Following a decisive community vote, three prominent AI-related cryptocurrency tokens are poised to merge, as sanctioned by the Artificial Superintelligence Alliance. The newly approved ASI token will integrate Fetch, AI’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN into a unified digital asset. The merger, expected to be finalized in May, is projected to elevate the collective value of the new ASI coin to $7.5 billion.
Humayun Sheikh, the chairman and CEO of AI, emphasized that despite the integration, each project will retain its autonomy. The Artificial Superintelligence Alliance board members will retain exclusive authority in selecting new members, ensuring independence for the integrated entities. Sheikh highlighted that the projects will maintain their decision-making processes while synergizing their technologies to operate cohesively.
In addressing community concerns, Sheikh proposed resolving issues through elections, with only designated key voters eligible to participate. The overarching objective is to establish ASI as an AI system that facilitates genuine decentralization in development and deployment.
The recent proposal from the Artificial Superintelligence (ASI) Alliance garnered unanimous approval from the majority of AGIX token holders, marking a pivotal moment in establishing the largest open-source decentralized network dedicated to advancing technological progress. This significant decision underscores the commitment to accelerating growth within the AI sector.
The collaborative efforts of Fetch.AI, SingularityNET, and Ocean Protocol culminated in the formation of the Superintelligence Alliance, with a primary focus on advancing artificial general intelligence (AGI) and enhancing access to AI models and databases. Dr. Ben Goertzel, the founder and CEO of SingularityNET, articulated the shared vision of democratizing AGI and ASI deployment in an open and decentralized manner, aiming to counterbalance the dominance of major tech corporations in the AI landscape.
Amidst fluctuations in the cryptocurrency market, FET is currently valued at \(2, mirroring the broader industry trends. AGIX and OCEAN have experienced declines, with AGIX dropping by 19.7% to \)0.85 and OCEAN decreasing by 20.7% to $0.88 over the past week. Following the merger, FET will be rebranded as ASI, with a revised total supply of 2.63 billion tokens. AGIX and OCEAN will undergo a conversion process to transition into the new ASI token at rates of 0.433350-to-1 and 0.433226-to-1, respectively.
Holdings of AGIX and OCEAN in self-custody wallets will be eligible for conversion to ASI post-merger, while FET tokens will seamlessly transform into the rebranded asset. The Superintelligence Alliance has outlined plans for the immediate conversion of AGIX and OCEAN held on crypto exchanges to the new ASI token. The Alliance also advised against attempting to trade the legacy tokens once the conversion process is complete.
Bruce Pon, the founder and CEO of Ocean Protocol, expressed enthusiasm for the approved consolidation, signaling a positive outlook for the collaborative venture. The impending transition to ASI marks a significant milestone for the Fetch and SingularityNet communities, setting the stage for a new era of innovation and growth in the AI cryptocurrency domain.
Edited by Andrew Hayward
