West Coast-based spatial data and analytics firm RMDS Lab plans to create its first dedicated scientific NFT marketplace by the end of the first quarter of this year.
RMDS Lab is a California-based data and artificial intelligence (AI) platform founded in 2009 by Alex Liu, former chief data scientist at IBM, to create a global community of data scientists and researchers and promote scientific innovation through data and AI .
As NFTs have grown in popularity, RMDS said the “enormous demand for NFT minting and listing” played a role in RMDS’ decision to create a way to sell NFTs for research and technology-related IP.
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According to data from cryptocurrency exchange Binance, the NFT market has surged by nearly 43,000% between 2020 and 2021. The goal of RMDS’s foray into NFT sales is to connect scientists with investors, and tech IP with relevant collectors, investors, and science enthusiasts. It aims to provide new financing channels for scientific and technological projects and accelerate the development of science and technology. NFTs are primarily based on art and music, but sometimes games and literature are added.
Liu explained, “It’s often difficult for scientists to get funding, and it takes a long time to get funding through traditional channels.” He added, “NFTs can simplify this and help people focus more on their realities. work at statement issued chemical world. “Furthermore, scientists don’t have many channels to reach investors, and the NFT marketplace can expand their reach.”
There have been moves by NFTs and science that may have sparked the idea that science could actually sell NFTs. In June 2021, UC Berkeley announced that they would be auctioning off the patent disclosures behind two Nobel Prize-winning discoveries made there by selling them as NFTs. They set aside a portion of their fundraising to support basic research at UC Berkeley; the program got better, and the university earned $55,000 from an NFT based on James Allison’s groundbreaking research behind cancer immunotherapy in the 1990s .
Liu acknowledged that the technology behind NFTs is still evolving and evolving to address these environmental concerns as well as security and copyright issues. “We have connections with a lot of blockchain AI experts, and we want to develop this market,” he said. “Through our talent pool, we hope to help solve some of these problems and make NFT trading better.”
The platform is still in development and is expected to be completed by the end of March.