5 Things You Should Know Before Using LunaDNA
LunaDNA serves a different purpose compared to most of the companies you upload your raw DNA data to. Instead of providing you a report on nutrition, health data, or ancestry from your raw data, the company simply adds your data to their database. However, when you upload your genetic information, you become a shareholder in the company and are entitled to earn dividends from your ‘investment’. Wish to more about LunaDNA and its reviews? Keep reading this article!
1. About the Company
2. How it Works (ie. How to Earn Money)
3. Extra Ways to Earn
5. Other Places to Use Raw DNA Data
1. About The Company
LunaDNA was created by current President Dawn Barry and CEO Bob Kain with the idea that genomic databases should not profit only their creators. A third co-founder, David Lewis, operates as the CFO, who helped craft a novel system. With the goal of transferring ownership of DNA back to the people who supplied it, LunaDNA became a one-of-a-kind company that offers those willing to share their DNA with researchers a chance at a dividend-paying share of the company. The company operates with a secondary Public Benefit Corporation, or LunaPBC, to facilitate the transfer of funds between researchers and shareholders.
The company has been approved by the U.S. Securities and Exchange Commission (SEC) to provide this service. Unlike blockchain-based DNA database companies that pay you in cryptocurrency tokens, your dividend from LunaDNA will be in U.S. dollars. Based in San Diego, the company is backed by several powerful venture capital funds, such as the Illumina Ventures fund, created by the DNA sequencing giant Illumina.
2. How It Works (Ie. How To Earn Money)
LunaDNA is as easy to use as any other Genetic DNA testing service. Simply, upload your DNA data file from 23andMe or other companies’ DNA testing kits to the LunaDNA platform. When you do, you will be directed to make an account & will simultaneously get a stock of LunaDNA, LLC. Although you do not get a free health analysis report of your raw DNA Data, the company pays a dividend based on its profits.
LunaPBC manages and sells the anonymous genetic data of its shareholders to researchers and pharmaceutical companies for medical research, in exchange for money or a portion of their future proceeds. When the LunaDNA data platform makes money through the sales of your data for research, you as a shareholder make money as well. In essence, you benefit directly from your DNA data. This is pretty cool, considering that most DNA analysis companies take and sell your DNA information for free.
3. Extra Ways To Earn
In order to help research efforts, LunaDNA offers a variety of ways to increase your stock value. You can increase your shares in the company by providing a plethora of health information, like submitting medical records. The company is even working on ways to measure certain biomarkers with wearable devices. Essentially, you could submit data from a smartwatch to help researchers make medical discoveries while at the same time earning a dividend from your stocks in LunaDNA.
Here are a few ways LunaDNA is planning to allow users to increase their shares of ownership:
- Submit health records
- Track your biomarkers with wearable devices
- Fill out health surveys
- Join a specific study with a LunaDNA partner
LunaDNA is completely free. Better yet, it will pay you. The entire premise behind LunaDNA is that genetic information should be owned by the people who submitted it, not the companies who collect it. As such, a portion of the profits made by LunaDNA is paid out as a dividend to users, who are actually part owners of the company. While this arrangement may seem strange, it is certified by the SEC and is actually a great way to contribute to the greater good while profiting from your own genetic code.
5. Other Places To Use Raw DNA Data
While LunaDNA is a really cool way to keep the value of your DNA in your own hands, it cannot tell you about your personal health, nutrition, or other genomic data. If you are more interested in learning how your DNA affects you, you may want to look at some of the following sites. Many of them offer a free DNA analysis for information related to health, ancestry, and other traits.
To find out more about free DNA upload sites, check out our article "The Best DNA Upload Sites"