SingularityDAO, Cogito Finance, and SelfKey are joining forces under a new project focused on tokenizing the AI economy. This merger will result in the creation of Singularity Finance, which aims to offer AI-powered financial tools and create a Layer-2 network for tokenizing assets such as GPUs.
Singularity Finance to Be Formed by a Three-Way Merger
The merger between SingularityDAO, Cogito Finance, and SelfKey has become a major development, drawing significant attention from the industry. The newly formed Singularity Finance will rebrand SelfKey’s current token KEY into SFI, the new token of Singularity Finance. Additionally, SingularityDAO’s SDAO token will be converted into SFI at a ratio of 1:80.353, while Cogito Finance’s CGV token will be converted at a ratio of 1:10.89. These conversion rates may be subject to change based on discussions with shareholders.
A Structure Similar to SingularityNET
This merger echoes a similar move made by SingularityNET earlier this year. In June, SingularityNET, along with Fetch.ai and Ocean Protocol, joined forces to launch the Artificial Superintelligence Alliance (ASI) token. Now, SingularityDAO is making headlines with a similar consolidation within the same ecosystem.
Singularity Finance’s announcement highlighted the project’s vision of developing tokenized asset management and AI-powered financial solutions. The merger is expected to drive significant transformation within the crypto ecosystem, especially in AI-based technologies.
Market Impact and Future of Singularity Finance
The innovations brought by this new project, along with Singularity Finance’s roadmap, are eagerly awaited by both investors and tech enthusiasts. Following the announcement, SingularityDAO’s SDAO token saw a surge of over 10%, currently trading at $0.3215, up by 11.52%. Cogito Finance’s CGV token increased by 18.65%, and SelfKey’s KEY rose by 11.93%.
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Singularity Finance, SingularityDAO, Cogito Finance, SelfKey, AI economy, tokenized assets
