Singularity Finance Announces Merger with Cogito Finance and SelfKey to Tokenize the AI Economy
- DDDOriginal
- 2024-10-15 21:26:15830browse
SingularityDAO, Cogito Finance, and SelfKey have announced plans to merge, creating a new project aimed at tokenizing the artificial intelligence (AI) economy.
Three projects in the blockchain space, namely SingularityDAO (SDAO), Cogito Finance (CGV), and SelfKey (KEY), have announced plans to merge and create a new project focused on tokenizing the artificial intelligence (AI) economy.
The merger announcement comes amid increasing attention and integration of AI technologies within blockchain ecosystems. Various projects are exploring methods to tokenize and manage valuable AI assets, enabling them to be traded and utilized within decentralized financial (DeFi) markets.
According to preliminary information, the exchange ratios for the merger are 1:80.353 SDAO and 1:10.89 CGV. However, these numbers may be subject to change based on further discussions with stakeholders.
The merger aims to streamline the financial mechanisms of the three projects into a unified system that can support the rapidly evolving AI economy. Notably, Singularity Finance’s platform will be used to tokenize assets critical to AI development, such as graphics processing units (GPUs). These GPUs are essential for the training and deployment of AI models.
Furthermore, the new entity will be able to offer AI-powered financial tools, enabling more efficient and intelligent financial transactions within the blockchain space. By combining the strengths of the three projects, Singularity Finance is positioned to become a leading player at the intersection of AI and DeFi.
This merger is part of a broader trend within the blockchain sector, where AI-focused projects are consolidating to maximize innovation and efficiency. These moves highlight the growing importance of AI technologies and the demand for more specialized financial tools within the blockchain industry.
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