SingularityNET, Fetch.ai, and Ocean Protocol are reportedly on the verge of merging their crypto tokens into a unified ASI token.
This potential consolidation could create an entity with a fully diluted value estimated at a staggering $7.5 billion, signaling a significant shift in the decentralized artificial intelligence (AI) market.
SingularityNET, Fetch.ai, Ocean Protocol Eye ASI Token
The trio of AI-crypto firms, known for their efforts in developing blockchain-based AI solutions, are in advanced discussions about this merger. Sources close to the negotiations reveal that an announcement could be made as early as March 27. Still, this is contingent upon the respective communities’ approval.
This strategic move aims to foster the development of a decentralized AI platform, a vision shared by all parties.
Despite the merger of their tokens into the ASI token, SingularityNET, Fetch.ai, and Ocean Protocol will maintain their operational independence. However, they will collaborate under the umbrella of the Superintelligence Collective. This new coalition will be led by Ben Goertzel, the founder and CEO of SingularityNET.
Meanwhile, Fetch.ai’s CEO, Humayun Sheikh, noted for his early investment in DeepMind before its acquisition by Google, will be the chairman of this emerging collective.
The convergence of these entities reflects the escalating race among AI-oriented platforms to pioneer decentralized AI technology. It is worth noting that decentralized AI seeks to democratize access to AI technologies. The goal is to move away from the control of tech giants like Alphabet and Microsoft and ensure that corporations do not solely prioritize shareholder interests.
The native tokens of SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) have seen a significant uptick following the announcement. AGIX, FET, and OCEAN surged 15%, 16%, and 30%, respectively, as investors anticipate further gains.
“It was the right decision to develop AI based indicator! It will keep pumping,” crypto analyst Yaroslav Krasko said.
Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024
The proposed merger of SingularityNET, Fetch.ai, and Ocean Protocol into the ASI token represents a bold step towards a more inclusive and decentralized future. It exemplifies the innovative spirit of the AI and blockchain sectors, highlighting the importance of collaboration.
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