The merger of three large decentralized AI projects will form the Artificial Superintelligence Alliance with the native token ASI, which will be capitalized at $7.5 billion.
AI protocol communities Fetch.ai, SingularityNET, and Ocean Protocol approved the merger under the Artificial Superintelligence Alliance (ASI). The merger will be finalized in the coming weeks. Humayun Sheikh, CEO of Fetch.ai, will be the organization’s chairman.
According to a press release, the purpose of forming the Artificial Superintelligence Alliance is to create a large-scale decentralized infrastructure to develop AI technologies. The merger is expected to increase the flow of investment in artificial general intelligence (AGI), facilitate the commercialization of cutting-edge AI developments, and simplify access to AI platforms and large databases for developers and users.
Currently, three critical areas of focus for the Artificial Superintelligence Alliance include:
- deploying AI agents for commercial use;
- developing large language models;
- sharing artificial intelligence data.
The Alliance will merge the native tokens of the protocols that joined the organization. The basis of the new token will be FET, the native token of Fetch.ai, which will be converted to ASI at a 1:1 ratio. AGIX and OCEAN tokens will be converted to ASI with an approximate ratio of 0.43:1. The total value of ASI tokens after the merger will be $7.5 billion. ASI tokens are expected to become available on May 24.
Dr. Ben Goertzel, Founder and CEO of SingularityNET, said the launch of ASI tokens strengthens the Alliance’s ability to challenge large tech companies to control AI. Bruce Pon, Founder and CEO of Ocean Protocol, welcomed the community’s decision and expressed high hopes for the project’s future.
AI technologies play an increasingly significant role in various areas. Analysts at JPMorgan believe that developments based on artificial intelligence in the next three years will significantly impact crypto trading. A little earlier, Moody’s Investors Service analysts shared a report stating that DLT and AI will radically transform the economy in the foreseeable future.
