AGIX is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token. This means it’s backed by the Ethereum [proof-of-stake](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos) (PoS) [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) algorithm and battle-tested network of validators. To date, the Ethereum network has never been successfully [attacked](https://coinmarketcap.com/alexandria/glossary/51-attack) and is considered one of the most secure networks currently operating. The team behind SingularityNET has hinted that SingularityNET may move to another blockchain in the future, and recently [announced](https://blog.singularitynet.io/singularitynet-collaborates-with-iohk-to-explore-cardano-agi-synergies-8bd1570ffab2) it was exploring the possibility of launching on the delegated proof-of-stake ([dPoS](https://coinmarketcap.com/alexandria/glossary/delegated-proof-of-stake-dpos)) [Cardano](https://coinmarketcap.com/currencies/cardano/) blockchain.

As of February 2021, a total of 861.5 million AGIX tokens representing 86% of the total supply were in circulation. As such, AGIX can be considered largely diluted. Half (50%) of the total AGIX supply was sold during SingularityNET's 2017 ICO. Beyond this 20% was reserved for early developer and partner incentives, 18% for the core team members (now fully vested), 8% for the SingularityNET foundation for the long-term development of the platform, whereas the last 4% was reserved for security bounties.

SingularityNET is the first platform that makes it easy for developers to sell their AI tools and libraries and enables buyers to test any AI service provided on the marketplace to see if it meets their needs before making payment. On top of this, those in need of specific AI services can also tap SingularityNET’s extensive community of AI specialists through the Request for AI portal (RFAI) — which allows customers to easily commission a new AI tool, while developers can earn AGIX tokens by filling these requests. The utility of the AGIX token has evolved with the development of the SingularityNET ecosystem. In October 2020, SingularityNET launched its SingularityNET Enhancement Proposal (SNEP) feature, enabling AGIX holders to vote on changes to the network’s operations. Whereas in March 2020, a staking feature was added, enabling users to stake their tokens In a collaboration with Hanson Robotics, SingularityNET recently released a joint venture known as Awakening Health, which develops products that leverage AI for healthcare purposes. Its first product is Grace, a humanoid assistant for the healthcare industry.

SingularityNET has an extensive team largely of AI scientists, developers, researchers and engineers. It was founded by Dr. Ben Goertzel (SingularityNET's CEO and chief scientist) in addition to Simone Giacomelli and Dr. David Hanson. Dr. Ben Goertzel is an established figure in the AI and robotics industry and has a long distinguished track record of working with advanced technology companies — including Hanson Robotics and the OpenCog Foundation. He also works as Mozi Health's chief scientist and vice chairman for Humanity+. Simone Giacomelli is an entrepreneur and investor that previously worked for crypto consultancy Cryptodex. He left the SingularityNET project in March 2019 and is now focused on the technology R&D lab Vulpem, which he founded in 2015. Dr. David Hanson is SingularityNET's third co-founder. He has a long and varied history in the robotics industry, working with Disney between 1998 and 2001 before founding several robotics startups — including Human Emulation Robotics, Initiative for Awakening Machines and Hanson Robotics over the last two decades.

SingularityNET is a [blockchain-powered](https://coinmarketcap.com/alexandria/glossary/blockchain) platform that allows anybody to easily "create, share, and monetize" AI services, thanks to its globally-accessible AI marketplace. Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token — AGIX. Moreover, the marketplace represents an outlet AI developers can use to publish and sell their AI tools, and easily track their performance. With the benefits of LLMs and generative AI are increasingly exciting, their limitations are also becoming increasingly apparent. The convergence of structured knowledge with neural networks is emerging as the key to overcoming their shortcomings. Uniquely positioned at the heart of this convergence, SingularityNET will prioritize the integration of Knowledge Graphs (KGs) and comprehensive Neural Symbolic tools for LLMs, with the goal of empowering developers to create the next generation of AI systems on the SingularityNET Platform. SingularityNET is strategically positioned to become the Knowledge Layer of the Internet, leading the evolution of the emerging AI landscape while also laying the foundations for the Artificial General Intelligence (AGI) of tomorrow. The team behind SingularityNET pioneered the development of an AI known as Sophia, which is described as the "world's most expressive robot". SingularityNET’s goal is to enable Sophia to be able to fully understand human language, and continue developing “OpenCog” — an AI framework that is hoped to eventually achieve a state known as “advanced general intelligence,” i.e. human-level artificial intelligence (or beyond). The platform was first announced in 2017 and completed an initial coin offering ([ICO](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico)) in December the same year, raising $36 million in just one minute.