Major AI Crypto Tokens Merge into ASI

The Artificial Superintelligence Alliance has announced a successful community vote leading to the merger of three leading AI-related crypto tokens into a single new digital asset named ASI. This new token combines Fetch.AI’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN, creating a powerhouse with an anticipated total value of $7.5 billion.

Fetch.AI CEO and Chairman of the Alliance, Humayun Sheikh, emphasized that while the individual projects would retain their distinct identities, the overarching goal is to unite their technologies under the ASI banner. This strategic alignment is intended to foster true decentralization in the development and deployment of AI technologies, with community disputes being resolved through token staker votes.

The creation of the Superintelligence Alliance back in March was the first step towards this ambitious integration, aimed at accelerating the development of artificial general intelligence (AGI) and broadening access to AI models and databases. “Our joint vision has always been to roll out AGI and ASI in an open, democratic, and decentralized manner,” noted Dr. Ben Goertzel, founder and CEO of SingularityNET.

Despite the broader market downturn, which saw significant declines in the values of FET, AGIX, and OCEAN over the past week, the merger is poised to redefine the landscape. Post-merger, FET will be rebranded as ASI with a new total token supply set at 2.63 billion. AGIX and OCEAN tokens will convert to ASI at specified rates, with provisions made for tokens held in both self-custody wallets and on cryptocurrency exchanges.

The conversion process is designed to be seamless for token holders, with automatic transitions on exchanges and clear guidelines for tokens in self-custody. The retirement of AGIX and OCEAN tickers will mark the end of their journeys, as they fully transition into the new ASI token.

Bruce Pon, founder and CEO of Ocean Protocol, expressed enthusiasm about the merger’s approval, highlighting the community’s support and the potential for future developments under the ASI banner.

As this merger unfolds, it represents not only a significant technical and financial shift but also a cultural one, as it challenges the dominance of Big Tech in the AI space. This move could herald a new era of innovation, driven by a community-focused approach to technology governance and development.