Blockchain-Based AI Companies Merge Tokens, Revolutionizing Decentralized AI

Three blockchain-based artificial intelligence (AI) companies, SingularityNET, Fetch.ai, and Ocean Protocol, are reportedly in discussions to merge their crypto tokens and create a decentralized AI platform. The proposed merger would consolidate the companies' tokens into a single ASI token with a fully diluted value of approximately $7.5 billion. The potential merger has met with positive reactions from the market, with the tokens of the three companies showing significant gains.

Blockchain-Based AI Companies Merge Tokens to Revolutionize Decentralized AI

In a groundbreaking development, three prominent blockchain-based artificial intelligence (AI) companies are reportedly in negotiations to merge their crypto tokens, creating a decentralized AI platform of unprecedented scale.

According to Bloomberg, the companies involved in this potential merger are SingularityNET, Fetch.ai, and Ocean Protocol. Sources familiar with the matter have hinted at the possibility, requesting anonymity due to the sensitive nature of the information.

The news has sparked an enthusiastic response in the crypto market, with the tokens of all three companies experiencing significant gains. SingularityNET's AGIX climbed 12%, Fetch.ai's FET surged 15%, and Ocean Protocol's OCEAN skyrocketed by an impressive 34% at the time of writing. The AI crypto sector itself has witnessed an overall upward trend of 23% during the past week, placing the three tokens among the top ten in terms of market capitalization.

Details of the proposed merger, as reported by Bloomberg, involve the consolidation of the companies' tokens into a singular ASI token, with a fully diluted valuation estimated at around $7.5 billion. The deal, potentially announced as early as Wednesday, would be contingent upon the approval of each participating community's members.

Under the terms of the potential merger, the three platforms would continue to operate independently while collaborating under the leadership of a "Superintelligence Collective" headed by SingularityNET's founder and CEO, Ben Goertzel. Fetch.ai's CEO, Humayun Sheikh, who was an early investor in Google's AI acquisition of DeepMind, is expected to serve as chairman.

The merger represents a significant step towards democratizing access to AI technology and preventing its concentration in the hands of large corporations. Emerging AI platforms such as SingularityNET, Fetch.ai, and Ocean Protocol are vying to harness blockchain's potential for decentralization, ensuring that AI's benefits are equitably distributed rather than controlled by a select few.

Bloomberg's sources stressed the urgency for the development of decentralized AI technology, citing the increasing influence of centralized AI entities like Microsoft, Google, and Facebook. The decentralized approach aims to empower individuals and foster equitable access to AI's transformative power.

At the time of writing, representatives from SingularityNET, Fetch.ai, and Ocean Protocol have declined to comment on the matter. The companies have yet to issue official statements or disclose information on their social media channels or official blogs. The decentralized AI crypto community eagerly anticipates further details of the proposed ASI token and its implications for the future of decentralized AI development on blockchain.