SingularityNET sold its AGI tokens and raised $36mln in a minute. Of course, this is an incredible feat, that is, until you consider the demand. According to the company, the issue was oversubscribed so that buyers wanted a total of $361 mln in tokens.
The company says they reduced the number to a level they could manage:
“We used algorithms to screen all the applicants who complied with the global AML regulations. This reduced the pool to about 5 000. It also set new standards for fundraising with respect to legislation.”
The company aims at creating an AI-based decentralized marketplace where customers can interact and transact business.
“If you need the full document, you can sign up as a user and put in a request on our site,” they said.
Machine learning and AI are hot trends now more than ever but they are only controlled by large companies like Google who develop their systems and keep them to themselves.
SingularityNET hopes to decentralize the field allowing AI developers to monetize and non-corporate users to benefit.
This has never been tried before and it may be impossible. One thing though is certain, there is a lot of interest in decentralizing AI. Their token sale could not make it any clearer.