[Press Release – London, United Kingdom, 25th April, 2021, Chainwire] The marketplace is said to provide options for people to take control over their own genetic data, supporting research projects for the greater good. It also lets celebrities donate a portion of their proceeds to charities, providing their fans with an exclusive opportunity to own unique memorabilia. Shivom, the global marketplace for genomic and healthcare data that operates with the OMX token, is rolling out the world’s first NFT marketplace for genomic data. NFT is an acronym for “non-fungible token”, a blockchain technology that can be “minted” to document digital ownership of an underlying physical or digital asset that constitutes a unique tamper-proof certificate of authenticity. Many experts
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[Press Release – London, United Kingdom, 25th April, 2021, Chainwire]
The marketplace is said to provide options for people to take control over their own genetic data, supporting research projects for the greater good. It also lets celebrities donate a portion of their proceeds to charities, providing their fans with an exclusive opportunity to own unique memorabilia.
Shivom, the global marketplace for genomic and healthcare data that operates with the OMX token, is rolling out the world’s first NFT marketplace for genomic data. NFT is an acronym for “non-fungible token”, a blockchain technology that can be “minted” to document digital ownership of an underlying physical or digital asset that constitutes a unique tamper-proof certificate of authenticity. Many experts expect NFTs will play a central role in the healthcare data sharing economy, and Shivom is at the forefront of this revolution.
“We are delighted to launch the world’s first genomic NFT marketplace to enhance our offering in the field of precision medicine”, said Dr. Axel Schumacher, CEO of Shivom. “While NFT markets were usually focused on artworks and decentralized finance (DeFi), we moved the whole field into the healthcare space, empowering individuals to take control over their own genetic data. Proceeds from the sales are shared with charities and research projects tackling genetic diseases that plague humanity. We will raise awareness for data sharing to fight rare diseases and offer people the opportunity to participate proactively in scientific progress”.
It is Shivom’s mission to move NFT technology from the collectible realm into scalable economies that provide real use cases such as medical research. Sharing one’s genome data enables the option of providing genomic information (or parts of it) in an anonymized form to research, supporting the scientific exploration of the genome. Sharing health data will help the global science community in its mission to understand, prevent, detect and better treat disease. Whenever an NFT of one’s DNA is created, a certain percentage can be set as royalty for secondary use, for example when pharmaceutical companies request licensing of said data.
Gourish Singla, co-founder and Chief Strategy Officer of Shivom said: “Just like our genome information that is unique to each individual, an NFT is a one-of-its-kind asset that is non-fungible in nature. As such, tokenizing genetic data makes perfect sense”.
Producing NFTs out of their genome, celebrities are offered a completely new way of giving something back to their fans and at the same time being able to raise money for the greater good. For the collectors of memorabilia, it is a unique chance to literally own pieces of their favorite social media influencers, athletes, musicians, or movie stars. It is planned that all NFTs developed on the marketplace will be fully compatible with Shivom’s already existing precision medicine platform that also functions as a secure vault for the genome sequence. A part of all proceeds will also be invested to build the OMX healthcare crypto ecosystem to revolutionize global healthcare systems, providing an opportunity for everyone to harness the potential of an equitable and truly borderless healthcare economy. The ecosystem will drive adoption, facilitate partnerships, ensure stakeholder accountability, and help to grow the global OMX token-based health community, particularly in emerging healthcare systems.
The company expects the first sales in early May. Interested parties can already sign up on the NFT website.
The new NFT marketplace will complement Shivom’s already existing data sharing and data analytics ecosystem, which helps to accelerate precision medicine, drug discovery, and translational research into a new era of democratized healthcare. The Shivom platform operates with smart contracts for adding business rules, automation, data provenance, access permissioning, audibility, and establishing trust through decentralized data logging. Shivom also provides an epidemic preparedness solution designed to generate research that enables rapid health responses to the current COVID-19 pandemic as well as to future pathogen outbreaks.
About Shivom
Enter a new era of precision medicine, transforming how lab & clinical data is shared and analyzed. The Shivom platform, leveraging the healthcare $OMX token ecosystem, is a revolutionizing data & algorithm marketplace that combines secure and global multi-omics data marketplace, with an easy-to-use, drag & drop bioinformatics & AI platform.
Headquartered in London, UK, Shivom’s mission is to build the world’s largest genetics & precision medicine data marketplace, empowering the research community to challenge the status quo, making scientific breakthroughs available to patients worldwide. Shivom’s ecosystem of partners and customers spans several continents including a major European Precision Medicine consortium.