SingularityNET Announces $36mln ICO Funding For AI Platform Expansion

November 28, 2017 6:15 pm Published by

SingularityNet, the pioneering Blockchain Artificial Intelligence (AI) marketplace announced Tuesday it will launch a $36 million Initial Coin Offering (ICO) to fund its expansion, Cointelegraph reported.

A company news release said the fairly modest funding goal for the world’s first AI marketplace will involve a 500-million-token event at its recent Web Summit in Lisbon, Portugal.

A combination of private and public sales will distribute the tokens, Cointelegraph reported, with the ICO concluding when all are sold or when the $36 million figure has been reached.

Those participants are required to register on a whitelist prior to the sale beginning Dec. 8, the report said.

“The exact amount of tokens available in the crowdsale depends on private sales, which have not yet been finalized,” an accompanying new release said.

SingularityNET has sparked considerable interest in its bid to open up the already corporatized nature of AI development and services, the report said.

Investors in the project already include famous names from both inside and outside Blockchain, and the network itself is already used by more than 50 companies including Cisco and Huawei, according to the company.

“…It’s hard to know what direction the evolution of AI is going to go. I think in the long term, which may just mean a few decades from now, AIs will have a much greater intelligence than human beings,” CEO Ben Goertzel told Cointelegraph in an interview last month., Jack Durschlag

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