SingularityDAO Merges with Cogito Finance and SelfKey to Launch Singularity Finance
By Shikha Singh
Singularity Finance, a new entity focusing on tokenizing the artificial intelligence (AI) economy, will emerge from the merger of SingularityDAO with Cogito Finance and SelfKey. Shared on Tuesday, the announcement reveals that Singularity Finance will offer a layer-2 network for tokenizing assets like GPUs and provide AI-powered financial tools.
As part of the merger, SelfKey’s existing token, KEY, will transition to become the new token, SFI. SingularityDAO’s SDAO and Cogito’s CGV will merge into SFI at ratios of 1:80.353 and 1:10.89, respectively, with adjustments possible based on stakeholder discussions.
This follows a similar merger by SingularityNET in June, which combined with Fetch.ai and Ocean Protocol to create the Artificial Superintelligence Alliance token (ASI).
Furthermore, the AI sector has also seen growth, with the market cap of Big Data and AI tokens increasing by 4.9% to $36.5 billion. Nine of the top 10 AI tokens rose in value, with standout performances from Turbo (TURBO), Arkham (ARKM), and Humans.ai (HEART). However, Bittensor (TAO) was the only top 10 AI token to decline slightly.
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