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Cryptocurrency News Articles
SingularityNET, Fetch.ai and Ocean Protocol join forces to create the ASI token, promoting an integrated AI crypto
Jun 04, 2024 at 10:00 pm
Announced for June 11, the merger marks a key step towards decentralized AI innovation.
Artificial Intelligence (AI) cryptocurrencies took a historic step on June 11, as SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) merged their tokens into a single token, Artificial Superintelligence Alliance (ASI).
SingularityNET announced the development on June 11, with FET being renamed ASI, while AGIX and OCEAN tokens will be converted on June 13. The process is being overseen by SingularityNET, with the tokens being migrated through audited migration contracts on SingularityNET's decentralized AI platform.
The conversion rates are 1:1 for FET, 1:0.433350 for AGIX, and 1:0.433226 for OCEAN. The move is set to create a new scale and force in the AI industry, uniting the strengths of the three companies in the AI crypto sector.
The token merger is part of a broader collective called the Superintelligence Collective, led by SingularityNET's Ben Goertzel and Fetch.ai's Humayun Sheikh.
The collective is being formed at a time when tech giants like Alphabet and Microsoft are ramping up their AI efforts, with some suggesting they may monopolize the technology.
The alliance is a response to this development, aiming to advance decentralized AI technology that can escape the control of large companies and be more accountable to token holders.
The collective aims to promote collaborative innovation and a more equitable technological ecosystem. Notably, the distinct operations of SingularityNET, Fetch.ai, and Ocean Protocol will be maintained but will now operate under the common entity.
The initiative comes as AI cryptos have seen a significant rise, reaching a total market capitalization of over $38.7 billion ($25 billion in early March) according to CoinMarketCap.
The merger is set to strengthen the market presence of the companies involved and holds promise for the future of AI and cryptocurrency technologies, with ASI set to play a central role in this new ecosystem.
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- NYC's New Beat: Staking Systems, USD1, and Governance Drive Crypto's Next Wave
- Apr 30, 2026 at 03:02 pm
- From lucrative USD1 earning events to robust governance models, the crypto sphere is buzzing with innovations reshaping how we engage with digital assets, focusing on long-term commitment and stablecoin utility.
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- OKX Unveils Agent Payments Protocol: Ushering in a New Era of AI Transactions
- Apr 30, 2026 at 02:53 pm
- OKX launches its Agent Payments Protocol (APP), an open standard for AI-driven commerce, enabling agents to manage full business cycles. Explore the implications for AI transactions and agentic payments.
