- The cryptocurrency world is abuzz with the latest announcement of a major merger in the AI sector.
- This merger involves Fetch.ai, SingularityNet, and Ocean Protocol, three prominent players in the AI and blockchain space.
- Dubbed “The Superintelligence Alliance,” this collaboration aims to revolutionize the AI industry by creating a unified token, the Artificial Superintelligence token ($ASI).
Discover the groundbreaking merger of Fetch.ai, SingularityNet, and Ocean Protocol into The Superintelligence Alliance, and what it means for the future of AI and blockchain technology.
The Formation of The Superintelligence Alliance
On March 27, 2024, Fetch.ai, SingularityNet, and Ocean Protocol announced their merger to form The Superintelligence Alliance. This strategic alliance aims to create the largest independent AI research and development entity. The merger will result in the creation of a single token, the Artificial Superintelligence token ($ASI), which will unify the tokens of these three projects.
Mission and Vision of The Superintelligence Alliance
The alliance emphasizes the importance of decentralized AI technologies and aims to prevent the control of AI advancements by a select few. The collaboration will leverage the strengths of each project: Fetch.ai’s expertise in autonomous AI tools and blockchain infrastructure, SingularityNet’s rich R&D background in AI development and integration, and Ocean Protocol’s capabilities in data sharing and monetization. Together, they aim to create a robust and decentralized AI ecosystem.
Understanding the ASI Token
The ASI token will serve as the unified token for the alliance. Initially, FET will be the reserve token, which will later be converted to ASI on a 1:1 basis. This rebranding will bring several changes, which will be detailed further in the article.
Token Conversion Process
If you hold FET tokens on a centralized or decentralized exchange, they will automatically convert to ASI tokens. For tokens held offline, a swap mechanism will be established to facilitate the conversion. Similarly, OCEAN and AGIX tokens will also be converted to ASI tokens, albeit at different conversion rates. Each OCEAN token will convert to 0.433226 ASI, and each AGIX token will convert to 0.433350 ASI. A dedicated website will be available to calculate the conversion amounts.
Merger Implementation and Token Distribution
The merger will result in the issuance of 1.48 billion new ASI tokens, with 867 million allocated to AGIX holders and 611 million to OCEAN holders. This will bring the total supply of ASI tokens to 2.63 billion. The new governance structure will include Humayun Sheikh from Fetch.ai as President, Ben Goertzel from SingularityNET as CEO, and Trent McConaghy and Bruce Pon from Ocean Protocol as the management council.
Potential Market Impact and Valuation
The combined Fully Diluted Value (FDV) of the three projects is approximately $6.05 billion. Based on this FDV, the initial price of the ASI token is estimated to be around $2.0719. This valuation places the ASI token between Litecoin (LTC) and Internet Computer (ICP) in market cap rankings. While mergers typically do not guarantee immediate price increases, the unified strength and focused demand could drive positive market sentiment.
Conclusion
The merger of Fetch.ai, SingularityNet, and Ocean Protocol into The Superintelligence Alliance marks a significant milestone in the AI and blockchain sectors. By unifying their resources and expertise, they aim to create a decentralized and powerful AI ecosystem. The success of this alliance will depend on the effective integration of their technologies and the development of innovative AI solutions. As the merger progresses, stakeholders and investors should stay informed about the latest developments and potential market impacts.
