SingularityDAO, Cogito, and SelfKey Unite for AI Innovation

The new project will act as a "layer-2 network." This means it will help process transactions faster and more efficiently while using AI technology

Three blockchain-based companies, SingularityDAO, Cogito Finance, and SelfKey, are merging to form a new entity called Singularity Finance. The new company will use AI to manage assets and offer financial tools.

The merger will create a “layer-2 network” that will help process transactions faster and more efficiently. The network will also use AI technology to improve the overall system.

Singularity Finance will focus on tokenizing assets like GPUs, which are crucial for AI and other tech-driven industries. The company will also offer AI-powered tools that will help users make smarter financial decisions.

The merger will also combine the three companies’ existing tokens. SingularityDAO’s SDAO, Cogito Finance’s CGV, and SelfKey’s KEY will all be combined into a new token called SFI (Singularity Finance Token).

The KEY token will directly become SFI, while the SDAO and CGV tokens will be exchanged at specific rates. SDAO holders will get SFI at a rate of 1:80.353, and CGV holders will exchange at a rate of 1:10.89. However, these numbers might change depending on feedback from the stakeholders.

The merger is inspired by SingularityNET’s previous experience in June, where it merged with AI-focused projects Fetch.ai and Ocean Protocol. That merger resulted in the creation of a new token called the Artificial Superintelligence Alliance (FET). This will bring these projects together to create a united force in the AI world. SingularityDAO aims to follow a similar path by combining forces with Cogito Finance and SelfKey to create a stronger, more focused entity.

For those not familiar, tokenizing assets means creating digital versions of physical assets. They can be traded more easily and securely on a blockchain. In this case, Singularity Finance will focus on tokenizing things like GPUs, which are essential for AI processing. This is like turning valuable items into “digital money” that can be bought, sold, or traded more quickly and efficiently.