Ocean Protocol, Fetch AI, and SingularityNET Merge to Form the “Artificial Superintelligence Alliance” (ASI)

Prominent web3-based artificial intelligence projects Ocean Protocol, Fetch AI, and SingularityNET — the “Artificial Superintelligence Alliance” (ASI) Alliance — announced that their forthcoming merger will take place in roughly two weeks.

Three prominent web3-based artificial intelligence projects — Ocean Protocol, Fetch AI and SingularityNET — have announced the specific dates for their highly anticipated merger, which will see the creation of the “Artificial Superintelligence Alliance” (ASI) and the merging of their respective tokens.

According to an announcement by Fetch on Monday, the merger will commence on June 11, starting with Fetch’s native FET token being renamed to ASI. Users will be able to migrate their FET to ASI on a one-to-one basis.

The migrations for SingularityNET’s (AGIX) and Ocean Protocol’s (OCEAN) tokens will go live from June 13 at conversion rates of roughly 0.433 ASI per token, the announcement noted.

The three projects span more than 200,000 tokenholders combined, Fetch said.

“This merger paves the way for a new era in AI, combining our strengths to achieve unprecedented advancements,” said Ben Goertzel, CEO of ASI Alliance and founder of SingularityNET Founder. “This is only the start of a broader movement to gather together forces working toward beneficial decentralized [artificial general intelligence].”

“The merger will present a formidable challenge to Big Tech's narrative of concentrating AI development,” ASI Alliance said in a statement. “This fusion… lays the groundwork for an open, scalable AI infrastructure that leverages blockchain to ensure ethical and trustworthy practices in AI development and deployment.”

The three projects first announced their intention to merge assets and establish a shared “tokenomic network” on March 27. Governance proposals outlining the merger were passed by each project’s respective community in April.

The ASI Alliance seeks to comprise a decentralized alternative to the cartel of centralized tech firms currently leading innovation and development within the artificial intelligence industry.

“Our mission is to combine our platforms to ensure ethical and transparent artificial intelligence to decentralize AI,” said Humayun Sheikh, the founder of Fetch AI and a founding investor in DeepMind.

While the news drove short-term rallies for each project’s native token, FET and AGIX both pulled back by 28.5% from their March 27 highs, while OCEAN token fell 35.6% over the same period, according to CoinGecko.