Three of the leading players in the AI niche for crypto have agreed to merge their tokens into one, and become a huge AI powerhouse. $FET, $AGIX, and $OCEAN are to become $ASI (Artificial Superintelligence).
$FETCH, $AGIX, and $OCEAN merge to form super-alliance
According to a report on Bloomberg, SingularityNET (AGIX), Fetch.ai (FETCH), and Ocean Protocol (OCEAN), have agreed to merge their tokens into one, and thereby create an “Alliance” for decentralised artificial intelligence.
The merger is planned to start with Fetch.ai (the biggest of the three by market capitalisation) changing its ticker to $ASI (artificial superintelligence). This new token would have a supply of $2.63 billion $ASI, which would have a starting price of $2.82. Then, both $AGIX and $OCEAN would merge into $ASI at conversion rates of 0.433 to 1. The fully diluted market cap would amount to around $7.5 billion, and could take the alliance to a possible 20th position on CoinMarketCap.
Ocean Protocol posted the following tweet on its X account:
1/🤝Ocean Protocol, @Fetch_ai & @SingularityNET unite to create the Artificial Superintelligence Alliance, through a token merger into a single $ASI token with a combined value of USD$7.5 Billion, with a current ranking at ~#20 on #CoinMarketCap.Read on, anon! There’s more! pic.twitter.com/hIkZCjIi02
— Ocean Protocol (@oceanprotocol) March 27, 2024
An alternative to big corporation’s AI grab
Fetch.AI CEO Humayun Sheikh was quoted by the Bloomberg report in a recent interview. He said of the merger:
“We wanted to build one of the world’s first open and decentralized networks which actually enables AGI (artificial general intelligence) to be in reach of all the stakeholders which provide support to building the network.”
He continued:
“It’s an alternative to the big corporations which exist and are controlling the AI space. It’s open source and is decentralized and has all the tools to build artificial intelligence.”
The Fetch.ai blog explains the reasoning behind the merger as mainly a big effort towards decentralisation, as a response to the big tech take-over and centralisation of AI resources.
According to the blog, the new alliance would be open to accepting other partners, as long as their “ethos and mission” aligns with that of the three founding partners.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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