In this moment, we have narrows AI specialized in different areas. SingularityNET is the protocol specifically designed to solve these problems uniting them all while opening the AI market to the entire world. SingularityNET enables AI-as-a-service on a permission less platform, so that anyone can use AI services easily without a large company or government controling these services thanks to blockchain.
SingularityNET is powered by the AGI token, which makes the decentralized economy possible. The AGI token also solves the Assignment of Credit Problem, allowing us to quantify the value an AI agent brings to the market. This problem is the first step toward creating Artificial General Intelligence (AGI), and the AGI token makes this breakthrough possible.
On December 21st, we launched a limited version of our TGE, with individual caps of 5 ETH. Other projects have sold to the highest bidders, often wealthy, powerful, centralized parties. We refused to exclude our community from the power of our platform. During this initial Community Appreciation Period (which lasted 24 hours), we were able to distribute AGI tokens to thousands of compliant community members.
On December 22nd, we lifted the individual cap as planned, and the remaining AGI tokens were sold in 66 seconds. The overwhelming demand reaffirmed our approach in designing the initial Community Appreciation Period, where thousands of our community members were able to participate despite the cumulative whitelist demand of $360+ million (our hard cap remained at just $36 million).