TL;DR
- SingularityNET, Fetch.ai, and Ocean Protocol merge under the unified ASI token to consolidate resources in decentralized AI.
- The initiative aims to redefine AI by integrating specialized knowledge and technological assets, challenging the dominance of large corporations.
- The migration of AGIX and OCEAN tokens to FET is currently underway, followed by the deployment of the ASI token in July and its expansion across multiple blockchains.
The Artificial Superintelligence Alliance (ASI) has announced the launch of the merger of SingularityNET, Fetch.ai, and Ocean Protocol tokens. A strategic initiative that combines them into a single unified token called ASI. A crucial advancement aimed at consolidating resources and capabilities in the field of decentralized artificial intelligence.
The project was recently introduced and seeks to redefine and transform the AI sector. This will be possible through the integration of specialized knowledge and technological assets from each of the involved companies. The goal is to facilitate more efficient and equitable access to advanced AI technologies, challenging the status quo of major technology corporations.
📢 Phase 1 of the Artificial Superintelligence Alliance @ASI_Alliance Token Merger
We are pleased to announce the initiation of Phase 1 of the ASI token merger involving SingularityNET (AGIX), @Fetch_ai (FET) and @oceanprotocol (OCEAN).
Phase 1 Overview
This initial phase of… pic.twitter.com/iNtOAL7386
— SingularityNET (@SingularityNET) July 1, 2024
ASI Token Merger Will Occur in Two Phases
The token merger will occur in two phases. In the first phase, currently underway, the migration of AGIX and OCEAN tokens to FET is taking place. This includes the implementation of a migration platform in SingularityDAO and the gradual withdrawal of AGIX and OCEAN from exchanges. Additionally, a rebranding process for FET on various platforms is underway to facilitate the transition.
The second phase is scheduled for mid-July, when the ASI token will be deployed on multiple blockchain networks. New smart contracts and blockchain bridges will be introduced to enable seamless conversion of FET, AGIX, and OCEAN tokens to ASI. This process will span several years, ensuring orderly migration and providing detailed guidance for users and developers.
Despite the project being supported by major exchanges such as Bitfinex, Binance, and KuCoin, Coinbase has decided not to participate directly in the automatic token migration. Coinbase users wishing to join the merger will need to manually convert their tokens.
Leaders in the development of ASI, such as Humayun Sheikh from Fetch.ai and Ben Goertzel from SingularityNET, stated that this merger will foster collaboration and innovation in the AI industry, driving the development of user-centric products and promoting the adoption of advanced artificial intelligence technologies within the decentralized ecosystem.
