Decentralised science market reaches $1.2B valuation

Decentralised science (DeSci) protocols are emerging as transformative tools in scientific research, drawing comparisons to the early stages of decentralised finance (DeFi) in 2019.  

Andrew Kang, founder and partner at Mechanism Capital, described DeSci as “raw” and “experimental” but with “massive potential” in a November 24 post on X.  

DeSci leverages blockchain technologies such as tokens, NFTs, and decentralised autonomous organisations (DAOs) to create community-driven scientific research models.  

These protocols aim to address systemic flaws, such as inefficiencies in peer reviews and high costs of genetic testing, while reducing institutional control, especially from large pharmaceutical companies.  

Kang highlighted promising DeSci projects, including BIO Protocol, Pump Science, and GLP1.  

BIO Protocol enables users to co-own “medicines of the future,” Pump Science facilitates token trading linked to longevity treatments, and GLP1 focuses on health-driven initiatives.  

Mechanism Capital recently invested in BIO Protocol, signaling growing confidence in the sector’s potential.  

The COVID-19 pandemic accelerated interest in DeSci, as researchers sought innovative methods to tackle global health challenges.  

By using blockchain’s transparency and security, DeSci aims to make scientific data more accessible to researchers, healthcare professionals, and patients.  

The current market cap for DeSci projects is approximately $1.2 billion, with OriginTrail (CRYPTO:TRAC) leading at $374.9 million, Rifampicin (CRYPTO:RIF) at $133.1 million, and VitaDAO (CRYPTO:VITA) at $124.7 million, according to CoinGecko data.  

Kang compared DeSci’s trajectory to DeFi protocols like Maker (CRYPTO:MKR) and Aave (CRYPTO:AAVE) in 2019, which refined their models before achieving widespread adoption.  

DeSci’s emphasis on “citizen science” and blockchain-powered solutions positions it as a potential game-changer in scientific research and healthcare.