Three Blockchain-Based AI Projects Merge to Form AI Superpower

Three blockchain-based data and AI projects, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), have proposed a merger of their tokens, dubbed the "Artificial Superintelligence Alliance." The merger aims to create a decentralized infrastructure for AI research and commercialization under the unified "Artificial Superintelligence" (ASI) token. Despite the token merger, the respective projects will continue to operate independently, governed by a Superintelligence Collective council led by Dr. Ben Goertzel as CEO and Humayun Sheikh as Chairman.

Blockchain-Based Data and AI Projects Propose Merger to Create Open-Sourced AI Powerhouse

Three blockchain-based data and artificial intelligence (AI) projects, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), have announced a proposed merger aimed at creating the largest open-sourced, independent player in AI research and development.

Dubbed the "Artificial Superintelligence Alliance," the proposed merger would see the projects' respective tokens become a unified Artificial Superintelligence (ASI) token. The merger is intended to capitalize on the rise of AI and the growth of the three projects, leveraging their combined resources to create a decentralized infrastructure at scale and accelerate investment in AI.

Surging Token Prices

The announcement of the proposed merger has led to a surge in the prices of the projects' existing tokens. Fetch.ai (FET) has gained over 15% in the past 24 hours, while SingularityNET (AGIX) has gained over 12%. Ocean Protocol's token, OCEAN, has experienced the most significant increase, rising by more than 36% over the same period.

Rationale for the Merger

According to a statement released to The Block, the merger aims to create a vertically integrated stack of decentralized technologies, providing the scale and resources to compete globally. The combined technologies are expected to establish a leader in R&D, applications, and commercialization of artificial general intelligence (AGI).

"We can deliver on the promise of a vertically integrated stack of decentralized technologies while gaining scale to compete globally," said Bruce Pon, CEO and co-founder of Ocean Protocol. "The combination of our technologies creates a leader in R&D, applications and commercialization of AGI."

Timeline and Voting Process

The three projects will submit integration proposals to their respective governance communities today, initiating a 14-day consultation period. Voting on the proposal is anticipated to take place between April 2 and April 16.

If approved by each community, FET will be converted into ASI with a total supply of 2.63 billion tokens and a starting price of $2.82. AGIX and OCEAN will migrate to ASI at conversion rates of 0.43335 to 1 and 0.433226 to 1, respectively. The newly merged ASI token would have a fully diluted value of $7.5 billion at current prices.

Governing Council and Superintelligence Collective

A governing council for the "Superintelligence Collective" will be established to oversee and guide the operations of the merged tokenomic network. The Superintelligence Collective will be led by Dr. Ben Goertzel, founder of SingularityNET, as CEO. Humayun Sheikh, founder and CEO of Fetch.ai, will serve as Chairman, while Bruce Pon and Trent McConaghy will represent Ocean Protocol.

The organizations supporting the development of the three merging networks will continue to operate as separate entities but will collaborate closely within the shared ASI tokenomic ecosystem and the operation of the Superintelligence Collective.

Open and Democratic AI

"It is imperative, as the AI revolution intensifies, to ensure that AGI and ASI as they develop are not owned and controlled by any particular party with its biased interests," said Dr. Ben Goertzel, founder and CEO of SingularityNET. "They should be rolled out in an open, democratic and decentralized way."

The proposed merger is seen as a step towards achieving this goal, creating a tokenomic network with the power to shift the center of gravity of the AI world into a decentralized ecosystem.

Community Discussion

A community joint call is scheduled for tomorrow at 4 p.m. ET on X Spaces to discuss the pending merger. The projects encourage their communities and the broader AI ecosystem to engage in this important conversation about the future of artificial intelligence.