Leading decentralized AI assets such as Fetch.ai (FET), SingularityNET, and Ocean Protocol announced that they plan to complete the Artificial Superintelligence Alliance (ASI) merger by June 2024.
This merger will combine the native tokens of these AI-focused protocols under the ASI token with a total supply of 2.63 billion tokens. This move will position ASI as the AI industry's largest open-source, decentralized network. As of May 29, the market cap of the new token is $5.8 billion.
FET token holders can switch to ASI via a token migration contract until June 11. Similarly, SingularityNET’s AGIX and Ocean Protocol’s OCEAN token holders can swap their tokens until June 13.
Starting June 11, $FET will be rebranded as $ASI with a total token supply of 2.63 billion. Token holders can begin exchanging their $FET for new $ASI tokens at a 1:1 ratio.
$AGIX token holders can move them to $ASI via a secure bridge with a conversion rate of 0.433226:1. Similar to $AGIX, users can move $OCEAN tokens to $ASI via a bridge with a conversion rate of 0.433226:1.
The merger, which will be completed three months after the initial proposal, is designed to accelerate AI growth, accelerate investment in Artificial General Intelligence (AGI), and challenge the dominance of Big Tech companies in AI technology development and commercialization.
The merger aims to accelerate the scaling of decentralized AI infrastructure, creating an open, scalable AI ecosystem using blockchain for ethical and trustworthy AI development and deployment.
Ben Goertzel, CEO of the ASI Alliance, called the merger a significant moment for AI. He stressed that the alliance will make significant progress by combining the strengths of the three platforms. Goertzel said:
“This is just the beginning of a broader movement to bring together the forces working towards beneficial decentralized AGI and superintelligence. The ASI token is a symbol and a practical tool to enable us to move quickly and effectively towards a great future for all using advanced AI, blockchain, and decentralized governance.”
Humayun Sheikh, CEO and Founder of Fetch.ai and Chairman of ASI added:
“With our newfound economies of scale, the Alliance can make real progress in changing the way Big Tech controls the narrative and direction of AI. We have a long way to go, but this first step provides a foundation for others with a similar mission to make a difference.”
With the completion of the token merger, the ASI Alliance is poised to accelerate the commercialization of AI technologies and facilitate access to advanced AI platforms and datasets, paving the way for the next wave of AI innovation.$BNB $BTC $BTC #BinanceHerYerde
