SingularityNET and Singularity DAO have received a $25 million commitment from global investment group LDA Capital Limited to accelerate their product roadmap, adoption of artificial intelligence tools for decentralized finance (DeFi), and ecosystem scaling.
- "LDA Capital is excited about the progress the SNET ecosystem has made in the areas of artificial intelligence and DeFi. Along with the commitment, LDA will provide strategic guidance and support to help SingularityNET and SingularityDAO continue to build their position as industry leaders," said Anthony Romano, managing partner of LDA Capital, in the announcement on Medium.
- SingularityNet is a decentralized, protocol-based suite that enables AIs to coordinate in a scalable, interoperable manner.
- The SingularityDAO spinoff, launched last year, brings community governance to a DeFi protocol that provides AI-powered tools for managing cryptocurrency portfolios.
- "...DAOs may themselves be on the verge of a transformation that could address perhaps their biggest weakness. The current DAO model is human-led, and as a result, DAO decisions are prone to misjudgment," wrote Marcello Mari, CEO of SingularityDAO, in an opinion piece for CoinDesk earlier this year. "The use of artificial intelligence, another transformative technology, would eliminate these errors and make DAOs even more effective."