SingularityDAO and SingularityNET sign a $25m capital commitment
By Edlyn Cardoza
SingularityNET and SingularityDAO secured a $25 million commitment with global investment group LDA Capital Limited to accelerate the product roadmap, adopt AI tools, and scale the ecosystem while supporting the growth of decentralized AI in general and its use in decentralized finance.
“LDA Capital are excited by the advancements in both AI and DeFi shown by the SNET ecosystem, and along with the commitment, LDA will be providing strategic advice and support to allow SingularityNET and SingularityDAO to continue to grow their position as industry leaders,” said Anthony Romano, Managing Partner, LDA Capital Ltd.
The global artificial intelligence (AI) software market is forecast to grow rapidly in the coming years. It is expected to reach around 126 billion US dollars by 2025, while the DeFi market currently stands at 174 billion US dollars, with no signs of slowing down. While AI is already heavily intertwined within traditional tech and finance, the SNET Ecosystem is at the forefront of bringing AI to blockchain and DeFi. Bringing artificial intelligence and machine learning to crypto presents a considerable opportunity to improve the quality and relevance of DeFi services. The recent performance of SingularityDAO’s Vaults (DynaSets) has consistently shown to be the perfect tool to protect against bear markets and further prove the validity of the technology being built.
“SingularityNET and SingularityDAO believe the agreement with LDA Capital will benefit both companies and help them consolidate their leadership in Decentralized AI and Decentralized Finance. The support of pioneering institutional partners such as LDA brings further validation to our vision, strategy and technology,” said Mario Casiraghi, SingularityNET & SingularityDAO.
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