Token holders approve $7.5B AI merger
SingularityNet, Fetch.ai and Ocean protocols have approved a $7.5 billion merger, a joint Artificial Superintelligence Alliance (ASI) project.
According to the April 16 announcement, the Fetch.AI (FET) token will become an ASI token with a total supply of 2.6 billion. Meanwhile, SingularityNet (AGIX) and Ocean (OCEAN) tokens will convert to ASI at an approximate 0.43:1 ratio, with ASI tokens having a combined value of $7.5 billion after the merger. ASI is scheduled to launch on May 24.
“Our mission is to create a decentralized AI infrastructure at scale,” said Humayun Shaikh, chairman and CEO of Fetch.ai's Artificial Superintelligence Alliance. Fostering a more democratic and transparent AI ecosystem.
ASI is currently investigating three different product pipelines: deploying AI agents in business settings, neural symbolic language learning models (LLMs), and AI data sharing and use. “In the near future, we expect to generate revenue when we launch an agent network for deployment,” Sheikh said in a statement to Cointelegraph. “In the short term, we will focus on deploying a number of commercial products that will breathe life into AI applications.”
As for the project's next roadmap, ASI plans to invest more in GPU infrastructure for its business, computing and data endeavours. Last month, Fetch.ai launched a $100 million investment to create a platform for developers and consumers to leverage computing power to deploy Nvidia H200, H100 and A100 GPUs.
Based in Cambridge, Fetch.ai uses LLMs and AI agents for its computing marketplace that connects users with AI-powered services. Meanwhile, SingularityNET, headquartered in Zug, Switzerland, explores the use of AI in areas such as finance, robotics, biomedical AI, media, arts and entertainment. Finally, Singapore-based Ocean allows businesses and individuals to trade tokenized data assets through its platform.
Blockchain has seen significant collaboration with AI ever since blockchains like ChatGPT became popular. In an interview with Cointelegraph on April 12, Booksy founder and CEO Sol Nassi discussed the potential of AI and blockchain to enable self-publishing book platforms in the near future.
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