Binance Labs, the cryptocurrency exchange’s venture capital arm, has made its first investment in decentralized science (DeSci) by funding BIO Protocol. This accelerator aims to transform health sciences financing and commercialization by supporting a network of Biotech Decentralized Autonomous Organizations (BioDAOs). These BioDAOs focus on areas such as rare diseases, longevity research, and emerging health challenges. Although the specific amount of Binance Labs' investment remains undisclosed, it is intended to support new projects and strengthen the overall network with community and tokenomics support. Andy Chang, investment director at Binance Labs, emphasized that BIO Protocol signifies a merger of biotechnology with decentralized finance, aiming for long-term, real-world impact. Currently, BIO Protocol has eight BioDAOs, reaching a market cap of $200 million in November 2023. Noteworthy projects under BIO Protocol include longevity-focused VitaDAO and HairDAO, which became the first DAO to file a scientific patent. The next cohort of BioDAOs will tackle projects aimed at addressing Long COVID and developing quantum microscopes for observing quantum biological phenomena.

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