Binance Labs, the venture capital arm of the cryptocurrency exchange, has made its inaugural investment in decentralized science (DeSci) by backing BIO Protocol. This accelerator aims to revolutionize the funding and commercialization of health sciences through a network of Biotech Decentralized Autonomous Organizations (BioDAOs). These BioDAOs focus on areas like rare diseases and longevity research, bridging gaps in traditional funding. The undisclosed investment from Binance Labs will support the expansion of the network, providing seed funding for new projects and enhancing community and tokenomics support. BIO Protocol, with eight BioDAOs under its belt, has already achieved a market cap of $200 million. Projects like VitaDAO, funded by Pfizer, and HairDAO, the first DAO to file a scientific patent, showcase the protocol's impact. The upcoming cohort will tackle Long COVID, rare diseases, and quantum biological phenomena with projects dedicated to these causes. Read more AI-generated news on: https://app.chaingpt.org/news