FetchAI, SingularityNet and Ocean Protocol have combined to build the largest decentralized AI ecosystem

Three leading decentralized AI projects—Fetch.ai, SingularityNET (SNET), and Ocean Protocol—have announced their intention to merge and create the world's largest decentralized AI ecosystem. The integration, subject to community approval, aims to accelerate progress towards decentralized Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI).

For reference, while AGI focuses on building AI that can mimic human reasoning abilities, ASI focuses on exceeding the limits set by AGI in all areas. So, while JARVIS, superhero Iron Man's PC, may be an AGI computer, it has nothing on the ASI-powered Deep Thought computer in “The Hitchhiker's Guide to the Galaxy” book series.

The new entity, known as the Superintelligence Collective, will bring together the strengths of the three projects to create a powerful alternative to AI projects dominated by Big Tech. Fetch.ai, a Web3 platform for the new AI economy, is building a decentralized multi-agent platform for deploying AI applications. SingularityNET has built an AI-powered blockchain-based marketplace and framework for AI services, while Ocean Protocol has focused on building a decentralized data exchange platform.

The merger is born out of a boom in AI projects and gives the three leaders an opportunity to create a compelling alternative to Big Tech's control over AI development, use and monetization.

This means they are up against the likes of OpenAI, Google, Microsoft, Meta, Anthropic, etc. But overall, they provide a platform for developers willing to build AI models that compete with centralized and proprietary technologies.

The integration of their research, brands, technologies and products will combine the different focus areas of each project and create a foundation for building a decentralized AI infrastructure that accelerates investments in AGI research.

Transparency and decentralization have become a key divisive topic in the philosophical debate surrounding AI. As AI becomes more complex, the requirements and costs to train better models increase. That, in turn, has demonstrated the appeal of distributed ecosystems to small developers and the open source community in general.

“Decentralized AI bypasses the traditional gatekeepers of centralized authorities and facilitates direct communication between developers and users. This improves data privacy and paves the way for a more democratic and trusted AI ecosystem and encourages global participants to contribute,” said Humayun Sheikh, CEO of Fetch.ai. He said in a press release shared with Decrypt.

The details of the transaction include a token migration, with Fetch.ai's FET leading the charge and ASI becoming. SingularityNET AGIX Tokens and Ocean Protocol Ocean Tokens will be transferred to ASI. If the proposal receives majority approval from each community, the newly created ASI token will have a fully diluted value (FDV) of approximately $7.5 billion as of March 26, 2024.

In detail, the idea is to renew tokens at a conversion rate of 0.433350 for SinguratyNET holders, 0.433226 to 1 for Ocean Protocol and Fetch.AI simply maintaining the same token size. $ASI should start trading at $2.82 per token—if the proposal is approved

This token integration is somewhat unusual, but not without precedent. In the year In 2022, NuCypher and Keep Network will use the same process to merge into a new project called the Threshold Network Token, demonstrating the success of such collaboration. After this merger was announced, SingularityNET grew 10%, Fetch.AI grew 12.82%, and Ocean Protocol jumped over 23%.

Super Intelligence Group is led by Ben Goertzel as CEO. In the year It was an AI researcher who coined the term “AGI” in 2005. Goertzel will be joined by Fetch.AI Chairman Humayun Sheikh and Trent McConaughey representing Ocean Protocol. The organizations helping to lead the development of the three integration networks will continue to operate as separate entities, but will collaborate closely on the common ASI Tokenomic Ecosystem and the Superintelligence Cluster.

The liquid capitalization is easily below Uniswap and beating other popular projects like Litecoin, DAI, Stellar, ASI Token can easily land in the top 20 most valuable cryptocurrency projects. The merger also makes Superintelligence Collective the second most valuable AI token in the crypto industry, just below Protocol, which has a market capitalization of $8.1 billion at the time of this writing.

The leaders of the three projects expressed their excitement about the merger and emphasized the shared vision of creating a decentralized, democratic and inclusive AI ecosystem. They believe this integration will accelerate investment into AGI and pave the way for a more democratic and trusted AI ecosystem.

The three projects will discuss token integration at Common Spaces on Thursday, March 28 at 20:00 GMT under the Fetch.AI tag. Participants in the space include Dr. Ben Goertzel, Humayun Shaikh, Bruce Poe and Trent McConaughey.

Edited by Stacy Elliott.