What is SingularityNET
SingularityNet is a marketplace for AI creators. They can list their algorithms/software and then businesses can pick and choose their requirements. A key feature is that the projects may have been unrelated when created but can be combined in creating a solution.
The Problem SingularityNET solves.
Most AI research today is controlled by a handful of corporations—those with the resources to fund development. This has led to AI development being fragmented.
- Most AI solutions are developed by one company and perform one extremely narrow task, and there is no straightforward, standard way to plug two tools together.
- Many of the state-of-the-art AI tools currently only exist in GitHub-type repositories created by graduate students or independent researchers.
- The latest algorithms for image and video analysis, machine translation, automated theorem proving, bioinformatics data analysis, etc do not get sufficient exposure to real-world data to improve.
In each of these scenarios, these independent developers have no readily available way to showcase or monetize their creations.
SingularityNET is a launchpad where developers can quickly get their AI models and algorithms into real-world applications whilst also being suitably compensated.
The SingularityNET Solution
SingularityNET provides an automated process that enables any business to connect existing AI tools to build the solution it needs.
- It enables developers and academics by providing an easily accessible marketplace in order to monetize their clever AI code.
- It creates a format that aims to allow different AI solutions to be combined with relative ease.
- For example, if a text-to-speech AI and an Italian-to-English translation AI were both on the network, then the network as a whole would be capable of using Italian text to produce English speech.
- AI tools require large and accurate datasets, and the marketplace makes them accessible to end users and developers.
The tools provided by SingularityNET include:
- AI Marketplace; listing and monetizing of AI projects
- AI Publisher; service to package AI projects to allow them to be sold and help with interoperability with other listed AI projects
Competition for SingularityNET
Other AI projects:
- Ocean Protocol; A marketplace for data required by AI companies.
- Numerai; a decentralized hedge fund that uses AI to analyze financial data
The main method for earning is for AI creators to package and then list their AI projects on the marketplace. The marketplace operates using the AGIX token but it is possible for users to buy in Fiat and the exchange is done automatically.
There are different ways in which the projects might be sold (one-time use, ongoing access, as a service, etc) and in each case, a payment schedule is established through decentralized smart contracts.
Within the SingularityNET Ecosystem, the staking provides liquidity for a crypto-fiat gateway. Its purpose is to allow users the option to interact with AI providers using entirely fiat currency rather than AGIX tokens.
Staking is done in-house via their own portal: https://staking.singularitynet.io/howitworks and is based on a 30-day schedule.
Adjunct Research Professor
Chief Science Officer
Sculptor/ Robotics research and design consultant
Head of Strategic Projects and Performance
TSB; AI, MI, Automation and process optimization for the SME bank at TSB
Partner & Managing Director
Aritificial Intelligence Technology Officer
Artificial Intelligence consultant
Director of Research and Development
Investors / Partners
- Hanson Robotics; A Robotics company known for its human-like robots with A.I
- Ocean; a decentralized data exchange protocol that unlocks data for AI.
- SWAE; An A.I powered crowdsourcing & idea management platform.
- TODA; A communication layer protocol to build applications and platforms.
- EPIK PROTOCOL; AI-first blockchain that aims at an open and collaborative AI data network.
- CISCO; Cisco help companies transform how people connect, communicate & collaborate.
- MLABS; A Haskell, Rust, Blockchain and AI consultancy.
- Inkling Origins; GameFi User Generated Content Game
- Mandala; Building an Enlightenment Simulator
- LDA Capital; SingularityNET and SingularityDAO secured a $25 million commitment with Global investment group LDA Capital Limited, to accelerate the growth of decentralized Defi AI.
- COTI; Cogito offers a framework for creating tracercoins, which are new classes of digital assets including a non-fiat pegged stablecoin.
- Genescient; Partnership to apply Advanced Machine Learning to transfer insights gained from the Methuselah fly genome to the human genome.
- Binance Connect; Brings Defi Fiat-to-Crypto Bridge on SingularityNET platform and NFT checkouts.
- TradeFlow Capital Management; transforms risk, enabling trade.
- Museverse; Building tools for musicians that will allow playing, performing and jamming in virtual reality/metaverse with a rewarding system.
- Hedge; RegTech solution provider, and are working on FinCrime, AML KYC & Regulatory requirements.
- VIA MOzn AI; harnesses the capability of AI and Machine Learning in AML and network analysis, and bringing global enterprise tools to fighting financial crimes.
- Smart Places; the power of decentralized Artificial Intelligence (AI) to the next generation of social media.
- SGInnovate; invests, and help entrepreneurial scientists find their path to success.
References / FAQ’s
What is SingularityNET Token?
The AGIX Token is used within the decentralized SingularityNET ecosystem for transactions and community governance.
Where can I buy SingularityNET tokens?
The SingularityNET Token can be purchased at numerous exchanges including; Binance, Gate.io, BingX, BitMart, KuCoin, BitGet and Bybit.
What is SingularityNET used for?
SingularityNET is a decentralized marketplace for AI; it allows creators to share and monetize their algorithms/software etc