• SingularityNET, Fetch.ai, and Ocean Protocol are discussing a merger.

  • The AI platforms may consolidate their tokens into an ASI token with a $7.5 billion cap.

  • This move has propelled OCEAN to a daily high of $1.65 following a dramatic 30% rally.

Three artificial intelligence firms utilizing blockchain technology are discussing a merger for their various crypto assets. Bloomberg captured details of the discussion in a recent report, citing sources familiar with the situation.

Specifically, the report cited that SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) are in talks to consolidate their tokens into a singular ASI token. The consolidated token is expected to have an estimated fully diluted value of approximately $7.5 billion. 

The prospective deal, due for announcement soon, is contingent upon each company’s communities’ approval. These details were shared by individuals privy to the matter who preferred anonymity due to the sensitive nature of the information.

Notably, SingularityNET, Fetch.ai, and Ocean Protocol would maintain their autonomy. However, according to sources, they would engage in collaborative efforts overseen by a collective known as the Superintelligence Collective, led by Ben Goertzel, the founder and CEO of SingularityNET. Additionally, Humayun Sheikh, CEO of Fetch.ai and an initial investor in DeepMind, the AI company acquired by Google in 2014, would assume the role of chairman.

Meanwhile, this rumor about merging the three prominent AI-based tokens has sparked significant bullishness for each token. According to CoinMarketCap data, OCEAN has witnessed a 346.93% surge in its 24-hour trading volume, with the market cap growing 31.03% to $891 million. This has propelled OCEAN to a daily high of $1.65 amid an over 30% gain in the last few hours.

Ocean daily chart | CoinMarketCap

Similarly, FET has recorded an over 15% surge within the past few hours, putting its price at $3.2. A comparable dramatic uptrend is also observable for the AGIX token.Notably, these discussions coincide with significant investments by tech giants like Alphabet and Microsoft into AI. Accordingly, emerging crypto-based AI platforms like SingularityNET, Fetch.ai, and Ocean Protocol are in a race to pioneer decentralized AI technology on blockchain.

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