Despite theoretical and experimental efforts to model neuronal networks, the origin of cerebral cognitive functions and memory formation are still unknown. Recently, we have proposed that in addition to chemical and electrical signals, the cellular components of the neocortex (especially neurons and astrocytes) may communicate with each other through magnetic signals generated by themselves. This magnetic communication would be the ground of short-term memory. In the present paper, we propose that brain magnetite may be a component of the mechanisms, conserved during evolution, to detect and transduce magnetic fields generated inside the cerebral neocortex. Specifically, we propose a possible role for magnetite nanoparticles, distributed through neuronal and astroglial membranes, in perception, transduction and storage of information that arrives to the neocortex.