- The trio of Fetch.ai, SingularityNET, and OCEAN Protocol have merged to form Superintelligence Alliance.
- With their tokens unified, the alliance seeks to fight the dominance of big AI giants.
Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), three well-known decentralized Artificial Intelligence (AI) giants have united to establish the largest independent player in AI research and development, dubbed the Superintelligence Alliance.
FET, AGIX, and OCEAN Unite to Form a Single Token
The Superintelligence Alliance is a unified front against big tech’s influence over technology.
“We’re joining forces to change the game on how AI is created, shared, and used by everyone leaning into the principles of decentralization to accomplish an open and equitable form of AI,” noted Fetch.ai in a recent post.
According to the terms of the partnership, the tokens from the trio will be integrated to form a single universal AI token known as the Artificial Superintelligence token ASI. The Alliance’s total value at signing is $7.5 billion.
With this value, ASI is theoretically ranked the 20th largest cryptocurrency in the CoinMarketCap digital asset hierarchy with 2.631 billion tokens, and FET as the benchmark currency.
This partnership comes on the heels of rapid acceleration in the AI ecosystem. With the introduction of the latest Large Language Models (LLMs), the rate of innovation has increased dramatically, resulting in a flood of growth that every startup, decentralized initiative, and major multinational must deal with.
In Artificial Superintelligence (ASI), AI operates at levels well above human competency. Fetch.ai stated in a post that the benefits of Artificial superintelligence are enormous and, therefore, should not be controlled by the few but decentralized.
Together, the three companies intend to provide AI researchers, companies, and governments with an alternative that does not lean towards a particular bias, and expose them to the risk of users exiting their platform, and the loss of their intellectual property, social graph, and followers.
The Alliance aims to utilize Fetch.ai’s advanced autonomous AI agents and blockchain infrastructure, SingularityNET’s R&D heritage in AI development and integration, and Ocean Protocol’s data sharing and monetization.
The launch of ASI is expected to boost the position of the companies in the decentralized AI ecosystem and beyond. With a community of over 250,000 wallets and more on exchanges, the future looks bright for these giants.
Implication of the Partnership
At the moment, token holders are not obligated to take any urgent action. However, holders of OCEAN and AGIX on various exchange platforms will see their tokens rebranded to ASI. Those holding tokens offline or in hard wallets are advised to continue holding them as before or use the token swap mechanism, which will become available soon, to allow the exchange of OCEAN and AGIX for ASI tokens.
Token holders will receive 0.433226 ASI per OCEAN and 0.433350 ASI per AGIX. This exchange rate is said to be fixed and will not change.
Echoing earlier coverage by Crypto News Flash, the three tokens recorded price gains as excitement over the new project surged. At the time of writing, FET is trading at $2.32, up by 13% in the past day. In a similar move, AGIX is up by 12.45% to $0.9042, whilst OCEAN has demonstrated an increase of 13% to $0.931.
