Key Points
- The Artificial Superintelligence Alliance has announced the approval of the ASI token merger.
- The launch is scheduled for May and involves the merging of crypto AI firms Fetch.ai, Singularity.NET, and Ocean Protocol.
- ASI’s total value is anticipated at $7.5 billion and it will merge $FET, $AGIX, and $OCEAN.
Last month, three of the most important AI firms, SingularityNET, Fetch.ai, and Ocean Protocol, agreed to merge their tokens in a new partnership.
The ASI token merger, which aims to foster the development of a decentralized AI, has been approved, according to the Artificial Superintelligence Alliance. The launch is scheduled to take place in May.
The merger’s target is to position the ASI token into the top 20 largest cryptos by market cap, following the voting by constituent alliance communities Fetch.ai and SingularityNET.
ASI merges $FET, $AGIX, and $OCEAN
The total value of ASI is anticipated at $7.5 billion, and it’s set to be completed next month, merging $FET, $AGIX, and $OCEAN.
After receiving majority approval from each community, ASI token merger will proceed with the following steps, according to the original press release:
- $FET is set to become $ASI with a total supply of 2.63055 billion tokens
- $AGIX tokens will migrate to $ASI, at a conversion rate of 0.433350 to 1
- $OCEAN tokens will migrate to $ASI, at a conversion rate of 0.433226 to 1
Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai. expressed his enthusiasm to announce the successful conclusion of the token merger voting process.
He highlighted that this move marks an important milestone of the beginning of a new chapter in AI development where collective efforts of the participants are set to drive progress towards decentralized AGI and ASI.
The project’s mission is to create a decentralized AI infrastructure at scale and to ensure ethical and trustworthy practices. By merging the platforms, developers, and users will receive empowerment in order to foster a more democratic and transparent AI ecosystem.
The Artificial Superintelligence Alliance shared the announcement about the ASI launch on X, stating that updates on the multi-billion token merger will follow.
AI projects see exponential growth
The merger of the three AI crypto companies, Fetch.ai, Singularity. NET and Ocean Protocol is a response to the exponential growth of the AI projects market, which aims to challenge the dominance of Big Tech in the development, use, and monetization of AI.
This is a significant moment in the AI landscape involving the work of three influential decentralized leaders which merge and form the Artificial Superintelligence Alliance set to become one of the most important players in AI research and development.
The alliance goes beyond a response to the rapid growth of AI projects, aiming to challenge Big Tech’s dominance in the market. The collaboration’s target is also to accelerate AGI investments, bringing forth the commercialization of next-generation AI tech while enabling wide-scale access to AI platforms and large databases.
Dr. Ben Goertzel, Founder and CEO of SingularityNET, emphasized the importance of democratizing AI development and said that the firms’ mutual vision has been to roll out AGI and ASI in an open, decentralized and democratic manner. The merger brings this goal closer to implementation while strengthening the firms’ ability to challenge Big Tech’s current control over AI.
Bruce Pon, the founder and CEO of Ocean Protocol, expressed his enthusiasm as well, saying that they are executed to get started following the approval of the token merger.
Decentralized AI is seeking to democratize access to all AI technologies, and the target is to move away from the control of tech giants and make sure that corporations will not only prioritize shareholder interests.
About Fetch.ai, Singularity.NET and Ocean Protocol
Fetch.ai is an AI company based in Cambridge that redefines the possibilities of an intelligent and connected world via AI-based tech. The infrastructure technology enabled developers and businesses to build, deploy, and monetize via an agent-based modular platform for next-gen AI apps. The company’s main product is DeltaV, which fuses LLMs and AI Agents to create an open and dynamic marketplace.
Singularity.NET aims to create a decentralized, democratic AGI (Artificial General Intelligence). According to its founder, Ben Goertzel, AGI should be independent of any central entity and open to all, not restricted to the narrow goals of a single corporation or country. The application areas include finance, robotics, biomedical AI, media, arts, and entertainment.
Ocean Protocol features tools that enable businesses and individuals to trade tokenized data assets seamlessly to manage data along the AI model life cycle. The Ocean-powered apps include enterprise-grade data exchanges, data science competitions, and data DAOs. The Ocean Predictor features more than $800M monthly volume just half a year since its launch.