SingularityNET, the first decentralized AI network, has launched a new decentralized ecosystem project funding program — Deep Funding. The program will allocate $1m USD in AGIX tokens to projects that use the SingularityNET AI platform to publish and monetize their AI applications. The goal is to grow the SingularityNET platform and related AGIX economy, while operating as a community-driven program.
The Deep Funding pool will be available to AI and app developers working on cutting-edge AI projects that contribute to expanding the SingularityNET platform. Portal went live on 28 March, 2022 and applicants now can submit a development proposal, which will be reviewed and evaluated by SingularityNET’s community of token holders. Voting will be done based on the one token = one vote principle, and the projects that receive the highest number of votes will be selected for funding.
Each successful project can win up to $150K in this first funding round. Funding will be made available in the form of newly minted AGIX tokens, minted as Native Assets in the Cardano ecosystem.
Detailed submission guidelines are available on the Deep Funding website, but eligible applications should meet two core requirements: Help the SingularityNET AI platform grow, and support the mission and vision of SingularityNET to work towards the development of a benevolent, democratic and inclusive artificial general intelligence (AGI). In this sense, projects aimed at social good might be favored by the community during the evaluation process.
Proposals need to include details about the project idea, the funding required and use of proceeds, as well as a timeline and milestones to track progress. Milestones tracking is a crucial element, because the funds will be distributed in tranches once each milestone is met.
“At SingularityNET, we envision a broad community working together to make decentralized AI a powerful force that benefits humanity at large,” commented Dr Ben Goertzel, CEO of SingularityNET. “We are aiming to shift the AI industry off centralized Big Tech and onto decentralized, blockchain-based networks, with the final goal of using this decentralized AI engine in the transition from narrow AI to AGI. This is a big effort that requires the participation of a large and industrious community.”
“The goal of the Deep Funding program is to catalyze the process of expanding our active community of developers and entrepreneurs. Deep Funding will also facilitate AI product development on the platform and gather people with different skill sets to work towards our ecosystem’s goals,” he concluded.
“The Deep Funding program will support the mainstream adoption of the SingularityNET AI platform and incentivize our community to collaborate and co-create,” added Jan Horlings, VP of product and in charge of the Deep Funding program. “The program is not just an incubator of AI projects, but an opportunity to drive community engagement and a testing ground for governance where, over time, we will be able to experiment with concepts like liquid democracy and weighted liquid reputation. This will allow us to support the most proactive community members with rewards. I’m looking forward to discussing with the community what features and processes work best, what to change and how to collaborate to reach our common goals.”
In future rounds, to facilitate innovation and focus on crucial ecosystem areas, the SingularityNET team might offer suggestions and recommendations for project proposals. However, the community of token holders will ultimately decide which projects should receive funding.
The proposal submission portal is open as of 28 March, 2022. To be notified and stay up-to-date with DEEP Funding announcements, visit deepfunding.ai and fill out the form, or use our Telegram group https://t.me/deepfunding. To submit the proposal, use the portal link https://proposals.deepfunding.ai/
About SingularityNET: SingularityNET is a fully-fledged AI ecosystem with a rich community all working toward the global distribution of AI. It is the first and only decentralized platform allowing AIs to cooperate and coordinate at scale, while enabling everyone to take advantage of a global network of AI algorithms, services, and agents. No longer must AI technology exist in silos, only capable of operating within a specific company, infrastructure, or industry.
For further information contact:
Name: Jan Horlings