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UC Berkeley auctions Nobel Prize-winning invention as NFT
NFT has always been the backbone around various upcoming projects and companies. From music to fashion to sports—and others—NFT has always been a hot topic. Now, the University of California, Berkeley, is seeking to fund research through two NFTs at the core of the “biomedical breakthrough.”
The magnificent mint
in announcement Today on the website of the University of California, Berkeley, the university shared that two Nobel Prize-winning inventions will be bid for. The NFT will consist of internal forms and research-centric communications that have led to two breakthrough biomedical advances.
One of the two NFTs, named “Pillar 4”, has Cast on Foundation It will be available in a 24-hour auction as early as Wednesday, June 2. NFT represents an invention around cancer immunotherapy developed by Jim Allison of the University of California, Berkeley. Alison’s findings shared the 2018 Nobel Prize in Physiology or Medicine. The name stems from the fact that immunotherapy has become the “fourth pillar” of cancer treatment, alongside surgery, radiation and chemotherapy.
The second uncast NFT will recognize Jennifer Doudna of the University of California at Berkeley for winning the 2020 Nobel Prize in Chemistry, mainly around CRISPR-Cas9 gene editing. The information release pointed out that the university will continue to hold patents related to the research.
Foundation.app is an Ethereum-powered NFT marketplace. | Source: ETH-USD on TradingView.com
The proceeds from the foundation auction will be used to fund innovative research and education, part of which is dedicated to the Blockchain Innovation Center of the University of California, Berkeley and the student group “Berkeley Blockchain. The university has also participated in the blockchain through other means, such as Berkeley Blockchain Xcelerator, a blockchain-focused course and cooperation with industry executives.
Rich Lyons, the university’s chief innovation and entrepreneurship officer, said the release “represents an amazing thing”. Lyons added: “Some people know and care about the symbol of great science. Even if they never intend to resell NFT, they want to own it. They want the resources to go back to Berkeley, where the basic research prizes behind these Nobel Prizes come from, To support further research”.
The university will also extract part of the proceeds and allocate it to carbon offsets to eliminate the energy costs of casting NFTs.
For the universities here, this is an uncharted territory, because there is no precedent for such NFTs. However, for the Lyon and Berkeley teams, this seems a bit attractive. “People have been donating to us because they care about institutions and science, so there is a way for someone to invest in institutions in a slightly different way,” Lyon said.