SingularityNet’s public token generation event (TGE) sold out immediately as it took just 66 seconds for the decentralized AI marketplace to complete the sale in December. The highly anticipated token ICO is in the midst of a compliance audit, which it expects to be completed this month.
As with most popular ICOs, SingularityNet cautioned individuals to be leery of scams as the TGE was completed.
The news of the successful ICO was followed by the announcement that SingularityNet had inked a new partnership with NR Capital.
SingularityNet is collaborating with the Singapore based Fintech firm to develop new AI-driven solutions for the commodity finance seeking to drive and automate global trade. The MOU was signed in December indicating that SingularityNet, NR Capital, and Six Kin Development, will pursue multiple projects including the “digitization of supply chain and application of Artificial Intelligence to fully automate and improve efficiency for the commodity trade finance business.” The trio will also explore how to leverage SingularityNET’s AI marketplace to reach previously unreachable consumers around the world.
Powered by the AGI or “Artificial General Intelligence” token, SingularityNET lets companies, organizations, and developers to buy and sell AI, in hopes that it will lower costs and increasing output.
The company’s “AI-as-a-service” also aims to become the key open-source protocol for networking AI on the internet. While sharing more details about the funding round, SingularityNet also reported:
SingularityNet estimates the global AI market will top $3.1 trillion by 2025. The platform wants to be the place the entire world visits to access the AI market.
Tom James, CEO at NR Capital, commented;
“We are very excited to work with SingularityNET and Six Kin Development, world leaders in AI and Machine Learning technologies. We all share a common vision in the application of AI to improve the efficiency of real world economy processes. This collaboration will greatly assist us in our goal to revolutionize and disrupt the existing way that bulk physical commodity shipments are managed.”
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