Bittime – Three leading artificial intelligence (AI) companies, SingularityNET, Fetch.ai, and Ocean Protocol, are in serious talks to merge their crypto tokens.
The move aims to develop a centralized AI platform, with plans to combine AGIX, FET, and OCEAN tokens into an ASI token that has a fully diluted value of around $7.5 billion, according to sources close to it.
Towards a Centralized AI Platform: AGIX, FET, and OCEAN Tokens Merged into ASI Token
Artificial intelligence-related companies SingularityNET, Fetch.ai, and Ocean Protocol are in discussions to merge their tokens into the ASI token, as reported by Bloomberg on March 27.
This blockchain-based AI platform aims to develop a centralized AI platform amidst increasingly fierce competition in the AI realm. The fully diluted value of ASI tokens is estimated at around $7.5 billion.
According to close sources, the deal could be announced on Wednesday and requires approval from members of each community.
SingularityNET, Fetch.ai, and Ocean Protocol will continue to operate as separate entities. However, they will collaborate under the Superintelligence Collective led by SingularityNET CEO Ben Goertzel. Fetch.ai CEO Humayun Sheikh will serve as chairman.
Check Today's Crypto Market:
AGIX, FET, and OCEAN Prices Soar
AGIX price has jumped nearly 15% in the last 24 hours, with the price currently sitting at $1.38. At the same time, the lowest and highest prices in the last 24 hours were $1.16 and $1.38 respectively. Trading volume has also increased by 40% in the last 24 hours, indicating increased interest among traders.
FET prices also rose, with an increase of more than 15% to $3.28. The lowest and highest prices in the last 24 hours were $2.81 and $3.31 respectively.
Meanwhile, OCEAN's price experienced a significant increase of 38% in the last 24 hours, with most of the increase occurring after news of the merger emerged. OCEAN's price is currently at $1.66.
Super Artificial Intelligence Alliance Mission
The field of AI is growing rapidly. The presence of the latest Large Language Model (LLM) has triggered a surge in innovation. Startups, decentralized projects, and large multinational companies need to adapt to these changes.
Artificial General Intelligence (AGI) now feels closer. At this rate of development, we may be able to go beyond AGI and go straight to Artificial Superintelligence (ASI). The ASI system surpasses human capabilities in various aspects and operates with all human knowledge.
However, the extraordinary benefits of breast milk should not be controlled by a few parties but should be decentralized. Fetch.ai, SingularityNET, and Ocean Protocol are experienced teams in the field of decentralized AI. We are committed to building open, useful AI, and working to move away from centralized corporate monopolies.
Together, we want to provide an alternative for researchers, companies, and governments in the field of AI. This alternative would not confine them to a closed realm, lean towards certain biases, or risk being de-platformed by service providers or losing their intellectual property, social networks, and followers.
To win this competition, enormous resources are required. The required solutions must be vertically integrated across the entire technology stack, including infrastructure such as data management, AI agents and models, and prediction.
This alliance brings together the expertise and experience of each company to pursue ASI achievements, including:
- Advanced autonomous AI agents and blockchain infrastructure from Fetch.ai
- SingularityNET's rich research and development (R&D) heritage in AI development and integration
- Data sharing and monetization opportunities from Ocean Protocol
$ASI Token: Symbol of Unity
By uniting, these three companies will combine their respective tokens into a universal 'Artificial Intelligence' token, with the ticker symbol $ASI.
The combined value of the Alliance at the signing of the deal was $7.5 Billion (theoretically ranked #20 on Coinmarketcap) with 2.631 Billion tokens and an initial price of $2.82 (using $FET as the reference currency).
Currently, there are 225,000 wallet owners for the $FET, $OCEAN, and $AGIX tokens, and hundreds of thousands more who store their tokens on crypto exchanges. These three projects combined will create one universal decentralized AI token, $ASI.
Also Read: AGIX Price Prediction: Will SingularityNET Continue to Skyrocket?
Leader in Decentralized AI
Fetch.ai, SingularityNET, and Ocean Protocol have established their presence in the decentralized AI space over the past seven years. Their founders have even dedicated decades to the advancement of AI.
SingularityNET was founded and led by the "Father of AGI" Dr. Ben Goertzel, on a mission to create AGI that is decentralized, democratic, inclusive, and beneficial. Fetch.ai was founded by DeepMind veteran and founding investor Humayun Sheikh.
Ocean Protocol was co-founded by Trent McConaghy, who previously built the AI-based software that every chip designer uses to drive Moore's Law.
This merger facilitates the collaboration of three thought leaders in AGI research and development. This alliance raises questions about when and how AGI and ASI can be achieved, not “will it?” The answer lies in decentralization.
Towards an Open and Equal AI Future
The Super Artificial Intelligence Alliance is a form of resistance to the tech giants' control over technology. We come together to change the way AI is created, shared, and used by everyone, relying on the principles of decentralization to achieve an open and equitable form of AI.
This is our ambitious first step in creating decentralized AGI and ASI. This merger allows us to compete with leading centralized entities.
We will continue to seek opportunities to develop the Super AI Alliance with other partners who align with our ethos and mission.
Super AI Alliance Core Principles: Building a Better Future
There are 4 principles of the AGIX, FET, and OCEAN alliance project. The following is the explanation
1. Ensure the benefits of breast milk
We are committed to creating decentralized Artificial Super Intelligence (ASI) that benefits humanity and is inclusive.
2. Focus on Current and Future Needs
While we have a long-term vision for ASI development, we remain committed to delivering decentralized AI tools that are practical and useful for businesses and users today.
3. Democratization of Access to Computing Resources
The foundation of AI, including AGI and ASI, relies on powerful computing capabilities. We seek to use the scale of the $ASI token to secure needed computing resources, including advanced silicon and energy, in a decentralized manner.
This approach not only supports the continued growth of AI but also democratizes access to this critical resource.
4. User Freedom and Sovereignty
The Super AI Alliance was founded to give users the freedom to choose, own, and control their data and AI. We uphold the autonomy and sovereignty of each individual. This principle is very important today and is the main guideline of the Alliance.
Also read How to Buy Crypto:
Alliance Structure and Governance
The following is the alliance structure and governance of these three giant tokens.
1. Independence is maintained
A joint website for the Alliance will be launched soon. However, the three legal entities underlying this alliance, namely Fetch.ai, Ocean Protocol, and SingularityNET, will continue to operate independently.
Existing leadership, team, community, and token ownership will also remain unchanged.
2. Cooperation and Collaboration
Every ongoing initiative of each project will continue as planned. Any changes regarding the services or offers of each entity will be announced through official channels.
However, as time goes by and collaboration between teams increases, it is hoped that joint projects and collaborations will emerge.
This could be internal development to strengthen the overall product offering and improve the user experience, or external collaboration to deliver better marketing services to corporate customers and large enterprises.
3. Flexible Membership
Each entity in the Alliance has the freedom to determine the next steps in advancing the values and adoption of decentralized AI. There is no coercion or pressure to force other Alliance members to follow certain directions. Community members are free to join and leave the Alliance at any time.
4. Board of Directors
To handle the governance of the Alliance, a management board will be formed. The composition of the management board is Humayun Sheikh from Fetch.ai as Chairman, Dr. Ben Goertzel of SingularityNET as CEO, and Trent McConaghy and Bruce Pon of Ocean Protocol.
5. Token Merging Process
Token mergers will be based on majority approval from the community. The three companies will submit governance proposals to their respective communities. Voting will open on April 2.
If successful, a token merge will begin, with $FET, $AGIX, and $OCEAN merging into $ASI.
By joining forces, Fetch.ai, SingularityNET, and Ocean Protocol hope to accelerate the development of useful, decentralized artificial intelligence.
The combination of expertise, resources, and community they share is expected to have a significant impact on the future of AI.
Also Read: Fetch.AI (FET) Token Price Soars 360% and Reaches Record High!
Conclusion
This token merger plan sparked debate. Some argue that this step can strengthen the competitiveness of these companies in the ever-growing AI space.
However, the concept of a centralized AI platform raises questions about decentralization, which has long been a key principle of blockchain technology.
Will this token merger be the right move? Let's monitor the further developments of this discussion.
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