SingularityNET sold out of its native Artificial General Intelligence (AGI) tokens and raised $36 Million in less than 60 seconds.
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“SingularityNET is the first and only platform that allows AIs to cooperate and coordinate at scale. No longer must AIs exist in silos, only capable of operating within a specific company, infrastructure, or industry. The future of AI is here. We hope you’ll join us.”
The company has stated that over 20,000 people registered to participate but the company had to reduce this number of contributers to just 5,000.
“[Screening] all applicants using layers of algorithms, in addition to manual review, to comply with global KYC/AML regulations. This reduced the pool of contributors to 5,000, but also set a new standard for fundraising via Blockchain with respect to global legislation,” SingularityNET said in a press release.
In the current economic and technological context, every business needs AI, but off-the-shelf AIs will rarely match a business’s needs.
Only tech giants can hire armies of developers to build custom AIs, and even they have a hard time hiring enough AI experts to meet demand.
Many state of the art AI tools exist only in GitHub repositories created by grad students or independent researchers.
This puts them out of the reach of anyone without the skills to install, configure, and run them.
Most AI developers are academics, not business people, and have no easily-accessible marketplace to monetize their clever AI code.