The Founders District in West Houston has an NFT investment opportunity. Rendering via foundersdistrict.com

Developers are turning to blockchain technology to help finance a new indoor-outdoor bar at Houston’s Founders District innovation campus.

Under the umbrella of the Powder Keg Collective, the Powder Keg bar is selling non-fungible tokens (NFTs) to finance construction and operation of its 14,000-square-foot expansion. NFTs, similar to cryptocurrencies, are stored on a blockchain and represent ownership of a unique asset.

The new venue will be at 1300 Brittmoore Rd., near the existing Powder Keg bar and The Cannon West Houston entrepreneurial hub. Aside from catering to everyday patrons, the venue will host community events, festivals, private events, and concerts.

Buyers of the Powder Keg NFTs will be entitled to gain proceeds from the development, and will receive beer discounts, access to VIP events, and other privileges.

“These utility NFTs provide owners with tangible financial value and membership in a real estate club, not empty hype,” Mark Toon, co-owner of the Powder Keg, The Cannon and the Founders District, says in a news release.

“The Powder Keg Collective is another way we’re building community around technology, demystifying it, and bringing together Houstonians — whether they’re investors, NFT collectors, crypto-enthusiasts, or people who just want a stake in their neighborhood bar.”

On the Ethereum blockchain platform, the collective will sell 2,361 tokens ranging in price from $250 to $500,000 each. Tokens can be purchased with cryptocurrencies or U.S. dollars. The venue itself will accept the same two payment methods.

The Powder Keg is planning an expansion. Photo courtesy

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Axiom Space-tested cancer drug advances to clinical trials

mission critical

A cancer-fighting drug tested aboard several Axiom Space missions is moving forward to clinical trials.

Rebecsinib, which targets a cancer cloning and immune evasion gene, ADAR1, has received FDA approval to enter clinical trials under active Investigational New Drug (IND) status, according to a news release. The drug was tested aboard Axiom Mission 2 (Ax-2) and Axiom Mission 3 (Ax-3). It was developed by Aspera Biomedicine, led by Dr. Catriona Jamieson, director of the UC San Diego Sanford Stem Cell Institute (SSCI).

The San Diego-based Aspera team and Houston-based Axiom partnered to allow Rebecsinib to be tested in microgravity. Tumors have been shown to grow more rapidly in microgravity and even mimic how aggressive cancers can develop in patients.

“In terms of tumor growth, we see a doubling in growth of these little mini-tumors in just 10 days,” Jamieson explained in the release.

Rebecsinib took part in the patient-derived tumor organoid testing aboard the International Space Station. Similar testing is planned to continue on Axiom Station, the company's commercial space station that's currently under development.

Additionally, the drug will be tested aboard Ax-4 under its active IND status, which was targeted to launch June 25.

“We anticipate that this monumental mission will inform the expanded development of the first ADAR1 inhibitory cancer stem cell targeting drug for a broad array of cancers," Jamieson added.

According to Axiom, the milestone represents the potential for commercial space collaborations.

“We’re proud to work with Aspera Biomedicines and the UC San Diego Sanford Stem Cell Institute, as together we have achieved a historic milestone, and we’re even more excited for what’s to come,” Tejpaul Bhatia, the new CEO of Axiom Space, said in the release. “This is how we crack the code of the space economy – uniting public and private partners to turn microgravity into a launchpad for breakthroughs.”

Chevron enters the lithium market with major Texas land acquisition

to market

Chevron U.S.A., a subsidiary of Houston-based energy company Chevron, has taken its first big step toward establishing a commercial-scale lithium business.

Chevron acquired leaseholds totaling about 125,000 acres in Northeast Texas and southwest Arkansas from TerraVolta Resources and East Texas Natural Resources. The acreage contains a high amount of lithium, which Chevron plans to extract from brines produced from the subsurface.

Lithium-ion batteries are used in an array of technologies, such as smartwatches, e-bikes, pacemakers, and batteries for electric vehicles, according to Chevron. The International Energy Agency estimates lithium demand could grow more than 400 percent by 2040.

“This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,” Jeff Gustavson, president of Chevron New Energies, said in a news release. “Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also to meeting the growing demand from customers.”

Rania Yacoub, corporate business development manager at Chevron New Energies, said that amid heightening demand, lithium is “one of the world’s most sought-after natural resources.”

“Chevron is looking to help meet that demand and drive U.S. energy competitiveness by sourcing lithium domestically,” Yacoub said.

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This article originally appeared on EnergyCapital.