AI project sets a new record in ICO fundraising

26.12.2017

A startup that is creating a decentralized base for blockchain based AI, came out at the fastest in the history of ICOs. The SingularityNet project raised $36 million in one minute, as reported by Crowdfundinsider.

Initially the ICO, which was held on December 22nd, was planned to be held almost a month earlier - on December 8th. But since the waiting list turned out to be huge - with 20,000 investors registered, ready to invest $361 million - the company had to postpone the placement. SingularityNet decided to limit this to $36 million in principle to comply with international rules on combating crime and money laundering (KYC / AML). They used an AI that carefully selected candidates and reduced their number to 5,000 investors.

One of the founders of SingularityNet, Simone Giacomelli, said that the team tried not to oversaturate the project with 'inflated' investments. "We believe that this solution sets a good example for all future token sales", he says.

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