SingularityNET is a decentralized platform designed to foster the creation, combination, and monetization of artificial intelligence (AI) services on a global scale. Its native digital token, AGI (short for "Artificial General Intelligence"), facilitates transactions within the platform and incentivizes the sharing and growth of AI resources. Conceived by Dr. Ben Goertzel and his team, SingularityNET aims to resolve existing inefficiencies in the AI sector by promoting open access and intercommunication between AI services, thus facilitating their seamless integration.

One of the platform's primary goals is to avoid the monopolization of AI resources by a few tech giants, and instead, democratize access to AI capabilities. By leveraging blockchain technology, SingularityNET ensures transparency, security, and trust in the AI transactions taking place on its network. Furthermore, the platform is designed to support the emergence of Artificial General Intelligence by creating a collaborative environment where diverse AI algorithms can co-evolve and improve.

The SingularityNET team boasts 50+ AI developers and 10+ PhDs. Dr. Ben Goertzel leads the group as CEO and Chief Scientist. He’s also the Chairman of the OpenCog Foundation and the Artificial General Intelligence Society, as well as the Chief Scientist at Hanson Robotics, the partner company helping bring SingularityNET to life.

As of 2024, SingularityNET has made significant progress in expanding its AI ecosystem. One major update is the introduction of HyperCycle, a Layer 2 blockchain designed to enhance scalability and efficiency for AI services on the platform. This development aligns with the platform's vision of democratizing access to AI by reducing barriers to entry for developers and users alike. Additionally, SingularityNET has rebranded its token from AGI to AGIX, reflecting the platform's evolution and broadening scope.

The platform continues to advance its mission to foster Artificial General Intelligence (AGI), with new AI tools and partnerships aimed at integrating AI more seamlessly across sectors like healthcare, finance, and robotics. SophiaVerse, a metaverse project involving the famous AI robot Sophia, has also been integrated into the ecosystem, showcasing the potential for AI in virtual worlds. These advancements highlight SingularityNET's ongoing efforts to combine cutting-edge AI with decentralized governance and development frameworks.