SingularityNet, Fetch.ai, and Ocean protocols have received approval from their tokenholders for a $7.5 billion merger, resulting in the formation of the Artificial Superintelligence Alliance (ASI) project. The announcement, made on April 16, states that the Fetch.AI (FET) token will be transformed into the ASI token, with a total supply of 2.6 billion. The SingularityNet (AGIX) and Ocean (OCEAN) tokens will also be converted into ASI at approximate ratios of 0.43:1. The merger is set to launch on May 24.
The main objective of the ASI is to establish a decentralized AI infrastructure on a large scale, ensuring ethical and trustworthy practices. Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, stated, “By combining our platforms, we empower developers and users alike, fostering a more democratic and transparent AI ecosystem.”
The ASI is currently focusing on three key product pipelines: the deployment of AI agents in commercial settings, neural symbolic language learning models (LLMs), and AI data sharing and utilization. Sheikh explained, “In the near term, we anticipate generating revenue as we launch the agentic network for deployment. In the short term, we’ll focus on deploying numerous commercial products that breathe life into AI applications.”
In terms of future plans, the ASI aims to further invest in its GPU infrastructure for commercial, computing, and data purposes. Last month, Fetch.ai launched a $100 million investment to deploy Nvidia H200, H100, and A100 GPUs, creating a platform that allows developers and users to leverage computing power.
Fetch.ai, based in Cambridge, utilizes LLMs and AI agents for its computing marketplace, which connects users with AI-powered services. SingularityNET, headquartered in Zug, Switzerland, explores the utilization of AI in various fields such as finance, robotics, biomedical AI, media, arts, and entertainment. Ocean, based in Singapore, enables the trading of tokenized data assets for businesses and individuals through its platform.
The combination of blockchain and AI has shown significant synergies since the emergence of LLMs like ChatGPT. Sol Nasisi, founder and CEO of Booksie, discussed the potential for AI and blockchain to enable self-publishing book platforms in the near future in an interview with Cointelegraph on April 12.
In conclusion, the merger of SingularityNet, Fetch.ai, and Ocean protocols will drive the development of decentralized AI, according to the CEO of ChainGPT.