Fetch.ai, SingularityNET, and Ocean Protocol Unite to Create AI Super Token

Three leading decentralized platforms, Fetch.ai, SingularityNET, and Ocean Protocol, have announced their intention to merge their crypto tokens into a single entity, dubbed ASI, or "artificial superintelligence."

by Faruk Imamovic
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Fetch.ai, SingularityNET, and Ocean Protocol Unite to Create AI Super Token
© Getty Images/Jack Taylor

Three leading decentralized platforms, Fetch.ai, SingularityNET, and Ocean Protocol, have announced their intention to merge their crypto tokens into a single entity, dubbed ASI, or "artificial superintelligence." This strategic alliance aims to forge a new path for decentralized artificial intelligence (AI), offering an alternative to the conventional projects dominated by the tech giants.

The Birth of ASI

At the core of this alliance is the creation of the ASI token, a symbol of unity and shared vision among the three platforms. Fetch.ai's native token, FET, will transform into ASI, bringing together a total supply of approximately 2.63 billion tokens, with an initial price set at $2.82.

Similarly, the native tokens of SingularityNET (AGIX) and Ocean Protocol (OCEAN) will be absorbed into ASI, adhering to a conversion rate that promises equitable value for all parties involved. The inception of ASI, boasting a fully diluted market cap of around $7.5 billion, marks a significant milestone in the journey towards a decentralized AI infrastructure.

This merger is not merely a financial arrangement but a strategic endeavor to democratize AI technology. By consolidating their resources, the three companies aim to establish an open, decentralized AI ecosystem that stands in stark contrast to the opaque and centralized systems currently in place.

The vision is clear: to ensure that the development and benefits of AI technology are accessible to all, free from the grasp of Big Tech monopolies.

A Response to Big Tech's Dominance

The initiative arrives amidst growing concerns over the monopolistic tendencies of tech behemoths like Microsoft, Alphabet (Google's parent company), Amazon, Apple, and Meta (formerly Facebook), which threaten to overshadow the AI landscape.

The recent surge in interest in AI technologies, spearheaded by innovations such as ChatGPT, has highlighted the need for alternative models that prioritize transparency and communal collaboration over corporate control.

The proposed alliance and the creation of ASI reflect a collective effort to counteract the emerging oligarchy in the AI sector.

By leveraging blockchain technology, the partners aspire to foster a more transparent and inclusive environment where data and advancements in AI are openly shared and contributed by a diverse community.

Moving Forward Together

While the announcement has sparked excitement within the decentralized AI and blockchain communities, details about the merger's implementation and the operational dynamics of the ASI token remain sparse.

The companies involved have yet to release official statements or detailed plans regarding the merger, leaving many eagerly anticipating further developments.

Despite the lack of concrete information, the proposed alliance has been met with optimism.

Industry experts and enthusiasts alike recognize the potential of such a collaboration to redefine the landscape of AI development. Under the leadership of figures like Ben Goertzel of SingularityNET and Fetch.ai's Humayun Sheikh, the initiative promises to pave the way for an AI future that is not only technologically advanced but also ethically grounded and democratically governed.

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