SingularityNET is a decentralized marketplace for artificial intelligence, based in the Netherlands, its mission is to democratize access to AI services, making them more accessible and breaking the traditional barriers that have confined AI development and utilization to large tech giants. SingularityNET allows developers to publish AI services to its network, making them available for use by anyone. These services encompass a wide range of domains including image, video, speech, text, time-series, bio-AI, and network analysis. The platform supports the creation of both individual AI applications and autonomous AI agents that can interact with other services on the network. A significant focus of SingularityNET is on bridging the gap between AI and robotics, aiming to create an interconnected network of AI services that no single entity owns​​​​..

AGIX, the utility token of SingularityNET, is integral to the ecosystem after its migration from AGI. Operating on both the Cardano and Ethereum blockchains, AGIX facilitates various functions within the platform. It is used for transactions, governance, and incentivization, empowering token holders to participate in decision-making and influencing the platform's development. AGIX plays a critical role in enabling and managing the exchange of AI services and resources on SingularityNET, thus driving the platform's mission to democratize AI access and enhance its capabilities

The migration from AGI to AGIX token was a strategic move to make the token cross-chain compatible, particularly with the Cardano blockchain. This step was crucial in the rollout of SingularityNET's Phase 2 plan. The migration involved creating an additional 1 billion tokens on Cardano, alongside the existing supply on Ethereum, and required replacing the old AGI token with the new AGIX token. This expansion was necessary to accommodate the platform's growth and enhance its interoperability between multiple blockchain networks​​.

SingularityNET was originally founded by Dr. Ben Goertzel and Dr. David Hanson, along with a team of AI researchers, blockchain experts, and entrepreneurs in 2017. This team is responsible for the development of SingularityNET and its evolution, including the transition from AGI to AGIX tokens​​.