- ASI Token Merger Approved by the communities of Fetch.ai, SingularityNET, and Ocean Protocol
- The merger will combine FET, AGIX, and OCEAN into ASI, expected to become one of the top 20 largest cryptocurrencies by market capitalization
- The merger aims to create a decentralized AI infrastructure, enabling ethical and democratic AI development, and challenging the dominance of Big Tech in AI
Fetch.ai, a leading decentralized artificial intelligence (AI) company, has announced the approval of its merger with SingularityNET and Ocean Protocol to form the Artificial Superintelligence (ASI) Alliance. This merger will combine the FET, AGIX, and OCEAN tokens into a new ASI token, creating one of the largest cryptocurrencies by market capitalization.
Background on the ASI Alliance
The ASI Alliance brings together three influential companies in the decentralized AI space – Fetch.ai, SingularityNET, and Ocean Protocol. Together, they aim to accelerate AI research and development while challenging the dominance of Big Tech.
Some key goals of the alliance include:
- Driving progress towards decentralized artificial general intelligence (AGI) and ASI
- Creating a decentralized AI infrastructure to ensure ethical and trustworthy practices
- Empowering developers and users by making AI platforms and data more accessible
Voting Results
The token merger has received overwhelming support, with majority approval from the Fetch.ai, SingularityNET, and Ocean Protocol communities.
The voting results pave the way for the merger to proceed as planned:
- The FET token will become ASI, with a total supply of 2.63 trillion tokens
- AGIX tokens will migrate to ASI at a ratio of 0.433350 AGIX to 1 ASI
- OCEAN tokens will migrate to ASI at a ratio of 0.433226 OCEAN to 1 ASI
Reactions from Leadership
Leaders of the three merging companies welcomed the successful conclusion of the voting process.
Humayun Sheikh, CEO of Fetch.ai, said the merger “marks the beginning of a new chapter in AI development.”
Dr. Ben Goertzel, CEO of SingularityNET, said it “brings us closer to that goal and strengthens our ability to challenge Big Tech’s bid for control over AI.”
Bruce Pon, CEO of Ocean Protocol, expressed excitement to move forward.
Next Steps
With majority approval secured, the token merger is expected to begin in the coming weeks. This consolidation will position the ASI token among the top 20 largest cryptocurrencies.
The merger represents a milestone for the AI community. By combining forces, the ASI Alliance aims to accelerate decentralized AGI development and create an ethical ecosystem for AI.
