Merger With FetchAI, SNET, And Ocean Protocol In An Effort To Advance AI

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Joining forces, Fetch.AI, SingularityNET (SNET), and Ocean Protocol merge their cryptocurrency tokens to challenge Big Tech's AI dominance.

In a significant move towards the advancement of artificial superintelligence (ASI), Fetch.AI, SingularityNET (SNET), and Ocean Protocol have combined their native cryptocurrency tokens into one, aiming to challenge the control exerted by Big Tech in AI development, utilization, and monetization.

The Visionaries Behind the Alliance

Fetch.AI specializes in constructing a decentralized multi-agent platform for AI application deployment, while SNET offers a blockchain-based AI marketplace and an inclusive framework for artificial general intelligence (AGI) services. On the other hand, Ocean Protocol operates as a decentralized platform preserving privacy for data exchange. Founders Humayun Sheikh, Ben Goertzel, Bruce Pon, and Trent McConaghy are pioneers in AI adoption, dedicated to realizing AGI's potential. Their collective effort aims to establish a decentralized AI infrastructure, attracting investments into AGI development.

Fetch.AI founder and CEO, Humayun Sheikh, highlights the mission's departure from the dominance of Big Tech: "In a world where Big Tech giants monopolize AI conversations, we're charting a new course. Our objective is to merge platforms for ensuring ethical and transparent AI, decentralizing its governance. This decentralized approach fosters direct engagement between developers and users, circumventing traditional centralized authorities."

Proposal for Token Merge

The consortium will present the token merge proposal to their governance bodies on March 27, initiating a 14-day evaluation period. Community members will then vote on each proposal between April 2 and 16.

Upon approval, FET will transition to ASI, with a total supply of 2.63 billion tokens and an initial price of $2.82. AGIX and OCEAN will migrate to ASI at conversion rates of 0.433350 and 0.433226 respectively. Ultimately, ASI is projected to have a valuation of $7.5 billion.

Post-approval, the Superintelligence Collective will establish a governing council, with Sheikh as chairman and Goertzel as CEO, while Pon and McConaghy represent Ocean Protocol.

It's noteworthy that although the companies will maintain separate operations, they will collaborate solely within the ASI tokenomic ecosystem and activities of the Superintelligence Collective, marking a significant step towards decentralized AI advancement.

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Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.