Haider Jamal

Mar 28, 2024

Huge AI Merger Between Fetch, Ocean Protocol, And SingularityNET Announced

Artificial Intelligence (AI) made a significant impact on the technological landscape, transcending its status as merely a buzzword to become a driving force shaping our world. Notable projects like ChatGPT and DALL-E have garnered attention by industry giants such as Microsoft and Google, intensifying the competition to lead in this field.

Decentralized entities like SingularityNet, Ocean Protocol, and Fetch.AI are at the forefront, advocating for democratizing access to AI. Now, these entities are proposing a merger of their blockchain networks, forming the Artificial Superintelligence Alliance (ASI).


The Race Is On

The merger, valued at $7.5 billion, aims to create the largest open-sourced decentralized network in the world, accelerating the race towards Artificial General Intelligence (AGI). As part of this alliance, tokens by Fetch.AI, Ocean Protocol, and SingularityNet will all converge into a single $ASI token, enhancing the scale and capabilities of the combined AI network.

Dr. Ben Goertzel, CEO of SingularityNet, emphasized the importance of democratizing AI and avoiding centralized control, stating that the alliance aligns with the vision of open and decentralized AI development. The leadership of the ASI will include figures via the merging entities, operating closely within the tokenomic ecosystem while retaining separate identities.


Challenging The Monopoly

The announcement of the merger has had a significant impact on token values, with OCEAN experiencing a notable surge. This development signifies a challenge to the monopoly over AI technologies that is currently held by Big Tech companies, marking a significant milestone for both the crypto and AI industries.

The ASI aims to leverage the growth of AI projects and challenge the dominance of Big Tech in AI development and monetization. By creating a decentralized infrastructure, the alliance seeks to transform closed-source AI systems into open networks, fostering collaboration towards common goals.

Upon approval, the merger will involve token migrations with specified conversion rates, resulting in a unified token with a substantial market value. Bruce Pon, CEO of Ocean Protocol, sees this combination as a step towards integrating decentralized technologies on a global scale, facilitated by the ASI token.


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