively.
These tokens are launched through the Pump.Science platform and, according to MVGlobal's assessment, their utility far exceeds that of traditional memecoins.
Tokens are directly related to scientific experiments, representing specific compounds or interventions tested on organisms such as worms, flies, and mice.
These tokens can serve as a funding mechanism for research, providing real-time updates on experimental progress and facilitating transactions based on research outcomes.
Holders of these tokens may even sell the rights to successful interventions, establishing a tangible link between token ownership and real-world scientific advancements.
MV Global expects Pump.Science to achieve significant expansion by 2025, with at least 10 projects projected to have a market value exceeding $100 million by the end of the year.
MV Global also predicts significant growth in health data management and open-source collaborative research by 2025.
Projects like Hippocrat and ResearchCoin are promising, with the former empowering individuals to control their health data and the latter aiming to create a 'GitHub for scientific research.'
It is expected that by 2025, the market valuation of these two projects will reach at least $200 million.
The report also predicts a significant increase in DeSci projects, with at least 50 projects expected to be listed by the end of 2025. This growth reflects positive market sentiment and increased liquidity in the industry.