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
4. Cost
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
4. Cost
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.
Everything You Need to Know about LunaDNA
Now that you’ve read our LunaDNA review, you know it’s a unique DNA data platform that allows users to upload their raw DNA data and become a shareholder in the company. Unlike other DNA analysis companies, LunaDNA doesn't provide personal health reports or ancestry information. Instead, they sell 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.
The first benefit of using LunaDNA is that users get paid for their DNA information, whereas other platforms can sell their information for free. The other benefit is that the submitted data is used for medical research to find treatments and cures for diseases.
LunaDNA company operates as a secondary Public Benefit Corporation, LunaPBC, and has been approved by the SEC to provide its services. LunaDNA is completely free and offers its users a chance to increase their shares by providing health information and participating in various studies. The profits made by LunaDNA are paid out as dividends to users, who are actual owners of the company, and their aim is to increase the value of the user’s submitted genome as the company grows.
Luna genetics is a Public Benefit Corporation that connects people with shared conditions and interests with researchers to drive new breakthroughs in the medical field. With Luna, you can feel confident that your data will be treated ethically, as the platform is overseen by SEC and IRB regulators. Luna also prioritizes privacy, as it is built to comply with worldwide privacy regulations. You will have complete control over your personal information, including the ability to delete your data or revoke your consent.
According to LunaDNA, the company prioritizes transparency, privacy, control, security, and value for its members, and holds its partners to the same high standards.
As you can see, LunaDNA is truly a one-of-a-kind company, founded by President Dawn Barry, CEO Bob Kain and CFO David Lewis, with the goal of giving DNA ownership back to the people who supply it. The company operates as a Public Benefit Corporation (LunaPBC) to facilitate the transfer of funds between researchers and shareholders. LunaDNA is approved by the SEC and offers dividends in U.S. dollars, unlike other blockchain-based DNA database companies that pay in cryptocurrency.
LunaDNA operates as any other genetic DNA testing service, where you upload your DNA data file from 23andMe or other companies to the LunaDNA platform, making you a shareholder with a stock of LunaDNA. LunaPBC manages and sells the anonymous genetic data to researchers and pharmaceutical companies for medical research, and when the LunaDNA data platform makes money, you as a shareholder also benefit directly.
LunaDNA offers various ways to increase your stock value, such as submitting medical records, tracking biomarkers with wearable devices, filling out health surveys, and joining specific studies with LunaDNA partners.
LunaDNA cannot tell you about your personal health or genomic data, but you can use other sites - including Genomelink - to get information related to health, ancestry, and traits. If you're interested in learning more about free DNA upload sites, check out our article "The Best DNA Upload Sites".
To find out more about free DNA upload sites, check out our article "The Best DNA Upload Sites"
