SingularityNET Receives $25 Million Commitment From LDA Capital

SingularityNET Receives $25 Million Commitment From LDA Capital

In Brief

  • SingularityNET and SingularityDAO have received $25 million to drive AI adoption in DeFi.

  • Global investment group LDA Capital committed the funds and will provide strategic support.

  • SingularityNet is a decentralized protocol-backed suite that allows AIs to coordinate in a scalable, interoperable way.

SingularityNET and SingularityDAO have secured a $25 million commitment from global investment group LDA Capital Limited to accelerate their product roadmap, the adoption of AI tools for DeFi, and scaling the ecosystem.

LDA Capital are excited by the advancements in both AI and DeFi shown by the SNET ecosystem, and along with the commitment, LDA will be providing strategic advice and support to allow SingularityNET and SingularityDAO to continue to grow their position as industry leaders, - Anthony Romano, Managing Partner, LDA Capital Ltd.

SingularityNET describes itself as the "Home of Benevolent AI & AGI". They offer a range of services including an AI marketplace that enables participants to: publish and monetise AI services on the "world's largest open decentralised AI marketplace".

Anyone can browse the marketplace and services can be paid for using native AGIX tokens. We tried a few services and used an AI text generation model to write the following:

The investment in SingularityNET by LDA Capital will enable the organisation to accelerate its efforts to bring AI into the financial sector, and support the growth of the ecosystem by expanding its technology suite, supporting the growth of decentralized AI in general and its use in decentralized finance.

Pretty neat right?

They enter an increasingly competitive space, but with a unique decentralized angle. In the coming years, the worldwide artificial intelligence (AI) software market is expected to boom. By 2025, it is estimated to be worth roughly 126 billion dollars, while the DeFi market is presently over 174 billion dollars and showing no signs of slowing down.

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