ROAD TOWN, British Virgin Islands, May 20, 2022--(BUSINESS WIRE)--SingularityNET and SingularityDAO secured a $25 million commitment with Global investment group LDA Capital Limited, to accelerate product roadmap, adoption of AI tools and scaling the ecosystem while supporting the growth of decentralized AI in general and its use in decentralized finance.
"LDA Capital are excited by the advancements in both AI and DeFi shown by the SNET ecosystem and along with the commitment, LDA will be providing strategic advice and support to allow SingularityNET and SingularityDAO to continue to grow their position as industry leaders." - Anthony Romano, Managing Partner, LDA Capital Ltd
The global artificial intelligence (AI) software market is forecast to grow rapidly in the coming years and is expected to reach around 126 billion US dollars by 2025, while the DeFi market currently stands at 174 billion US dollars, with no signs of slowing down. While AI is already heavily intertwined within traditional tech and finance, the SNET Ecosystem is at the forefront in bringing AI to blockchain and DeFi. Bringing artificial intelligence and machine learning to crypto presents a considerable opportunity to improve the quality and relevance of DeFi services. The recent performance of SingularityDAO’s Vaults (DynaSets) have, moreover, consistently shown to be the perfect tool to protect against bear markets and further prove the validity of the technology being built.
"SingularityNET and SingularityDAO believe the agreement with LDA Capital will benefit both companies and help them consolidate their leadership in Decentralized AI and Decentralized Finance. The support of pioneering institutional partners such as LDA brings further validation to our vision, strategy and technology." - Mario Casiraghi, Co-Founder, SingularityDAO & SingularityNET
SingularityNET is a full-stack AI solution powered by a decentralized protocol and the first and only decentralized platform allowing AIs to cooperate and coordinate at scale, removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs.
As a spin-off project of SingularityNET, launched in 2021, SingularityDAO is a community governed DeFi Protocol that provides users with advanced cryptocurrency portfolio management tools powered by cutting edge artificial intelligence. They are dedicated to building the future of decentralized finance and delivering these high level tools in an easy to use fashion.
LDA Capital ltd.
LDA Capital is a global alternative investment group with expertise in cross border transactions worldwide. Our team has dedicated their careers to international & cross border opportunities having collectively executed over 250 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over US$10 billion. For more information please visit: www.ldacap.com; For inquiries please email: firstname.lastname@example.org.
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