Three of the leading blockchain-based artificial intelligence (AI) projects, Fetch.ai (FET) gaining, SingularityNET (AGIX) , and Ocean Protocol (OCEAN) have proposed a merger of their different tokens into one, known as Artificial Superintelligence (ASI).
The merger known as “Artificial Superintelligence Alliance,” will bring about the merging of these projects’ tokens to become Artificial Superintelligence (ASI). Through this deal, the three AI giants wish to create the largest open-sourced, independent player in AI research and development, they said in a statement.
They also intend to take advantage of the rise of AI and growth of the three AI projects to create a decentralized infrastructure that will accelerate investment into AI.
“We can deliver on the promise of a vertically integrated stack of decentralized technologies while gaining scale to compete globally. The combination of our technologies creates a leader in R&D, applications and commercialization of AGI,” Bruce Pon, Ocean Protocol CEO and co-founder, said.
“The unified ASI token is the glue to orchestrate all actors with common incentives. ASI tokens are used to secure the public network, as data access tokens and to unlock computation without needing traditional banking and payment rails. It’s the native currency for the machine economy,” he added.
The Rise of AI Technology
There has been a sudden surge in the use of AI technology in many fields, crypto not the least. This is how Fetc,ai, Singularity, and Ocean Protocol came about. Another key area in crypto where AI applies is in automated crypto trading using AI crypto trading bots like PROFIT REX.
The three projects will submit integration proposals to the respective governance communities today for a 14-day consultation period starting today. If approved, FET will become ASI with a total supply of 2.63 billion tokens and a starting price of $2.82. AGIX and OCEAN will migrate to ASI at a conversion rate of 0.43335 to 1 and 0.433226 to 1, respectively.
Also commenting on the merger, Fetch.ai CEO Humayun Sheikh Said “In a world of exploding AI innovation, the giants of Big Tech dominate the headlines and conversations. We’re forging a different path. Our mission is to combine our platforms to ensure ethical and transparent artificial intelligence to decentralize AI.”
The Organization’s Leadership
The three companies, if successfully merged, will have SingularityNET founder Dr. Ben Goertzel as CEO, Fetch.ai founder Humayun Sheikh as Chairman, and Bruce Pon and Trent McConaghy representing Ocean Protocol.
While the three companies will still operate on their own as separate entities even after the merger, they will continue to “collaborate closely in the shared ASI tokenomic ecosystem and the operation of the Superintelligence Collective,” the teams said.
