Three Artificial Intelligence (AI) protocols have confirmed a monumental $7.6 billion merger to determine the Synthetic Superintelligence Alliance, with the first aim of advancing the event of Synthetic Basic Intelligence (AGI), in keeping with a March 27 assertion shared with CryptoSlate.
SingluarityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) stated they joined forces to create an expansive decentralized community that may problem the dominance of main tech giants in AI.
Why AI protocols are merging
Based on the alliance, the merger is pushed by the rapid growth of AI and the substantial progress achieved by every of the three tasks independently. By combining efforts, the alliance goals to create a strong decentralized AI infrastructure worldwide, accelerating investments in AGI improvement.
Consequently, the alliance is pushed by two key targets—expediting progress towards AGI and disrupting Big Tech’s stronghold over AI improvement, utilization, and commercialization.
Ben Goertzel, CEO of SingularityNET, emphasised the significance of safeguarding AGI and ASI towards biased influences and highlighted the necessity for a community of tokens able to difficult the dominance of Massive Tech.
Goertzel stated:
“[AGI and ASI] should be rolled out in an open, democratic and decentralized way. This has been the joint vision of SNET, Fetch.ai and Ocean Protocol from their inception, and for this reason, it makes total sense that our three projects come together to form a tokenomic network that has greater power to take on Big Tech and shift the center of gravity of the AI world into the decentralized ecosystem.”
Echoing these sentiments, Humayun Sheikh, the founding father of Fetch.ai, highlighted the potential of the token merger to uphold moral requirements and transparency inside AI and finally foster a extra democratic and reliable AI ecosystem.
How the merger works
The three decentralized AI networks will merge their native tokens—FET, OCEAN, and AGIX—right into a unified ASI token with an anticipated mixed worth of $7.6 billion.
Beneath these phrases, FET will likely be rebranded as ASI, with a token provide of two.63 billion and a beginning worth of $2.82. Notably, the native tokens of SingularityNET and Ocean Protocol would even be migrated to ASI, with conversion charges of 0.433350:1 and 0.433226:1, respectively.
Bruce Pon, Ocean Protocol CEO, stated:
“The unified ASI token is the glue to orchestrate all actors with common incentives. ASI tokens are used to secure the public network, as data access tokens and to unlock computation without needing traditional banking and payment rails. It is the native currency for the machine economy.”
In the meantime, the three platforms will preserve their independence whereas enhancing collaboration by the brand new initiative, overseen by a governing council. The governing council can have Humayun Sheikh from Fetch.ai as Chairman, Ben Goertzel from SingularityNET because the CEO, and Trent McConaghy and Bruce Pon from Ocean Protocol.
Nonetheless, the formalization of this alliance hinges upon approval from the AI networks’ totally different communities by a voting course of.
Goertzel added:
“The impact of [our proposed] system may greatly exceed what we’ve seen from significant LLMs and lead the global economy into a new era of beneficial decentralized AGI and ASI.”
All three tokens rallied on the preliminary information however have since retraced in keeping with Bitcoin’s decline beneath $70,000 as of press time. All three are up roughly 9 – 16% over the previous 24 hours.
