FET on Cardano: A Milestone for Decentralized AI

The Artificial Superintelligence (ASI) Alliance project has announced the deployment of its native token, FET, on the Cardano blockchain.

Artificial Superintelligence (ASI) Alliance members announced the deployment of their native token, FET, on the Cardano blockchain. This marks a significant step in the creation of a decentralized and ethical AI ecosystem.

FET Deployed on Cardano: A Milestone for Decentralized AI

In an article shared with the community on X, ASI Alliance announced the deployment of FET on the Cardano blockchain. This collaboration will strengthen the ASI Alliance network as it leverages Cardano's advanced and secure infrastructure to achieve its goals.

With Cardano's Chang hard fork now live on the mainnet, ASI Alliance's AI innovation is set to be powered by Cardano. This milestone development will utilize various tools to enhance FET's interoperability across major blockchain networks.

Throughout September, further developments will roll out following this maiden deployment of FET as a Cardano Native Token (CNT). Several on-chain ASI products will be introduced to maximize the capabilities of Cardano's Plutus Core infrastructure.

In another development, the ticker will change from FET to ASI to establish uniqueness. This FET deployment will ultimately replace all existing AGIX native Cardano tokens.

Users can expect to see these changes reflected in the coming days. Additionally, a migration tool will facilitate the direct conversion of AGIX to FET, ensuring a seamless migration for Cardano users.

ASI Alliance Collaboration for Decentralized AI Development

The deployment on Cardano is the result of a collaboration between three leading artificial intelligence (AI) and blockchain protocols: Fetch.ai, SingularityNET, and Ocean Protocol.

These three protocols have come together to form the largest open-sourced, independent AI research and development entity. Their mission is to fast-track the evolution of Artificial General Intelligence (AGI) and, ultimately, Artificial Superintelligence (ASI).

Their collaboration aims to make AGI accessible to everyone, removing control from any single entity, corporation, or nation. This will ensure true decentralization, inclusivity, and a democratic governance structure.

According to Ben Goertzel, CEO of SingularityNET, their goal is to ensure that AGI benefits the broader human society. Different groups of researchers, scientists, engineers, entrepreneurs, and marketers will work together to achieve this mission in areas ranging from finance and robotics to biomedical AI and media.

Commenting on the deployment of FET on Cardano, Goertzel highlighted the low cost, high speed, and top security of the Cardano infrastructure as some of the deciding factors. He is optimistic that the platform's tools and software will help usher in the switch from AI applications to AGI and Superintelligence.

The Impact on FET and ADA Price Outlook

The deployment on the Cardano blockchain has triggered positive market sentiments for FET, which traded at $1.07, marking a 0.75% increase in the last 24 hours. Similarly, the ADA price registered a 3.27% increase to exchange hands at $0.3253.

This is a notable improvement for FET, which has seen a significant downturn in the past few months. Despite a price rebound in the broader crypto market, FET lost over 60% of its value in the three months to August.