TL;DR
- Fetch.AI, SingularityNET, and Ocean Protocol propose to merge to create the world’s largest decentralized AI ecosystem.
- The alliance aims to combine the strengths of each project: Fetch.AI in AI economy, SingularityNET in blockchain marketplace, and Ocean Protocol in decentralized data exchange.
- The resulting new entity, the Superintelligence Collective, will seek to offer an alternative to centralized technologies.
Three of the leading decentralized artificial intelligence projects, Fetch.AI, SingularityNET, and Ocean Protocol, have announced a merger proposal with the intention of creating the world’s largest decentralized AI ecosystem. This project, subject to community approval, aims to accelerate progress towards General Artificial Intelligence (AGI) and eventually towards Superintelligent Artificial Intelligence (ASI).
The purpose of this merger is to combine the strengths of the three projects to create a solid alternative to AI projects controlled by major tech companies. Fetch.AI stands out for its Web3 platform for the new AI economy, SingularityNET has built a blockchain-based marketplace, and Ocean Protocol focuses on creating a decentralized data exchange platform.
We are excited to announce a multi-billion token merger with @Fetch_ai and @oceanprotocol to create the Artificial Superintelligence Alliance, the largest open-sourced, decentralized network, and accelerate the race to AGI. Learn more: https://t.co/zT8Q1HbkEv pic.twitter.com/2U3VbeFfW5
— SingularityNET (@SingularityNET) March 27, 2024
The merger proposal comes at a time of exponential growth for AI projects and seeks to counteract the increasing centralization in the development and use of AI. If the merger is approved, the new entity, called the Superintelligence Collective, aims to offer a platform for developers willing to compete against centralized and proprietary technologies.
A Merger to Challenge Centralized AI Leadership
The alliance would involve the migration of tokens, with Fetch.AI leading the process and becoming ASI. SingularityNET’s AGIX tokens and Ocean Protocol’s OCEAN tokens would also migrate to ASI. It is estimated that the new ASI token would have a fully diluted valuation of approximately $7.5 billion, placing it among the top 20 most valuable cryptocurrency projects in the market.
The leadership of the Superintelligence Collective would be led by Ben Goertzel as CEO, Humayun Sheikh as President, and Trent McConaghy in an unspecified role. Although the organizations guiding the development of the three merged networks will continue to operate independently, they will collaborate closely in the ASI ecosystem and the operation of the Superintelligence Collective.
The project leaders are excited about the merger, believing it will accelerate investments in AGI and lead to a more democratic and trustworthy AI ecosystem. Additionally, a discussion on token merger will be held at a joint event at Fetch.AI, where the details and implications of this innovative proposal will be addressed.
