The staking portal will enable AGIX token holders to stake their tokens on the Cardano network, rather than just on Ethereum. The project launched an ERC-20 token converter last year, allowing users to transfer their AGIX from Ethereum to Cardano.
The SingularityNET team shared the announcement with their Twitter followers, which currently number over 100,000. The portal will go live "early next month" in a beta testing phase, with the successful test indicating its release on the mainnet.
The cryptocurrency's market capitalization currently stands at $680 million. The price of AGIX saw a surge earlier this month, as tech giants invested in artificial general intelligence projects. Microsoft invested as much as $10 billion on ChatGPT-maker OpenAI and reportedly plans to integrate it into its search engine, Bing. Meanwhile, Google announced the launch of a ChatGPT competitor called Bard.
The SingularityNET team is a pioneer in the field of Artificial Intelligence and is responsible for creating Sophia, the world's most expensive robot. Their goal is to enable Sophia to understand human language and fully develop OpenCog, a diverse framework of AI algorithms representing their innovation.
SingularityNET enables anyone to "build, share, and monetize" AI services through its marketplaces. Users can browse and purchase these services using the platform's native AGIX token. According to Coinbase, SingularityNET provides businesses with a streamlined process to integrate AI tools and customize solutions to meet their specific needs while ensuring accessibility.
The project's whitepaper was first released in February 2019, and the platform was initially announced in 2017 by Dr. Ben Goertzel, the CEO and chief scientist of the organization.