These three blockchain-based companies plan to form a combined entity called Singularity Finance. It will focus on using AI to manage assets and offer financial tools.
This move, announced on Tuesday, represents a major shift in how these companies will operate in the future.
SingularityDAO, Cogito, and SelfKey Unite for AI Innovation
The new project will act as a “layer-2 network”. This means it will help process transactions faster and more efficiently while using AI technology to improve the overall system. The network will focus on tokenizing assets like GPUs (graphics processing units).
They are crucial for AI and other tech-driven industries. AI-powered tools from Singularity Finance will also help users make smarter financial decisions. This is possible by analyzing data and trends in ways that humans can’t do alone.
Source: X
The merger brings together the three companies’ existing tokens. These are SingularityDAO’s SDAO, Cogito Finance’s CGV, and SelfKey’s KEY. All these tokens will be combined into a new token called SFI (Singularity Finance Token). The KEY token will become SFI directly, while the SDAO and CGV tokens will be exchanged at specific rates. SDAO holders will get SFI at a rate of 1:80.353, while CGV holders will exchange at a rate of 1:10.89. However, these numbers might change depending on feedback from the stakeholders.
Source: X
More About SingularityDAO
The merger is inspired by SingularityNET’s previous experience in June, where it merged with AI-focused projects Fetch.ai and Ocean Protocol. That merger resulted in the creation of a new token called the Artificial Superintelligence Alliance (FET). This will bring these projects together to create a united force in the AI world. SingularityDAO aims to follow a similar path by combining forces with Cogito Finance and SelfKey to create a stronger, more focused entity.
For those not familiar, tokenizing assets means creating digital versions of physical assets. They can be traded more easily and securely on a blockchain. In this case, Singularity Finance will focus on tokenizing things like GPUs. They are essential for AI processing. This is like turning valuable items into “digital money” that can be bought, sold, or traded more quickly and efficiently.
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This articles is written by : Fady Askharoun Samy Askharoun
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