The ASI token merger, uniting Fetch.ai, SingularityNET, and Ocean Protocol, is set to reshape the AI crypto landscape in May.
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The Artificial Superintelligence Alliance has confirmed the upcoming ASI token merger for early May, an event that will see the unification of the tokens FET, AGIX, and OCEAN into ASI. The merger follows the approval from the communities of Fetch.ai, SingularityNET, and Ocean Protocol.
The approved merger will result in FET converting to ASI with a total supply of 2.63055 billion tokens. AGIX and OCEAN will migrate to ASI at conversion rates of 0.433350 to 1 and 0.433226 to 1, respectively. With a projected market capitalization of $7.5 billion, the ASI token is expected to enter the top 20 largest cryptos.
“We’re thrilled to announce the successful conclusion of the token merger voting process,” said Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai. “This marks the beginning of a new chapter in AI development, where our collective efforts will drive progress towards decentralized AGI and ASI. Our mission is to create a decentralized AI infrastructure at scale, ensuring ethical and trustworthy practices. By combining our platforms, we empower developers and users alike, fostering a more democratic and transparent AI ecosystem.”
The alliance aims to democratize AI infrastructure, challenging the dominance of Big Tech in AI development and monetization.
“Our joint vision has always been to roll out AGI and ASI in an open, democratic, and decentralized manner,” emphasized Dr. Ben Goertzel, founder and CEO of SingularityNET. “The token merger brings us closer to that goal and strengthens our ability to challenge Big Tech’s control over AI.”
On top of the fundamental aspect, AI was one of the most profitable crypto narratives in Q1. A recent CoinGecko report shows that AI tokens registered an average profit of 222%, as reported by Crypto Briefing.
“We’re glad that the Fetch and SingularityNet communities have cleared this hurdle and approved the token merger. We’re excited to get started,” concluded Bruce Pon, Founder and CEO of Ocean Protocol.
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