On March 27 Ocean Protocol, Fetch.ai, and SingularityNET announced that the three companies have agreed to merge and form an Artificial Intelligence alliance that is not controlled by big tech companies. In addition, the three companies will merge their current tokens in order to offer one artificial intelligence token to users and investors alike.
This development marks an important intersection as the AI revolution is happening in the cryptocurrency world and interest among investors is also increasing as they try to invest in the best AI coin type. Hyunsoo Kim explains that AI crypto is a relatively new concept that combines artificial intelligence with blockchain technology. So, the joining of these three companies could not have come at a better time as AI continues to transform the crypto sector.
The AI revolution is bringing in a lot of positive changes and many people are using AI tools like ChatGPT in their daily lives to simplify various tasks and solve simple problems. However, other people are worried that big companies like Apple, Microsoft, Amazon, Alphabet, and Meta might end up having too much control over AI. This worry has pushed other companies dealing with blockchain and Web3, like Fetch.ai, SingularityNET, and Ocean Protocol, to step up and offer an alternative where data is open and shared among everyone involved.
The three giants have agreed to combine their respective cryptocurrency tokens into one, to form an alliance that focuses on improving AI that does not need a central authority. This groundbreaking merger has given rise to the Artificial Superintelligence Alliance (ASA). This unique collaboration is the first of its kind and will form the largest open-sourced, decentralized network. By working together, these platforms aim to skip the middlemen to create AI systems that are fair, and open and will allow direct communication between developers and users. Such a development is important as many people are concerned about safety in the cryptocurrency world.
The three companies aim to create a decentralized Artificial General Intelligence (AGI) that empowers the general public; instead of an AI system that benefits a few selected individuals with biassed interests. By taking advantage of each partner’s strength they can speed up progress in AI research and application. The partnership will combine expertise from each company to lessen the control that large tech companies have in the field of AI. The result is practical and useful AI tools for businesses that can be used to benefit humanity. The Superintelligence Alliance exists to give people the freedom of choice to own and control their data and AI, and to respect each person’s independence. This has never been more important and is a guiding principle of the Alliance.
The three companies joining forces will merge their individual tokens into one token known as the ‘Artificial Intelligence’ token, with the token ticker $AS. FET, the native token fetch.ai, will have a total sum of 2.63 billion of these tokens, which will be worth $2.82 each as a starting price. The tokens from the two other platforms, AI network SingularityNET (AGIX) and data platform Ocean Protocol (OCEAN) will also join ASI, with exchange rates of about 0.433 to 1. So, ASI is going to be a big deal with a total value of around $7.5 billion. With a community of over 250,000 wallets and more on exchanges, the future looks promising.
Fetch, Ocean Protocol, and SingularityNET also announced that they will make a website soon for the Alliance, but each business will remain separate legally. The leaders, teams, communities, and money for each project will stay the same as before the merger. Whatever plans they have in progress will keep going, and if anything changes for one of the groups, they’ll let everyone know through official channels.
