SingularityNET

SingularityNET is a company that has developed a decentralized marketplace that acts as an aggregate for artificial intelligence algorithms. It has the stated mission of creating a decentralized, democratized, inclusive, and beneficial artificial general intelligence.

The company was founded in 2017 by Ben Goertzel, Cassio Pennachin, and Simone Giacomelli, in Amsterdam, Noord-Holland, The Netherlands.

SingularityNET introduction video

The company has created a platform on the blockchain that allows artificial intelligence creators to coordinate and collaborate. It can be leveraged by companies, developers, and organizations to monetize their algorithms, which can be bought and sold in quantity. The core platform is a marketplace that uses the native token of SingularityNET, AGIX.

AI services for purchase from developers can be found on SingularityNET's marketplace. Services can be tested by potential purchasers by using a number of API calls to assess the service before purchasing it. Users can pay for additional usage of the service by paying with AGIX or a fiat currency with the platform's Paypal integration.

SingularityNET developed a native token to be used on the platform and within its ecosystem. The token, known as AGIX, was launched during its initial coin offering (ICO) on December 19, 2017. It is reported that the ICO raised $36 million in funding in approximately 60 seconds. The value of the token saw a spike in 2023 with the increased interest in AI-based platforms, like SingularityNET.

Holders of AGIX can use it to pay for AI services in the marketplace and utilize other projects within the SingularityNET ecosystem. The token can also be staked in SingularityNET's Ethereum-based staking portal for thirty-day sessions, after which users can continue to stake or withdraw the tokens along with any reward they amassed within the previous thirty days. The company has also developed and launched SingularityNET Bridge, which allows users to transfer tokens across the supported blockchain.

The decentralized autonomous organization (DAO) of the organization is called SingularityDAO. It funnels projects and users into DynaSets, which are sets of tokens that are governed by the Dynamic Asset Manager, a tool for managing assets. Other features of the DAO include the following:

• a launchpad
• vaults
• a decentralized exchange (DEX)
• the DAO itself for governing purposes

SingularityNET is also bootstrapping several projects to create an ecosystem of AI-related organizations and endeavors that operate using the AGIX token. The projects can be classified in diverse verticals, including decentralized finance (DeFi), robotics, biotechnology, gaming, entertainment, and enterprise-level AI. When projects are accepted into the SingularityNET ecosystem, they get the support of an incubator with guidance and capital provided to develop and advance the projects.