The NFT version of a cancer treatment invention will be finally be auctioned 

Cancer immunotherapy is recognized to be a breakthrough discovery in the medical field. It became the fourth major way of battling cancer, which, in the past, only includes radiation, chemotherapy, and surgery. 

And now, the 10-page details of the discovery, which were submitted in 1995, have been turned into an NFT and are scheduled to be auctioned. The NFT was minted at the University of California, Berkeley.

Historical moment

Indeed, NFTs are not always about stunning visuals and ear candies; they can also be about a defining moment in history. 

Rich Lyons, chief innovation and entrepreneurship officer at UC Berkley, highlighted why the NFT version of the cancer immunotherapy papers would interest anyone. ”Because it represents something different,” he said.

Auction details

The auction will last for one whole day from June 3 to 4. The organizers also decided to provide an additional 15 minutes for the bids that will be received 15 minutes before the deadline.

Participants of the auction are required to have an ethereum wallet that already contains ethereum cryptocurrency. As of this writing, the current value of one ETH is $2,500.

The NFT will have a reserve price of 4 (ETH) ethereum which is equivalent to $10,000. It was announced that the proceeds would directly go to the research about countering the harmful effects of NFT transactions such as minting and auctioning. 

The man behind the breakthrough

James Allison discovered cancer immunotherapy and received a Nobel prize for that breakthrough work last 2018. 

And since Allison developed that discovery at the University of California, Berkeley, all his triumphs (including the eventual NFT transformation of his works) are also a proud moment for the University. 

Mike Alvarez Cohen, a part of UC Berkley’s intellectual property office, has said that the university “might have pioneered a new NFT category and a way for universities to memorialize and monetize their history-making discoveries.” 

 

Image courtesy of Cointelegraph News/YouTube

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