Crypto investment firm Sora Ventures has invested an undisclosed sum in Coinbase CEO Brian Armstrong-backed decentralized science (DeSci) project ResearchHub, the firm told CryptoSlate in a statement.
ResearchHub is one of the most dominant community platforms for researchers to open-source their works. The company allows users to earn crypto rewards, ResearchCoin (RSC), for contributing new knowledge to the scientific community.
Why Sora Ventures invested in DeSci
Jason Fang, the managing partner of Sora Ventures, said the Asia-based venture capital firm was in the decentralized science sector because they consider it the next prominent innovation within the web3 space.
DeSci describes the idea of open-sourcing science-based projects to create communities that can finance their goals. This will allow researchers and scientists to pursue their mission without being subject to a centralized authority.
While DeSci is a relatively new niche with little mainstream interest, Fang believes investors like Sora must be early adopters of a sector with tremendous growth potential.
How tokenization can aid DeSci
Fang highlighted that firms in this sector could tokenize to attract investors who will fund their research interests, knowing they stand to benefit immensely from its success.
Fang highlighted how VeChain’s (VET) tokenization helped it survive when most enterprise blockchain firms could not raise new funds from their investors between 2014-2015.
According to Fang, tokenization can be brought to DeSci, allowing investors to pool resources to support research missions. He added that these tokenized science projects are better and more meaningful investment opportunities than metaverse, entertainment, and gaming.
Several decentralized autonomous organizations (DAO) are already being created to exploit the new space. These include the likes of HairDAO, VitDAO, BeakerDAO, MoleculeDAO, etc. While most of these DAOs were created by scientists, venture capital firms are getting involved and offering value with structuring and tokenomics.
Disclosure: Sora Ventures is an investor in CryptoSlate.
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