Announcing the SingularityNET Token Sale

Last week, we detailed the key functionality of our ERC20 token: AGI. The AGI token is structured not only to make network transactions and AI curation possible, but also to provide decentralized governance and control. We believe that putting the community in charge of the system will ensure the platform benefits all users .
We’ve already collaborated with more than 100 AI organizations and developers to streamline their access and participation in the network. To make sure SingularityNET works on behalf of everyone, we’ll be holding a token sale in the second half of December.
Our token sale provides the opportunity for anyone to utilize SingularityNET, an AI-to-AI platform positioned at the center of a $3.1 trillion AI industry.

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Token Sale Details

  • Targeted​ ​sale​ ​date:​ ​Second half of December
  • Total​ ​possible​ ​tokens:​ ​1,000,000,000​ ​AGI
  • Total​ ​tokens​ ​distributed​ ​to​ ​public:​ ​500,000,000​ ​AGI
  • Hard cap: $36 million USD (ETH cap will be determined the day of the sale)

The AGI Token

SingularityNET aims to become the key protocol for networking AI and machine learning tools to form a coordinated Artificial General Intelligence.
Blockchain technology provides an ideal tool for managing network transactions on SingularityNET due to its transactional and bookkeeping advantages. But a blockchain-based framework needs to be designed to allow AI Agents to interact with each other and external customers.
We tailored the AGI token for this purpose. It enables interoperability (the network will be able to interface with multiple blockchains and network infrastructures), modularity (flexible network capabilities make it possible to create custom topologies), scalability (resilient applications can be built with near zero transaction costs) and data sovereignty (access is validated through smart contracts and the blockchain).

For more info, please read our post covering the functionality of the AGI token.

Use of Funds

The funds acquired in the token sale event will be distributed to ensure the long-term viability of the network. The allocation will be broadly split between Network Infrastructure (the protocol), IOT (sensors and hardware), AI (research and integration), and Business Development .
Our veteran team of more than 50 AI, IT, and blockchain developers has already begun development of SingularityNET, with over 500 files in our GitHub repository. An Alpha version of the platform is slated for December 2017.

To learn more, read our posts detailing our core team and development updates.

Guaranteed Token Distribution

  • The token sale will distribute 50 percent of the initial supply to the public
  • 20 percent will be reserved to incentivize early users, developers, and partners who want to participate with SingularityNET
  • 18 percent will be held for core team members and early contributors. All of these tokens are subject to a two-year vesting schedule
  • 8 percent will be held by the SingularityNET Foundation to ensure continual development of the platform
  • The remaining 4 percent will be reserved for bounty programs that improve the effectiveness and security of the network

First Round of Platform Partners Established

With one of the most experienced teams in crypto, SingularityNET has attracted partnerships with other blockchain and AI projects, such as Hanson Robotics , Economic Space Agency , Humanity+ , d10e , AGI Society , Moonshot, and more.
We’ll be announcing additional partnerships over the coming days. For all partnerships the SingularityNET platform will be a critical tool for growing their AI capabilities.
We’ve also collaborated with more than 100 industry experts across various technical and operational fields, many of whom contributed to the core infrastructure that SingularityNET will run on.
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 .

Next Steps

We’ll be releasing more information about the project and sale over the coming days. Learn more about the AGI token by reading the SingularityNET whitepaper .

Join the Community

Join our Telegram channel to chat with the team and our growing community.

This content was originally published here.

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