SingularityNET (AGI) ICO Analysis: Open Source Protocol for AI Services
Executive Summary
Project Description
SingularityNET is an open source protocol that lets you acquire and monetize Artificial Intelligence services and machine learning tools. By creating an open infrastructure that all parties involved can benefit from, SingularityNET aims to accelerate the growth and development of the AI sector. On the SingularityNET platform, you can offer any AI-related software/hardware service in exchange for another service, or get paid in AGI, SingularityNET’s token.
The exchange of these services is even more eye-catching when you consider the fact that AI agents (nodes running on the network and fulfilling AI tasks in interaction with other agents) are heavily dependent on each other, and when these agents combine, they can form a big group of decentralized datasets. These datasets have great functionality, and they can be bought by companies that want to use them for their product’s activities.
As a result, SingularityNET is not only a marketplace for selling or buying AI tools, but also a platform for forming profitable partnerships and mutually beneficial exchange of tools. The more functional the AI agent, the more beneficial it will be to the whole ecosystem, and the higher its reward in AGI. Subsequently, agents that aren’t doing so well will have their stakes reduced.
Every agent will have a staking reputation and a rating reputation. You can increase the staking reputation of your agents by buying more AGIs for them, however, the rating reputation is dependent on external factors like comparison to other agents and timelines. To take part in some activities on SingularityNET’s platform, you need a good rating, for example, to partake in the decentralized government system, you need a high staking reputation, as well as a high rating reputation.
Hard Cap and Valuation
SingularityNET plans to raise $36 million and there will be 1 billion AGIs in total. 50% of these are up for sale, 18% is earmarked for the founders, 8% goes to SingularityNET’s foundation, 20% goes into a reward pool, and the final 4% is allocated for campaign supporters (like bounties).
The founder (18%) and the reward pool (20%) tokens will be on a vesting schedule. As a result, the available token is reduced to 62% of the total.
Important Dates
As at the time of this publication, the dates for the sale are unknown.
Marketing Power
As at the time this post was published, SingularityNET has over 4300 Telegram users along with over 1500 followers on their Twitter account. In addition to these, they also have 1000+ Facebook subscribers and over 950 followers on Medium.
Prominent Advisors
Sergei Sergienko
- CEO of Chronobank.
Trent McConaghy
- Founder of IPDB Blockchain database protocol & network.
Jim Ritt
- Former CTO of Thomson-Reuters.
- Board Member of the Santa Fe Institute.
Well-Known Team Members
- Ben Goertzel is notably experienced and well-known in the target market.
Howey’s Test
According to the Howey’s Test conducted by our analysts, it is unlikely that the token will be considered a security.
Team Members’ Areas of Expertise
Business experts
Ben Goertzel: CEO, chief scientist and project lead
- CEO at Novamente for 10 years.
- CEO at Biomind LLC for 9 years.
David Hanson: Chairman and robotics lead
- Owner of Hanson Robotics.
- Founder of Initiative for Awakening Machines.
- Founder, and CEO of Human Emulation Robotics for 2 years.
Cassio Pennachin: CTO
- Founder, and CEO of Vetta Technologies for almost 4 years, and of Vetta Labs for 5 years.
- Founder, and Partner at Igenesis for over 7 years.
Eddie Monroe: R&D scientist
- Founder, and President of Green Fields Technology (software development consulting firm) for 6 years.
Anton Kolonin: Software Development
- Project Owner of Aigents for over 3 years.
Target market experts
Ben Goertzel
- Chairman at OpenCog for 9 years (ongoing).
- Chairman at Artificial General Intelligence Society for 7 years (ongoing).
- Chief Scientist at Mozi Health (intelligent medicine with AI) for a year (ongoing).
- Chief Scientist at Hanson Robotics for 2 years.
- Vice Chairman at Humanity+ for 6 years (ongoing).
- Chief Science Officer at Aidiya for 5 years.
David Hanson
- In addition to the information provided above, Hanson is also a sculptor/robotics research and design consultant for 3 years.
Cassio Pennachin
Eddie Monroe
- R&D at Novamente for nearly 11 years.
Linas Vepstas: AI Researcher
- Research Scientist at Hanson Robotics for over 3 years.
- Research Scientist at OpenCog for 10 years.
- Research Engineer at Aidyia for almost 1 year.
Marketing experts
Mitchell Loureiro: Marketing Lead
- Vice President of Marketing at Steemit for 1 year (ongoing).
- Marketing Lead at Santiment for the token sale.
- Token Sale Lead at Decentraland for the token sale
- Marketing Specialist for the NXT Foundation and launch of Ardor.
Legal
There is no legal expert on their team, but they are in consultation with some law firms.
Software engineering experts
Cassio Pennachin: CTO
- See target market above.
Eddie Monroe
- Software Developer at HealthCommunities for 3 years.
Anton Kolonin
- CTO at zdorovieonline.ru for over 2 years.
- Manager, software development at Quest for over 2 years.
- Software Developer at Academsoft for almost 4 years.
- Lead Software Engineer at IT solutions for over a year.
- Lead Software Engineer at EPAM for over 5 years.
- Senior Software Engineer at ProPro Group for over a year.
- Lead Software Engineer at CTC Company for over 4 years.
- Software Engineer at BEZ Systems for nearly a year.
Blockchain Development
A founding organization of SingularityNET is Vulpem Ventures, which has experience building custom blockchains since 2014. They have also worked directly on Bitcoin Core code.
Token Sale Structure
In addition to having Advisors that are experienced in token sale, SingularityNET is also working together with Vulpem Ventures who are experienced in token sale structure.
Token Economics
Same as above.
Disclaimers:
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
The analysis was produced by Research Center team members: Robin Davids, Mark Jedd, Eugene Tartakovsky.
We are constantly working on improving our work, so we welcome all constructive feedback. Let us know what you think.
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