SingularityNET, the decentralised artificial intelligence (AI) marketplace, has announced its plans to set up an AI advancement shop in Switzerland. This move comes as the company relocates its headquarters from Amsterdam to Zug, also known as the Crypto Valley, renowned for being a hotspot for innovative crypto startups.
The decision to establish a foundation in Switzerland demonstrates SingularityNET’s commitment to decentralisation and expanding its global community to European countries. Switzerland, with its state-of-the-art infrastructure and progressive regulatory landscape, provides an ideal jurisdiction for crypto and Web3-focused companies like SingularityNET.
The CEO and founder of SingularityNET, Ben Goertzel, believes that this strategic decision will pave the way for future advancements in Web3-focused development and address the challenges faced by the modern Web3 ecosystem worldwide. With the help of STORM Partners, SingularityNET aims to promote the values of decentralisation, democracy, and inclusiveness across its organisation.
The company’s move to Switzerland comes at a time when Swiss-based crypto projects, including Ethereum, Cardano, and Solana, have experienced a significant increase in valuation. Recent reports indicate that these projects reached a combined valuation of $383 billion, marking a 107% year-over-year increase. This surge can be attributed to the overall recovery in the crypto market despite a decrease in VC funding for new crypto startups.
The relocation of SingularityNET’s headquarters to Switzerland exemplifies the country’s appeal as a favourable destination for crypto companies. Switzerland offers ample opportunities to showcase services and promote the values that SingularityNET stands for.
By establishing a presence in Switzerland, SingularityNET is poised to thrive in the fast-growing world of AI and contribute to the advancement of the SingularityNET ecosystem. The company’s decision reinforces Switzerland’s reputation as a leading hub for crypto innovation and sets the stage for exciting developments in AI technology.
In summary, SingularityNET’s move to Switzerland marks a significant milestone in its journey towards achieving decentralisation and expanding its influence in the European market. With a focus on Web3 development, SingularityNET aims to leverage Switzerland’s crypto-friendly environment to propel its mission forward and address the challenges of the modern web. As the crypto market continues to rebound, the relocation to Switzerland aligns with the company’s vision for growth and success in the AI and blockchain space.
