Key Highlights:
- SingularityNET’s token AGIX has recorded a 1,400% rally in total so far;
- SingularityNET plans to revolutionize and democratize the AI space;
- AGIX is rallying because of some strategic partnerships,
- AI is the future.
If you’ve been following the cryptocurrency market lately, you may have noticed an anomalous price move by SingularityNET (AGIX). This token has been making waves in the market, recording an incredible 800% increase in value since the start of 2023.
Source: TradingView | AGIX/USDT Weekly Chart
As blockchain and artificial intelligence continue to shape the future of technology, SingularityNET is positioning itself as a game-changer in the industry. This decentralized platform aims to democratize access to AI services, making it easier for individuals and organizations to get involved and create their own applications. But what exactly is SingularityNET, and what’s behind the impressive growth of its cryptocurrency?
In today’s post, we’ll dive into the world of SingularityNET and explore its potential to revolutionize the AI industry. From its use of blockchain technology to its focus on ethics and transparency, we’ll examine what makes SingularityNET unique and why it’s a platform worth paying attention to. So let’s get started!
SingularityNET wants to Make AI Open to All
The world of artificial intelligence (AI) has grown tremendously over the past decade, leading to numerous advancements in technology and the creation of many intelligent systems that we use today. Despite these advancements, the AI industry still seems to be a niche sector and is dominated by a few large tech companies, making it difficult for smaller organizations and individuals to break into the market.
This is where SingularityNET comes in. SingularityNET aims to revolutionize the AI industry by making it more accessible and democratic. The platform uses blockchain technology to create a network of AI services that can be easily composed and reused to build new applications.
The main goal of SingularityNET is to “bring AI to the masses,” enabling individuals and organizations to create and use AI services regardless of their technical expertise or resources. The platform is designed to make AI development more straightforward and efficient so that anyone can participate and contribute to the network.
How SingularityNET Works?
At its core, SingularityNET is a decentralized network of AI services that are connected through smart contracts on the blockchain. This allows developers to easily access and reuse AI services from the network, making it easier for them to build new applications.
To incentivize participation and reward stakeholders for their contributions to the network, SingularityNET uses its native cryptocurrency, the AGIX token. This token can be used to pay for AI services on the network, and stakeholders who contribute to the network can earn rewards in the form of AGI tokens.
One of the key benefits of SingularityNET is its ability to allow AI services to interact and work together to solve complex problems. For example, one AI service on the network may specialize in image recognition, while another may specialize in natural language processing.
By connecting these services through the SingularityNET platform, developers can create new applications that leverage the strengths of both services, making it possible to solve problems that would be difficult for a single AI service to tackle on its own.
Currently, the SingularityNET network is home to around 15 AI-based platforms across various industries, including finance, robotics, biomedicine, media, the arts, and entertainment.
Why Did AGIX Record Its Recent Aggressive Surge?
Recently, SingularityNET announced a partnership aimed at enhancing the capabilities of its developers using Cardano’s programming language Haskell and MeTTa, an Artificial Intelligence Domain Specific Language (AI-DSL). This partnership will enable autonomous interoperability between SingularityNET’s AI services, making it easier for developers to create and integrate AI applications.
Source: Twitter
SingularityNET, which runs on both Cardano and Ethereum, is focused on enhancing interoperability between the two protocols by developing a bridge to tokens. With the increasing popularity of AI-based platforms and services, SingularityNET is well-positioned to take advantage of this growing market.
Source: Twitter
As a result of these developments, AGIX, the token used by SingularityNET, has seen an impressive surge in value. In the early hours of February 8, AGIX hit a 17-month high of $0.67 before settling at its current price of $0.41. Between the start of 2023 and its yearly high, AGIX has recorded a whopping +1,401% spike, from a low of $0.048 to $0.67.
Source: TradingView | AGIX/USDT Daily Chart
The growing popularity of AI-based platforms is one of the biggest reasons for AGIX’s recent growth, and it’s no surprise that SingularityNET is now among the top 10 most purchased tokens among the 100 biggest ETH whales, according to Whalestat.
Source: Twitter
The AI industry is projected to continue its rapid expansion, with a market value of $327.4 billion, and is predicted to drive further growth in the coming years. If SingularityNET can realize its objectives and follow through on its plan, it should greatly benefit from the positive outlook on AI and blockchain technology.
That said, analysts believe that the price of AGIX could reach anywhere between $2 and $3 in the next few months, making it an exciting opportunity for investors to consider.
Final Word: Embracing the Future of AI with SingularityNET
SingularityNET is a game-changer in the world of AI and blockchain technology. By developing a bridge to tokens and enhancing interoperability between Cardano and Ethereum, SingularityNET is paving the way for a more accessible and interoperable future of AI. With its growing popularity and the positive outlook on AI and blockchain, SingularityNET is positioning itself as a leader in the industry.
As we continue to see the impact of AI on our daily lives, it’s clear that SingularityNET is ahead of the curve and is set to play a significant role in shaping the future.
