DigitalX named advisor on high profile ICOs raising US$61m

DigitalX Ltd (ASX:DCC) is strengthening its credentials as one of the world’s leading corporate advisors for Initial Coin Offerings (ICOs), accepting the engagement as corporate advisor to SingularityNET and BitCar for their respective upcoming ICOs for token sales raising a combined US$61 million.

The SingularityNET public ICO will look to raise up to US$36 million from the sale of 500 million tokens, while the BitCar ICO will raise up to US$25 million from 250 million tokens.

DigitalX offers a unique combination of Blockchain technical expertise as well as marketing and promotional services. We also have an extensive cryptocurrency network and can connect companies with investors with significant digital currency holdings. DigitalX will be providing these services to each of SingularityNET and BitCar.

SingularityNET (ww.singularitynet.io) is a decentralised, open market for Artificial Intelligence (AI) algorithms. It consists of a population of AI Agents that share data and knowledge with each other, and request and carry out services for each other and for customers.

DigitalX CEO, Leigh Travers explained, “Distributed ledger technology enables the network of AIs to operate in a fully decentralised way. Anyone can post an AI online and enter it into the network, and anyone can issue a request for services to the network, potentially achieving responses from any Agent in the network.”

The most prominent example of the applications for SingularityNET is the world’s most famous robot, Sophia[1][i]. SingularityNET recently undertook a two-month global tour that has generated an unprecedented amount of publicity. DigitalX led the Australian portion of the roadshow.

The project is headlined by a recent partnership with SGInnovate, the private technology arm of the Singapore government[2].

The SingularityNET presale is currently running until mid-December, when a public ICO will begin to raise additional funds for 24 days up to US$36 million through the sale of 500 million tokens. DigitalX will receive approximately 0.8% of the 1 billion AGI tokens in the project for marketing and promotional services, plus additional fees for introducing the SingularityNET project to the DigitalX cryptocurrency investor network.

BitCar (www.bitcar.io/) is an exotic car ownership platform that combines the two best performing asset classes, cryptocurrency and exotic cars for an upcoming token sale. Bitcar was recently covered in the Australian Financial Review[3].

“BitCar was founded by some of the leading minds behind Australia’s first major ICO, Power Ledger. Both BitCar and DigitalX received strong expressions of interest at the Block Asia conference in Singapore this week,” said Mr Travers.

The token sale will see up to US$25 million raised from up to 250 million tokens sold. DigitalX will receive approximately 4 million tokens in the project for corporate advisory services, based on success.

[1] http://www.news.com.au/technology/innovation/inventions/worlds-first-robot-citizen-says-she-wants-to-start-a-family/news-story/4c566043cb30f49cf118b8c26084d0de

[2] https://medium.com/@scott_jones/af3596164ece

[3] http://www.afr.com/news/bitcar-ico-seeks-25m-from-supercar-bitcoin-fans-20171108-gzh36z

[i] https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=9&cad=rja&uact=8&ved=0ahUKEwjH8peCw-PXAhWEGJQKHYizCOQQFghOMAg&url=http%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Ftechnology%2Frobot-sophia-charged-with-helping-link-developers%2Fnews-story%2F6a5884fb820478e64457f4385e442e28&usg=AOvVaw27gilJ2C5WMhp7fml3RdMR