Fetch.ai, SingularityNET, and Ocean Protocol have merged their tokens to form the Artificial Superintelligence Alliance (ASI) token. This consolidation, approved by the respective communities of each project, is expected to position ASI among the top 20 cryptocurrencies by market capitalization, boasting an anticipated value of $7.5 billion.
SingularityNET shared a post on this historic decision on X platform.
The merger signifies a significant step towards decentralized Artificial General Intelligence (AGI) research and development. By combining forces, Fetch.ai’s AI marketplace, SingularityNET’s focus on AI applications across various sectors, and Ocean Protocol’s data trading platform aim to create a more democratic and transparent AI ecosystem.
Humayun Sheikh, Chairman of the ASI and CEO of Fetch.ai, emphasized the importance of ethical and trustworthy AI practices. He believes this collaboration empowers developers and users by fostering a decentralized infrastructure for AI development, stating,
Our mission is to create a decentralized AI infrastructure at scale, ensuring ethical and trustworthy practices. By combining our platforms, we empower developers and users alike, fostering a more democratic and transparent AI ecosystem.
Looking ahead, ASI plans to leverage its combined resources for several key initiatives. These include deploying AI agents in commercial settings, developing advanced neural symbolic language models, and facilitating AI data sharing and utilization.
The token merger process is underway with FET becoming ASI with a total supply of approximately 2.63 billion tokens. AGIX and OCEAN tokens will be converted into ASI at predetermined conversion rates. Following the merger, the individual tokens (FET, AGIX, OCEAN) will no longer be tradable on exchanges.
This strategic alliance not only unites influential figures in the AI space but also challenges the dominance of Big Tech in the AI domain. Dr. Ben Goertzel, founder of SingularityNET, highlighted the goal of democratizing AI development and preventing Big Tech from controlling this powerful technology.
The ASI merger promises commercial AI agents for tasks like optimizing supply chains or personalizing customer service. They also plan for advanced language models that can generate human-quality content and understand complex communication.
