Funding for fundamental science research based on blockchain technologies: «Banchenko market» (lucid dreams and other trnscendental states of consciousness market)

Interest in NFTs is rising, and they can help fund academic research alongside cryptocurrencies and blockchain technologies. Scientific interest in lucid dreaming grows 5.6% annually, and major investors now fund lucid dreaming research. The article proposes a business model for financing scientific research through a new "Banchenko Market" for lucid dreams and other transcendental states of consciousness, using NFTs, cryptocurrencies, and blockchain. Successful projects, such as a collaboration between the Research Institute of Sleep and Dreams in Moscow and D.Y. Banchenko on lucid dream induction techniques, have used NFTs for partial financing. Four NFT business models are identified: NFT creator, NFT market selling author's tokens, company offering proprietary fan tokens, and computer game with NFT sales. The research financing model relies on selling authors' NFT tokens.

Study at a glance

Abstract

Recently, there has been a significant increase in interest in the sale of NFTs. These digital assets can be used not only to address the issue of owning digital assets but also to form the basis of a business model for funding fundamental academic research, alongside cryptocurrencies and other blockchain technologies. Concurrently, a scientific study conducted by Daniele Pepe from the University of Leuven revealed that the scientific interest in lucid dreaming is growing at a rate of 5.6% annually. Moreover, a completely new trend has emerged, with major investors allocating funds to research on lucid dreaming. The aim of this article is to demonstrate the feasibility of using a business model for financing scientific research, exemplified by the establishment of a new "Banchenko Market" (Lucid Dreams and Other Transcendental States of Consciousness Market) based on the application of NFTs, cryptocurrencies, and blockchain technologies. Successful projects in the field of lucid dreaming research, such as the collaborative study between the Research Institute of Sleep and Dreams in Moscow and D.Y. Banchenko on exploring techniques for inducing and experiencing lucid dreams, serve as notable examples utilizing NFTs for partial project financing. This work identifies four NFT business models: (1) NFT creator; (2) NFT market selling author's NFT tokens; (3) company offering proprietary NFTs (fan tokens); and (4) computer game with NFT sales. In this research, the financing model for research is based on the sale of authors' NFT tokens. The study combines literature on business models and NFTs to bring clarity to established NFT business models in the context of the "Banchenko Market."