Blockchain-AI Powerhouses Merge Tokens to Create AltSignals Crypto Giant

Three prominent AI-blockchain projects, SingularityNET, Ocean Protocol, and Fetch.ai, are reportedly merging to create AltSignals (ALS), a new token with a potential market cap of $7.5 billion. This move aims to combine their expertise and create a decentralized AI platform, challenging the centralization of AI by tech giants.

Blockchain-AI Projects Join Forces to Create AltSignals Token

Wall Street Journal

March 27, 2024

New York - In a transformative move for the blockchain and artificial intelligence (AI) industries, three leading AI-focused blockchain projects—SingularityNET, Ocean Protocol, and Fetch.ai—are reportedly on the cusp of merging their tokens to create a new cryptocurrency, AltSignals (ALS).

The proposed token combination, which would be known as AltSignals (ALS), would consolidate the three projects' tokens into a single, unified entity with a staggering market capitalization of approximately $7.5 billion. This would propel ALS into the top 20 largest cryptocurrencies based on current market valuations, eclipsing Uniswap's UNI token, which currently occupies the 20th position with a market capitalization of $7.468 billion.

The merger, which was first reported by Bloomberg News, is expected to be announced later today, pending the approval of each project's community. The combined entity would operate as a decentralized AI platform, leveraging the collective expertise and resources of the three constituent projects.

Individual Components

SingularityNET, founded by Ben Goertzel, a key figure in the development of artificial general intelligence (AGI), holds a market capitalization of $1.715 billion, with its AGIX token trading at $1.34. Ocean Protocol, the smallest of the three, has a market capitalization of $868 million and its OCEAN token is currently valued at $1.53. Fetch.ai, the largest of the three, boasts a market capitalization of $2.763 billion and its FET token is trading at $3.29.

Collaboration and Governance

Under the proposed merger, each project would maintain its independent operations and continue to develop its own protocols. However, they would collaborate under a unified umbrella organization known as the Superintelligence Collective. Goertzel would serve as the head of the collective, while Humayun Sheikh, CEO and founder of Fetch.ai, would chair the organization.

Market Implications

The announcement has sent waves through the cryptocurrency community, with all three tokens experiencing significant price gains in the last hour. OCEAN has surged by 5.04%, while FET and AGIX have both gained approximately 3.55%.

Analysts predict that the ALS token could become a dominant force in the AI-crypto market due to its large market capitalization and the strong track records of the underlying projects. The merger would create a formidable competitor to the tech behemoths that currently control much of the AI industry, including Meta, Microsoft, Google, and OpenAI.

Fighting Centralization

The merger between SingularityNET, Ocean Protocol, and Fetch.ai is seen as a bold move to counter the centralization of AI technology in the hands of a few powerful companies. By joining forces, the three projects aim to create an alternative AI ecosystem that is decentralized, open, and accessible to all.

"Individually, these projects have made great strides, but together, they represent our best chance against the tech giants' monopoly on AI," said Goertzel. "By working together, we can harness the power of decentralization to create a more equitable and sustainable future for AI."

The proposed merger is a testament to the growing importance of blockchain technology in the development of AI. By leveraging the immutability, transparency, and decentralization of blockchain, AI-focused projects can create new solutions to complex problems and empower individuals and organizations alike.

As the AI revolution accelerates, the merger between SingularityNET, Ocean Protocol, and Fetch.ai is a timely reminder that innovation and collaboration are key to shaping the future of technology. The creation of the AltSignals token is a bold step towards a more decentralized and inclusive AI ecosystem that can benefit all of society.