- SingularityNET and Dfinity have launched a new AI-focused partnership.
- The two companies will collaborate on decentralized AI (DeAI) initiatives.
- AGIX and ICP tokens rose in response to the new developments.
The prices of Internet Computer (ICP) and SingularityNET (AGIX) tokens held steady this week after the two companies announced a new artificial intelligence (AI) partnership. AGIX token rose to a multi-month high of $0.3240 while ICP moved to a high of $4.96.
AGIX and ICP prices have done well recently, helped by the close correlation that exists in the crypto industry. Most other digital currencies like Bitcoin, Ethereum, Solana, and Polkadot have all soared, giving them a total market cap of over $1.4 trillion.
In a statement, SingularityNET and Dfinity announced that they would collaborate to advance decentralized AI infrastructure and bring AI-based services to all dApps building on the ICP.
This is a major partnership for several reasons. For example, Internet Computer is one of the leading players in the blockchain industry. Unlike smart contract platforms like Ethereum and Solana, it has a full infrastructure to enable developers to build dApps. It also has its own smart contract language known as canisters.
SingularityNET, on the other hand, is a leading player in the Web3 industry because it focuses on artificial intelligence. It has a marketplace that is made up of platforms that are changing the industry. Some of the key players of the ecosystem are Rejuve, Cogito, SingularityDAO, and Sophia Verse.
SingularityNET and Dfinity will also collaborate in how they award their grant programs. They will synergize these grants and provide developers the resources they need to build quality applications. Also, they will host joint events at ICP.Hubs to promote the technology. In a statement, the founder of Dfinity said:
“The Internet Computer, has been at the forefront of hosting artificial intelligence on the blockchain. Since the launch of the $5 million DeAI grant in July, we have seen an uptick in projects leveraging AI on ICP. This initiative with SingularityNET will further realize our vision for DeAI.”
AI tokens have been in the spotlight this week as challenges at OpenAI continued. On Friday, the board decided to fire Sam Altman, OpenAI’s Chief Executive Officer (CEO) and co-founder. Attempts to bring him back to the company during the weekend failed.
In the aftermath, Microsoft employed him to lead a new AI initiative in the company. These developments are important because OpenAI has been at the forefront of boosting AI. ChatGPT, its generative AI tool is the most advanced one in the industry.
