UC Berkeley auctions Nobel Prize-winning inventions in the name of NFTs

NFTs have been a pillar around a variety of upcoming projects and companies. From music to fashion to sports – and beyond – NFTs have been a hot topic. Now, UC Berkeley is looking to fund research with two NFTs at the heart of “Biomedical Breakthroughs.”

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at Advertising On the UC Berkeley website today, the university shared that two Nobel Prize-winning inventions will be up for auction. The NFTs will consist of in-house and correspondence models centered around the research that has led to two ground-breaking advances in biomedicine.

One of the two NFTs, titled “Pillar IV”, has It was minted on the basis It will be listed in a 24-hour auction starting Wednesday, June 2nd. The NFT represents an invention on cancer immunotherapy developed by Jim Allison of the University of California, Berkeley. Allison’s discovery shared the 2018 Nobel Prize in Physiology or Medicine. The name derives from immunotherapy that has become the “fourth pillar” of cancer treatment, along with surgery, radiation and chemotherapy.

Jennifer Doudna of UC Berkeley will recognize the 2020 Nobel Prize in Chemistry, which centers on CRISPR-Cas9 gene editing. The media statement indicated that the university would continue to hold relevant patents surrounding the research.

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Blockchain in Berkeley

Proceeds from the foundation’s auction will go toward funding innovation research and education, with a portion specifically earmarked for UC Berkeley’s Blockchain Innovation Center and student group, “Blockchain at Berkeley.” The university has also been involved in blockchain through other means, such as Berkeley Blockchain Xcelerator, a blockchain-focused curriculum and partnerships with industry executives.

The release “is a great thing,” said Rich Lyons, the university’s chief innovation and entrepreneurship officer. Lyons added that “there are people who recognize and care about the great icons of science, and even if they never intend to resell the NFT, they want to own it and want the resources to go back to Berkeley, where the fundamental research behind these Nobel Prizes came from, to support further research.”

The university will also take a portion of the proceeds and allocate them to carbon offsets to eliminate the energy costs of the NFT mining.

It’s uncharted territory for the university here, as no precedent has been set for an NFT like this. However, for the Lions and the Berkeley team, there seems to be little attraction in this sense; “People give us donations all the time because they care about the foundation and the science, so this is a way for someone to invest in the foundation a little differently,” Lyons said.

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