SingularityNET and SingularityDAO have been awarded $25 million to accelerate AI-powered DeFi

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SingularityNET and SingularityDAO have received a $25 million investment from LDA Capital Limited, a global investment firm, to help speed their product roadmap, the adoption of artificial intelligence (AI) solutions for decentralized finance (DeFi), and ecosystem growth.

- "LDA Capital is excited by the advancements in both AI and DeFi demonstrated by the SNET ecosystem," said LDA Capital Managing Partner Anthony Romano in a Medium post. "In addition to the commitment, LDA will be providing strategic advice and support to allow SingularityNET and SingularityDAO to continue to grow their position as industry leaders."

- SingularityNet is a protocol-backed decentralized suite that enables AIs to collaborate in a scalable and interoperable manner.

- The SingularityDAO spinoff, a decentralized autonomous organization (DAO) that was founded last year, adds community governance to a DeFi protocol that provides AI-powered tools for managing bitcoin portfolios.

- "DAOs may be about to undergo a transformation that will address their most serious flaw." SingularityDAO CEO Marcello Mari wrote in a CoinDesk opinion piece earlier this year, "The present DAO paradigm is human-run, and as a result, DAO decisions are prone to errors in judgment." "Another disruptive technology, artificial intelligence, might eliminate those errors and make DAOs even more productive."

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