Genetic NFT Marketplace

In the course of the last years, the genetics data market has grown, allowing normal citizens to gain access to DNA sequencing at an accessible price. The genomes, sequenced by specialized agencies, get given to clinics, laboratories, and other medical research facilities with the user’s agreement.

With this process, the users in possession of sequenced and certified genome, partnered to a precise identity, can put it for sale through auctions or directly by an established price to the facilities in need.

The system describes hereby has two big criticalities: the first one is about the real value of genetics data and who actually profits from them. The sequenced DNAs are used to develop important scientific researches and medications worth hundreds of thousands or even millions of dollars. Such profits get cashed in mainly by institutes, forgetting about whoever has contributed to the research putting in their own genetic material. The second criticality to point out is the agreement to the usage of certain data or knowing to which facilities get access to it, rights that aren’t always respected.

In order to solve these criticalities, giving the users or one of their representatives the possibility to decide how and who to sell their data to, receive part of the profits obtained by their usage and, on top of all, being sure that they aren’t treated without their own explicit direct consent is fundamental and way fairer. And it is with this purpose that the GENOZAR project has been conceived. The project envisages the development of an online selling platform (marketplace) where the users in possession of an accordingly sequenced and certified genome, partnered to a precise identity can put it for sale through auctions or directly by an established price to the facilities in need. To grant the certification and the data possession, a nonfungible Token (NFT) will be created, denominated Genetic Token (GTK).