Fetch.ai, SingularityNET, and Ocean Protocol: The Merger That Brings Artificial Superintelligence to Life

The world of Artificial Intelligence (AI) is experiencing unprecedented acceleration, thanks to technological advancements and the proliferation of large neural networks. In this context, three giants of the Blockchain world—Fetch.ai, SingularityNET, and Ocean Protocol—have announced their merger to create a new entity, the Superintelligence Alliance, which aims to become the largest independent player in AI research and development.

Although both Blockchain and AI have been two of the most impactful trends in recent years, we have rarely seen these technologies work together within a single project.

In this regard, Humayun Sheikh, CEO and co-founder of Fetch.ai, has been a true visionary, as his project focused on integrating these two technologies well before AI monopolized public and media attention.

In addition to the renowned Fetch.ai, SingularityNET has been working on its Blockchain platform since 2017, aimed at facilitating the creation, sharing, and monetization of AI services on a global scale.

Ocean Protocol, on the other hand, represents, within the anatomy of this Cerberus, the head less focused on the AI landscape and more purist in the Blockchain domain. It presents itself as an open-source protocol designed to allow companies and individuals to exchange and monetize data and services. The union of these three projects will give birth to a new universal token, known as Artificial Superintelligence ($ASI).

The combined value of the Alliance is estimated at $7.5 billion, with a total supply of 2.631 billion tokens, setting a significant benchmark in the cryptocurrency market. The market cap generated by the merger would be very close to that of projects like Polygon, Litecoin, and Chainlink, placing ASI among the top 20 cryptocurrencies by market capitalization.

The Mission of the Alliance

The Superintelligence Alliance is born with the vision of a future where AI is not controlled by a few large companies but is instead decentralized, inclusive, and oriented toward the common good. The Alliance aims to offer an alternative to centralized monopolies and to build an integrated ecosystem that can support the development of superintelligence (as opposed to AGI, the AI model that the Alliance intends to surpass), giving companies, researchers, and governments the freedom to operate in an open and transparent environment.

To ensure solid and transparent governance, ASI will form a board of directors, with Humayun Sheikh from Fetch.ai as president, Ben Goertzel from SingularityNET as CEO, and Trent McConaghy and Bruce Pon from Ocean Protocol as board members. Each company will maintain its legal independence, with their teams, leadership, and ongoing initiatives continuing without interruption.

Do You Own $FET, $OCEAN, or $AGIX? Don’t Panic!

If you hold $FET, $OCEAN, and $AGIX tokens on an exchange, there’s nothing you need to do. The tokens will automatically be renamed as $ASI tokens. If you hold tokens on a hardware wallet, you will need to use a token swap mechanism, which will soon be available, to convert to $ASI at a 1:1 rate.

This swap option will be available indefinitely, and exchange rates will be fixed, so there is no need for users to rush to complete the swap. $FET will be used as the base token of the Alliance, it will be renamed $ASI, and an additional 1.48 billion tokens will be minted, with 867 million $ASI assigned to $AGIX holders and 611 million $ASI assigned to $OCEAN holders.

The total supply of $ASI tokens will therefore be 2.63 billion tokens. The exchange rate is set at 0.433226 $ASI per $OCEAN and 0.433350 $ASI per $AGIX. As mentioned earlier, the exchange rate will remain fixed, and there will be no deadline for completing the swaps.

Conclusion

The Superintelligence Alliance marks an important step towards a future where AI becomes a tool for humanity, free from monopolies and centralized controls. With strong governance and an ambitious mission, this new entity is ready to shape the future of AI in an open and inclusive way. With this merger, the Alliance positions itself to compete with the largest centralized companies, with the goal of further expanding through partners who share the same vision of decentralization and openness.

Works Cited

Charltons Quantum. Wikipedia,

https://charltonsquantum.com/three-major-ai-protocols-merge-to-form

-artificial-superintelligence-alliance/. Accessed 10 May 2024.

Fetch.AI. “Singularitynet and Ocean Protocol Unite to Create the

Superintelligence Alliance.” Fetch.ai, 27 March 2024,

https://fetch.ai/blog/fetch-ai-singularity-net-and-ocean-protocol-unite-t

o-create-the-superintelligence-alliance. Accessed 10 May 2024.

Oluwapelumi, Adejumo. “Fetch, Ocean, SingularityNET tokens merge into

single ASI token with $7.6 billion market cap.” CryptoSlate, 27 March

2024,

https://cryptoslate.com/fetch-ocean-singularitynet-tokens-merge-intosingle-