Blockchain AI Giants Merge Tokens, Form $7.5B Super Entity

Three blockchain-based AI companies, SingularityNET, Fetch.ai, and Ocean Protocol, are merging their crypto tokens into a new entity called ASI token, creating a token with a fully diluted value of roughly $7.5 billion. The proposed "Artificial Superintelligence Alliance" would see the transformation of the projects' existing tokens into the ASI token, pending community approval. The merger aims to establish the largest open-source, independent entity in AI research and development, leveraging the growing AI sector and creating a unified AI ecosystem.

Three Blockchain-Based AI Companies Merge Tokens to Create $7.5 Billion Entity

In a groundbreaking move, three prominent blockchain-based artificial intelligence (AI) companies—SingularityNET, Fetch.ai, and Ocean Protocol—have announced plans to merge their crypto tokens into a new entity called ASI token.

The merger, pending approval from the respective communities, will create a token with a fully diluted value of approximately $7.5 billion. Upon the announcement, Fetch.ai's FET token and SingularityNET's AGIX token surged by 15% and 12%, respectively, in the past 24 hours. Ocean Protocol's OCEAN token experienced an even larger gain of over 36%.

Genesis of the "Artificial Superintelligence Alliance"

The proposed "Artificial Superintelligence Alliance" (ASI) aims to transform the companies' existing tokens into the ASI token. This consolidation seeks to establish the largest open-source, independent entity in AI research and development.

Bruce Pon, CEO and co-founder of Ocean Protocol, emphasized the strategic rationale behind the merger. "This deal will leverage the rapidly growing AI sector, create a scalable decentralized infrastructure, and accelerate AI investment," he stated.

The unified ASI token is envisioned to serve as the native currency for the machine economy, securing the public network, facilitating data access, and enabling computation without traditional payment methods.

Governance and Implementation

The integration proposals will undergo a 14-day consultation period within the governance communities of each project, followed by a voting period from April 2 to April 16. If approved, FET will convert to ASI with a total supply of 2.63 billion tokens at 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.

Expert Perspectives on the Merger and AI Ecosystem

Alex Dreyfus, co-founder and CEO of Chiliz, a leading crypto expert, provided insights on the merger and broader AI and blockchain integration. Dreyfus underscored the critical need for massive capital, decentralization, and consolidation in the AI sector.

"AI needs massive capital and decentralization," he asserted. "Instead of AI companies being fragmented, they need to consolidate."

Dreyfus also emphasized the network effect and its importance in creating a robust AI token ecosystem that rewards companies, developers, and scientists. "A stronger AI token ecosystem can reward more companies, developers, scientists, etc., and therefore grow more massively."

Blockchain and Crypto Ecosystem Implications

Dreyfus foresees potential mergers and acquisitions (M&A) among other top blockchain projects. "I don't expect Solana to merge with TON," he noted, "but I do expect the second half of the top 100 CMC marketcap [to participate] in some token M&A in order to stay relevant and consolidate liquidity, network effect, decentralization, and branding."

Chiliz, according to Dreyfus, has explored M&A opportunities to identify potential partners for integration into its blockchain ecosystem. He emphasized the democratic nature of blockchain governance and the role of chain governance in decision-making. "I hope to bring to Chiliz a strong initiative like this," he concluded.