Three Giants Join Forces: Fetch.AI, SingularityNET, and Ocean Protocol Form Superintelligence Collective

Three prominent AI projects, Fetch.ai, SingularityNET (SNET), and Ocean Protocol, plan to merge into Superintelligence Collective, creating a comprehensive decentralized AI ecosystem. Aiming to advance decentralized Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI), the merger intends to challenge Big Tech's dominance in AI development and provide an alternative for distributed AI systems.

Unlocking the Power of Decentralized Intelligence: Three Leading AI Projects Merge to Form Superintelligence Collective

In a groundbreaking move that has sent shockwaves through the AI industry, three decentralized AI powerhouses – Fetch.ai, SingularityNET (SNET), and Ocean Protocol – have unveiled their plans to merge and establish the largest decentralized AI ecosystem in the world. This merger, pending community approval, signifies a bold step towards revolutionizing AI development, paving the way for accelerated progress towards Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI).

While AGI aims to create AI systems capable of human-like reasoning, ASI pushes the boundaries further, surpassing AGI's capabilities in all domains. Picture J.A.R.V.I.S., the AI assistant from the Iron Man films, as an example of AGI. Deep Thought, the supercomputer from "The Hitchhiker's Guide to the Galaxy," represents ASI, operating on a level far beyond AGI's reach.

The newly formed entity, Superintelligence Collective, will combine the strengths of these three projects, creating a formidable force to challenge the dominance of existing AI projects controlled by Big Tech. Fetch.ai, a leading Web3 platform, provides a decentralized multi-agent platform for deploying AI applications. SingularityNET boasts an AI-powered blockchain marketplace and framework for AI services, while Ocean Protocol has carved a niche in decentralized data exchange.

This merger emerges amidst a period of exponential growth for AI projects and presents a unique opportunity for the three giants to offer a compelling alternative to Big Tech's monopoly over AI development, usage, and monetization. They will go head-to-head with tech behemoths like OpenAI, Google, Microsoft, Meta, and Anthropic, offering developers a platform to build AI models that challenge centralized, proprietary technologies.

By merging their research, brands, technologies, and products, they will lay the foundation for a scalable, decentralized AI infrastructure that leverages each project's unique strengths and accelerates investments in AGI research. Openness and decentralization have become crucial dividing lines in the philosophical debate surrounding AI. As AI's sophistication grows, the resources and costs required to train models have skyrocketed, highlighting the allure of distributed ecosystems for small developers and the open-source community.

"Decentralized AI facilitates direct interactions between developers and users, bypassing the traditional gatekeepers of centralized authorities," noted Humayun Sheikh, CEO of Fetch.ai, in a press release. "This enhances data privacy and sets the stage for a more democratic and trustworthy AI ecosystem, encouraging global participation."

The proposed transaction involves a token migration, with Fetch.ai's FET taking the lead and transitioning to ASI. SingularityNET's AGIX tokens and Ocean Protocol's OCEAN tokens will follow suit. If the proposal secures majority approval from each respective community, the newly minted ASI token will boast a Fully Diluted Valuation (FDV) of approximately $7.5 billion as of March 26, 2024.

Specifically, the token conversion rates stand at 0.433350 to 1 for SingularityNET holders, 0.433226 to 1 for Ocean Protocol, while Fetch.AI will rebrand its token without altering its quantity. Should the proposal gain approval, $ASI is expected to trade at $2.82 per token.

This token merger, although uncommon, is not unprecedented. In 2022, NuCypher and Keep Network successfully combined through a similar process to form Threshold Network Token, demonstrating the potential for such collaborations. Since the merger announcement, SingularityNET has surged by 10%, Fetch.AI by 12.82%, and Ocean Protocol by over 23%.

The Superintelligence Collective will be led by Ben Goertzel, renowned AI researcher and the pioneer who coined the term "AGI" in 2005, as CEO. He will be joined by Humayun Sheikh of Fetch.AI as Chairman and Trent McConaghy of Ocean Protocol in a yet-to-be-determined role. The organizations guiding the development of the three merging networks will operate independently but collaborate closely within the shared ASI ecosystem and the operations of the Superintelligence Collective.

The diluted capitalization of the ASI token could propel it into the top 20 most valuable cryptocurrency projects, surpassing Litecoin, DAI, and Stellar and falling just short of Uniswap. This merger would also establish Superintelligence Collective as the second most valuable AI token in the crypto industry, trailing only NEAR Protocol's market capitalization of $8.1 billion.

The leaders of the three projects have expressed their enthusiasm about the merger, emphasizing their shared vision of creating a decentralized, democratic, and inclusive AI ecosystem. They firmly believe that this merger will accelerate investment in AGI and pave the way for a more equitable and trustworthy AI landscape.

The trio will delve into the token merger details during a joint Spaces on X event on Thursday, March 28, at 20:00 GMT, hosted by Fetch.AI's account. Attendees will have the opportunity to engage with Dr. Ben Goertzel, Humayun Sheikh, Bruce Pon, and Trent McConaghy.