$0.6141

SingularityNET is a blockchain-based platform that enables users to easily create, distribute, and monetize AI services through a global marketplace. On this marketplace, users can explore, test, and purchase a wide range of AI offerings using the platform's native token, AGIX. It also provides AI developers with an outlet to publish and sell their tools while tracking performance. The platform is focusing on integrating Knowledge Graphs and Neural Symbolic tools for large language models to address their limitations, aiming to position itself as a knowledge layer for the internet and support the next generation of AI systems.

SingularityNET was founded by Dr. Ben Goertzel, who serves as CEO and chief scientist, along with Simone Giacomelli and Dr. David Hanson. Dr. Goertzel is well-known in AI and robotics, having worked with companies like Hanson Robotics and the OpenCog Foundation, and he also holds roles at Mozi Health and Humanity+. Giacomelli, an entrepreneur and investor, previously worked at Cryptodex and left the project in 2019 to focus on his tech R&D lab, Vulpem. Dr. Hanson, with a background in robotics, worked at Disney and later founded several robotics startups, including Hanson Robotics.

SingularityNET stands out as the first platform that allows developers to easily sell AI tools and enables buyers to test services before paying. It also offers a Request for AI (RFAI) portal where customers can commission new AI tools, and developers earn AGIX tokens by fulfilling these requests. The AGIX token's utility has expanded, with a staking feature added in March 2020 and a voting mechanism for network changes introduced in October 2020. Additionally, a joint venture with Hanson Robotics called Awakening Health focuses on AI healthcare products, with its first product being Grace, a humanoid assistant.

As of February 2021, approximately 861.5 million AGIX tokens were in circulation, representing 86% of the total supply, indicating that the token is largely diluted. The initial coin offering in 2017 sold 50% of the total supply. The remaining allocation was distributed as follows: 20% for early developer and partner incentives, 18% for the core team (fully vested), 8% for the SingularityNET foundation to support long-term development, and 4% reserved for security bounties.

AGIX is an ERC-20 token, which means it relies on Ethereum's proof-of-stake consensus mechanism and its network of validators. Ethereum has a strong security record with no successful attacks to date, making it one of the most secure networks. The SingularityNET team has indicated potential future migration to another blockchain and has been exploring the possibility of launching on Cardano's delegated proof-of-stake system.

AGIX can be traded on several major exchanges, including Binance, KuCoin, and HitBTC, as well as decentralized exchanges like Uniswap and Balancer. The available trading pairs are currently limited to AGIX/BTC, AGIX/ETH, and AGIX/WETH. It is not possible to purchase AGIX directly with a credit or debit card on these platforms, but you can buy Bitcoin first and then exchange it for AGIX.