The Science DAO, a decentralized fundraising platform that offers pre-IPO investment options in breakthrough technologies and projects, debuted on May 5, 2022.
The objective of the Science DAO is to use Web3 to help fund disruptive and game-changing discoveries and make cutting-edge technology more accessible to the general public than ever before!
Being a decentralized autonomous organization built on the Ethereum blockchain, the team aims to leverage the community-building strength of DAOs to create a strong and loyal group of creatives and brilliant minds.
The Science DAO – Making Brighter Dreams a Reality Regardless of Circumstances!
Many outstanding brains and creatives never get community backing for their ideas. Many of these concepts may never be implemented. The Science DAO works to nurture these ideas and provides everyone with access to like-minded and helpful people.
Members of the DAO will be able to apply for funding for projects. Not all initiatives will be picked, but even those that do not get direct money from the DAO have the potential to gain support from DAO members.
The Science DAO is driven by a group of strong, creative, and diverse people who want to make a difference in the world by democratizing scientific funding and creating a space for innovators to obtain funding.
Further, it’s a decentralized think tank, incubation engine, and accelerator platform intended at enabling innovators, entrepreneurs, and institutions to interact and make informed investments across a broad range of technology and life sciences.
The purpose is to make cutting-edge technology and scientific advancements accessible to the general public to improve society and mankind. The ultimate objective would be a fully functional DAO for science.
NFT Creation and Marketing
The Science DAO is a Venture Fund that aims to fund projects from their inception through to launch and beyond. Through NFT production and marketing, the DAO will fund these initiatives from both the digital asset and non-digital asset communities.
Every innovation presented on the platform will have an NFT made as a fundraiser, with the revenue from the NFT sales going to the intended cause. The NFTs would have utilities associated with them, such as the chance to acquire a market-ready product early or access to privileged series A and B funding rounds.
Trading the Science DAO Token
The Science DAO token THEORY ($THRY) will be used as a governance token to democratize and decentralize the project funding process. Token holders will have voting rights proportional to their token holdings as a percentage of the total token supply.
Holders of tokens will also have direct access to procedures and advancements throughout the project’s existence.
To purchase the token, investors must first register a MetaMask wallet, which lets them buy, sell, send, and receive THRY tokens. Ethereum can then be transferred to the Wallet.
Additionally, investors may purchase Ethereum straight from MetaMask as well as other exchanges.
The Metamask wallet will be linked to UniSwap for a quick exchange of Ethereum for THRY Tokens. Then, anybody holding a THRY token may vote on projects.
The initiative’s goal is to distribute developing, innovative technology and scientific advancements to the general public to better society and humanity.
Step-By-Step Procedure for Project Nomination
The Science DAO’s operation is straightforward. Any person seeking funding for an idea or project must first submit their proposal to the DAO.
The project is next evaluated by the DAO members, who then vote on it. Each governance token, like most other DAOs, is regarded as one vote.
The DAO develops a related NFT that reflects the fundraising when the project is approved. The whole profit from the sale of these NFTs (minting and secondary market sales) goes toward the project’s development.
There would undoubtedly be a large number of projects that would be rejected, but innovators might still acquire funds and be fostered by individuals within the DAO.
Aside from that, the Science DAO is a decentralized experiment. As a result, using DEXs for trading is the route that suits Science DAO best.
Source: https://bitcoinist.com/science-dao-provides-pre-ipo-investing-access/