Fetch AI Merger Delayed: ASI Token Integration Rescheduled to July 15

• This Tuesday, the Super Artificial Intelligence Alliance announced a postponement of its planned merger date.
• The new ASI token, merging FET, AGIX, and OCEAN tokens, will now form on July 15.
• Humayun Sheikh, CEO of Fetch AI, emphasized technical and regulatory constraints leading to the delay.

The Super Artificial Intelligence Alliance has delayed its much-anticipated merger. Learn about the new ASI token and its implications for AI-based cryptocurrencies.

Recent Developments Impacting the AI-Centric Alliance

The Super Artificial Intelligence Alliance, involving blockchain developers from SingularityNET, Fetch AI, and Ocean Protocol, has rescheduled its merger to July 15. Initially planned for June 13, the delay stems from technical limitations and regulatory challenges.

Insights from Industry Leaders

Humayun Sheikh, CEO of Fetch AI and chairman of the Alliance’s board, stated, “We realized the need to delay the merger to ensure we meet the rigorous processes for our token holders.” Sheikh further mentioned that the group is collaborating with centralized exchanges to complete the remaining steps for the merger.

Market Reactions to the Postponement

Ben Goertzel, founder of SingularityNET and CEO of the alliance, described the postponement as a necessary move towards achieving a critical milestone. He further added, “Completing the three-way tokenomic merger by July 15 will be a significant step. We anticipate a series of increasingly exciting milestones as we leverage ASI for more capable AI systems.”

Impact on Related Tokens

The delay has elicited mixed reactions from the market. CoinGecko data shows a severe downturn in AI tokens, with general market value dropping by 8.7% today. Specifically, SingularityNET (AGIX) fell by 6.6% to $0.67, Fetch AI (FET) decreased by 7.4% to $1.58, and Ocean Protocol (OCEAN) dipped by 5.5% to $0.69. Over the past week, all three tokens have experienced a decline exceeding 20%, with Fetch AI down 25.8%, AGIX down 24.0%, and OCEAN down 23.5%.

Conclusion

The postponement of the Super Artificial Intelligence Alliance’s merger underscores the complex and evolving dynamics within the AI-focused blockchain sector. While the immediate market reaction has been adverse, the long-term potential of an integrated ASI token remains promising. Investors should perform their own due diligence as they navigate these challenging yet exciting times.