- The CEO of Fetch.ai (FET), an artificial intelligence-focused crypto platform, assures that the planned token merger will proceed despite Coinbase’s lack of support.
- Humayun Sheikh, Fetch.ai’s chief, affirmed on social media platform X that the AI token merger involving FET, Ocean Protocol (OCEAN), and SingularityNet (AGIX) remains on schedule.
- He emphasized that centralized exchanges need not delist or relist FET, and reassured stakeholders that they are addressing concerns diligently.
The upcoming AI token merger between FET, OCEAN, and AGIX is progressing, with a robust support system, despite Coinbase’s announcement of non-involvement.
Fetch.ai’s Token Merger: What You Need to Know
Fetch.ai CEO Humayun Sheikh recently confirmed that the planned merger involving FET, Ocean Protocol (OCEAN), and SingularityNet (AGIX) will proceed as scheduled. Despite Coinbase, a leading US-based crypto exchange, choosing not to support the merger directly, the integration efforts are moving forward.
Addressing Coinbase’s Position on the Merger
Earlier this week, Coinbase communicated that it would not facilitate the token merger for users. Instead, users must initiate the process via custodial wallets independently. The exchange clarified that, while it won’t execute the migration of assets, users can utilize self-custodial wallets such as Coinbase Wallet to merge their tokens into the new entity, Artificial Superintelligence Alliance (ASI). Despite this, the merger has garnered significant backing from other quarters of the crypto community.
Goals and Phases of the Merger
The merger, first announced in March, aims to form the Artificial Superintelligence Alliance (ASI). This alliance is expected to revolutionize the creation, sharing, and utilization of AI technology. The first phase of this merger is set to commence on July 1st. According to Sheikh, there’s no need for FET holders to take any immediate action, as the token is already listed and active on various exchanges.
The Road Ahead for AI Token Holders
Despite the logistical concerns raised by some exchanges, Fetch.ai and its partners remain committed to an orderly and strategic integration. This merger underscores the growing importance of collaborative efforts in the AI and blockchain sectors. By combining the resources and expertise of FET, OCEAN, and AGIX, the new alliance is poised to offer groundbreaking advancements in AI applications.
Conclusion
In conclusion, the planned merger between Fetch.ai, Ocean Protocol, and SingularityNet marks a significant step forward in the fusion of AI and blockchain technologies. Despite Coinbase’s stance, the unwavering support from the community and other exchanges highlights the potential impact of this merger. As the countdown to July 1st continues, stakeholders are advised to stay informed and prepared for the forthcoming changes.
