Fetch.ai, Ocean Protocol, and SingularityNET Merge into the Artificial Superintelligence Alliance (ASI)

The merger is set to be completed on June 13, 2024. This alliance aims to create a decentralized alternative to AI projects dominated by Big Tech

Three major Web3 companies have announced the finalization of their merger to form the Artificial Superintelligence Alliance (ASI). The merger, which was first announced in December 2023, will see the merging of Fetch.ai, Ocean Protocol, and SingularityNET. The merger is set to be completed on June 13, 2024.

The merger will also see the renaming of the $FET token to $ASI on June 11, 2024. The $ASI token will serve the combined network, and users will be able to swap their $FET, $AGIX, and $OCEAN tokens for $ASI tokens through an audited token migration contract at specified conversion rates on or after June 13.

Key Details of the Merger And $ASI Tokenomics

The merger will see the renaming of the $FET token to $ASI on June 11, 2024. The $ASI token will serve the combined network, enhancing its scale and functionality. Users holding $FET, $AGIX, and $OCEAN tokens will be able to swap them for $ASI tokens through an audited token migration contract at specified conversion rates on or after June 13.

$FET coin will be renamed as $ASI. $FET tokens can be converted to $ASI at a 1:1 ratio. $AGIX and $OCEAN tokens can be converted to $ASI at a 0.433226:1 ratio. The $ASI token is expected to have a significant impact, with a current marketcap of $5.8B as of May 28.

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The merger, which was initially announced in December 2023, aims to create a decentralized alternative to AI projects dominated by Big Tech. The alliance will leverage the strengths of each founding company to establish a robust AI infrastructure.

The ASI Alliance will be governed by a decentralized autonomous organization (DAO), ensuring community involvement and decentralized decision-making. The alliance will operate on a modular blockchain architecture, enabling efficient integration of new technologies and use cases.

“This merger is a pivotal step towards advancing AI technology for the benefit of all,” said Ben Goertzel, CEO of ASI Alliance. “We aim to combine the power of advanced AI, blockchain, and decentralized governance to build a future where AI benefits all of humanity.”

The merger marks a significant development in the Web3 and AI industries, presenting a collective response to the challenges posed by Big Tech's dominance in AI development. The ASI Alliance aspires to redefine the landscape of AI, fostering a more decentralized, diverse, and equitable approach to the technology's advancement.