Singularity TGE Sells Out In 66 secs

in singularitynet •  2 years ago 

I thought some might find this interesting. Email from Singularitynet. Accredited Investor requirements are going to keep a lot of US citizens from participating in events like this.

"This week, our 20,000+ community joined us in making SingularityNET a reality. Here’s a quick recap of the events.

Whitelist Demand: $360+ million

Total Funds Raised: $36 million (in ETH)

Total Participants: 4000+ participants

Speed of Sale: 66 seconds

Security Audit Completion Date: Early January

On December 21st, we launched a limited version of our TGE, with individual caps of 5 ETH. We refused to exclude our community from the power of our platform. During this initial Community Appreciation Period (which lasted 24 hours), we were able to distribute AGI tokens to thousands of compliant community members.

On December 22nd, we lifted the individual cap as planned, and the remaining AGI tokens were sold in 66 seconds. The overwhelming demand reaffirmed our approach in designing the initial Community Appreciation Period, where thousands of our community members were able to participate despite the cumulative whitelist demand of $360+ million (our hard cap remained at just $36 million).

Next steps
After the sale completed, we began cybersecurity audits to review the results. Our team is thoroughly completing the audit as quickly as possible. This process will be completed early January, 2018.

Upcoming partnership announcements
The SingularityNET platform is being built on OpenCog technology, currently in use by more than 50 global companies with over $250 billion in combined revenues, including Cisco Systems and Huawei Technologies.

With one of the most experienced teams in crypto, SingularityNET has attracted continuous partnerships with other blockchain and AI projects, such as Hanson Robotics, Humanity+, AGI Society, Moonshot, and more.

We have been in discussions with hundreds of developers, governments, businesses, and research institutions regarding how we can accelerate their AI capabilities. We will be announcing these partnership over the following weeks and months.

Community collaboration
Our community has shown an overwhelming amount of support since the project began. With the completion of our TGE, thousands in our community can now can participate in the growth of SingularityNET.

We’ve already connected with dozens of AI developers and consumers that were introduced by our members of our community, and we’re looking forward to accelerating those relationships in the coming months.

And due to the unique functionality of the AGI token, our token-holders will be able to participate to the platform. Our 40+ strong team will be working closely with our community to address their long-term needs.

Use of TGE Funds

We used our influence to positively promote the blockchain industry
We got in touch directly with some of the most important regulators worldwide to disclose the project in advance, discuss our technology, and follow their suggestions. We’re one of the first projects to do this with full transparency.

We found regulators careful and well-informed, open to avoiding excessive measures that could curtail the future of these new technologies. What reservations they have are valid, and reflect genuine problems in the current token economy. We would like to thank them for their responsiveness and for their time.

Our work in this area has the potential to positively impact endeavors far beyond SingularityNET. We want to thank our impressive legal team for all of their help and guidance throughout this process. We’re excited to share these important developments with you early next year.

More news is on the way
The TGE has completed, but the growth of SingularityNET has just begun. We’ve worked tirelessly this year to position SingularityNET at the center of AI’s potential. We’re excited to share our latest partnerships, roadmap, market opportunities over the following weeks and months.

Thank you for being a part of our 20,000+ community.

— The SingularityNET Team"

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Thank you @volterra!

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