SingularityNET (AGIX) up 12% as Cardano’s Most Hyped AI Project Launches New Event

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The SingularityNET token, AGIX, is up more than 12% in today’s crypto market trading session. AGIX, which has emerged as one of the leaders in the crypto artificial intelligence sector, has grown by more than 480% since the beginning of 2023. Riding the wave of hype around AI, SingularityNET itself is also pumping demand for its native token, including through generative events on its launchpad.

One such event kicked off today when SingularityNET launched the Rejuve Utility Token (RJV), a native token of the project of the same name. Rejuve AI is a side project by SingularityNET that aims to increase the human lifespan through the collection and processing of big data using artificial intelligence tools.

To take part in the Rejuve AI token launch, those wishing to participate need to lock AGIX into staking on SingularityNET. A total of 1 billion RJVs will be distributed, of which 35.21% will be on the Cardano network and 64.79% on the Ethereum network. Such a focus on these two chains is key for SingularityNET since its native token has similar tokenomics.

It is interesting how more projects from the artificial intelligence sector are emerging on Cardano, given how much attention is now being paid to projects of this nature. Whether Cardano will become a focal point for top AI crypto projects like Solana for NFT is an open question, but steps in that direction have already been taken.