Is SingularityNET a Blockchain?

Could you please clarify for me whether SingularityNET utilizes blockchain technology? I've heard some buzz about it being a decentralized platform, but I'm not entirely sure if it's built on blockchain. If it is, how does it incorporate blockchain features into its functionality? And what are the specific advantages that blockchain brings to SingularityNET? I'm quite interested in understanding the technological backbone of this project and how it fits into the larger crypto and finance landscape.