Tue 04/06/2024 ▪
4
min reading ▪ acc
SingularityNET, Fetch.ai, and Ocean Protocol have teamed up to create the ASI token, which supports an integrated AI cryptocurrency. The merger, which was announced on June 11, represents a key step towards decentralized innovation in AI.
Strategic Unification for Decentralized Crypto AI
The world of cryptocurrencies and artificial intelligence is preparing to reach a historic milestone with merging FET, AGIX and OCEAN tokens into one token called Artificial Superintelligence Alliance (ASI).
SingularityNET made the announcement this process will begin on June 11 with the renaming of FET to ASI followed by the conversion of AGIX and OCEAN tokens on June 13. This strategic operation aims to consolidate the strengths of these three major players in the AI crypto sector.
According to a report by SingularityNET, this unification will make it possible to create the largest open-source decentralized network in the field of artificial intelligence more than 200,000 token holders. The transfer process, which will run through the decentralized artificial intelligence platform SingularityNET, will use audited migration contracts to ensure the security of exchanges.
THE specific conversion rates were founded: 1:1 for FET, 1:0.433350 for AGIX and 1:0.433226 for OCEAN. The vision of this merger is to provide unprecedented scale and performance in the AI industry while facilitating collaboration between different players.
Unprecedented cooperation with technology giants
Merging tokens within Collective superintelligenceled by Ben Goertzel of SingularityNET and Humayun Sheikh of Fetch.ai, comes at a time when tech giants like Alphabet and Microsoft are investing heavily in AIor even go so far as to consider monopolizing the sector.
This alliance represents the ambitious response it is targeting develop decentralized AI technologyto escape the control of large corporations to make them more accountable to shareholders.
The mission of the collective is to promotecollaborative innovation and create a a fairer technology ecosystem.
The separate businesses of SingularityNET, Fetch.ai, and Ocean Protocol will be retained, but will operate under the umbrella of a common entity, allowing for greater synergy.
This initiative reflects the growing importance Cryptocurrency AIwho have already achieved market capitalization of more than $38.7 billion ($25 billion in early March) according to CoinMarketCap. In addition to strengthening these companies’ market position, this merger offers exciting prospects for the future of AI and cryptocurrency technologies, with ASI playing a central role in this new ecosystem.
In conclusion, the merger of tokens from SingularityNET, Fetch.ai and Ocean Protocol into ASI marks the beginning of a new era for AI crypto, supporting decentralized and collaborative innovation.
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The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.