The entire decentralized AI industry is abuzz with the recent approval of a $7.5 billion merger. Approved by the Artificial Superintelligence Alliance, this merger combines cutting-edge AI expertise to create a powerful decentralized ecosystem. This merger has the potential to change the landscape of all decentralized AI blockchains.
The Beginning of a New Era
On March 27, 2024, three leading firms in the decentralized AI landscape, SingularityNET, Fetch.ai, and Ocean Protocol, announced a partnership to merge their tokens into a new entity called the ASI token. This decision aimed to support the expansion of a large-scale decentralized system for AI. This merger is poised to drive the ASI (Artificial Superintelligence) token as one the top 20 crypto by marketcap.
The merger is expected to increase investment in AGI (Artificial General Intelligence). The crypto AI alliance between the three AI firms is a major milestone in the decentralized landscape.
Also read: FET, AGIX, OCEAN Merge for Artificial Superintelligence
ASI Token Merger
The ASI token will combine the native tokens of Fetch.ai ($FET), SingularityNET($AGIX), and Ocean Protocol ($OCEAN). The merged ASI token is expected to have a valuation of around $7.5 billion and a total supply of nearly 2.63 billion tokens. The token merger will proceed in the following steps,
- $FET will be converted into $ASI with a supply of 2.63055 billion tokens
- $OCEAN will migrate to $ASI at a conversion rate of 0.433226 to 1
- $AGIX will be converted into $ASI at a conversion rate of 0.433350 to 1
The ASI token emphasizes decentralization and transparency in AI developmen.. This method ensures the development of powerful technologies by fostering collaboration, oversight, and accountability, aligning with the community’s interests.
The three firms are led by renowned AI experts. By combining their expertise, ASI will be better suited to tackle the technical challenges. Furthermore, the merger will allow the sharing of data, algorithms, and infrastructure among the three protocols.
Also Read: $7.5 Billion Merger Creates Artificial Superintelligence Alliance (ASI) Token
ASI Token Voting And Approval
On April 2, 2024, the voting was held for the merger of SingularityNET, Fetch.ai, and Ocean Protocol. On April 16, 2024, it was confirmed that the voting was successful and that the community had approved the ASI token merger. The token will be officially launched on May 24, 2024.
Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, commented,
We’re thrilled to announce the successful conclusion of the token merger voting process. This marks the beginning of a new chapter in AI development, where our collective efforts will drive progress towards decentralized AGI and ASI. 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.
Bruce Pon, Ocean Protocol’s CEO and founder, said they are glad that the Fetch and SingularityNET communities have cleared this hurdle and approved the token merger.
Also read: AI Titans Fetch.ai & SingularityNET Team Up, Analyst Reveals Impact
The founder and CEO of SingularityNET, Dr. Ben Goretzel, said in a statement that their joint vision has always been to roll out beneficial Artificial General Intelligence and Superintelligence in an open, democratic, and decentralized manner. He claimed that the ASI token merger brought them closer to their goal and strengthened their ability to challenge Big Tech’s bid for control over AI.
Impact on Decentralized AI
1. Decentralization and Transparency
One of the most significant impacts of the ASI merger is the emphasis on decentralization and transparency. Traditionally, Al’s development has been dominated by centralized entities like Google, Microsoft, and OpenAI. These organizations operate with little transparency, raising concerns about ethical issues and accountability.
2. New Opportunities for Collaboration
The merger of SingularityNET, Fetch.ai, and Ocean Protocol into ASI has opened up new avenues across different industries. By integrating various AI and blockchain technologies, the ASI ecosystem encourages cross-disciplinary projects, mergers, and partnerships. This can lead to innovative solutions and applications that were not previously possible.
3. Ethical Oversight and Accountability
The decentralized nature of the ASI ensures that the development of AI technologies is subject to ethical oversight. To ensure that a wide range of stakeholders are involved in the decision-making proces.
Conclusion
The merger of Fetch.ai, SingularityNET, and Ocean Protocol is poised to dramatically change the decentralized AI landscape. It will set a new standard for collaborative and ethical AI development and position ASI tokens among the top cryptocurrencies. Moreover, it paves the way for the future where AI technologies are developed in a more inclusive, transparent, and responsible manner.
