2024-03-28
The alliance between Fetch.ai, SingularityNET, and Ocean Protocol marks a significant step towards the creation of a decentralized AI ecosystem.
By merging their crypto tokens into one, the three projects aim to establish an alternative to the centralized control of AI by large technology companies.
Fetch.ai, with its native token FET, will undergo a transformation into ASI (artificial superintelligence). ASI will have a total supply of approximately 2.63 billion tokens and will be priced at $2.82.
The native tokens of SingularityNET (AGIX) and Ocean Protocol (OCEAN) will also merge into ASI at conversion rates of around 0.433 to 1.
This consolidation will result in ASI having a fully diluted market cap of approximately $7.5 billion.
The primary objective of the combined entity is to establish an open and decentralized AI infrastructure on a large scale. Unlike existing AI systems that often operate behind closed doors, the alliance seeks to provide transparency by making the inner workings of their infrastructure accessible to the public.
By creating this decentralized AI collective, Fetch.ai, SingularityNET, and Ocean Protocol aim to democratize access to AI technologies and empower individuals and organizations to participate in the development and utilization of AI.
This alliance has the potential to foster innovation, collaboration, and the advancement of AI technology in a more inclusive and decentralized manner.
The collaboration between these three prominent projects in the AI space demonstrates a shared vision and commitment to driving the adoption of decentralized AI.
As the alliance progresses, it will be interesting to observe how this merger of tokens and the establishment of an open AI infrastructure will shape the future of AI development and its impact on various industries.
