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SingularityNet, Fetch.ai, and Ocean Protocol have joined forces to form the Artificial Superintelligence Alliance (ASI) – in this article discover everything you need to know about ASI – could there be an ASI token?
According to Grand View Research, spending on hardware, software, and other associated costs related to artificial intelligence (AI) soared to over $200 billion. This figure, the research firm added, will cross the $1.8 trillion level in the next six years.
Ahead of this, players across the globe, especially in crypto, are preparing to take over. In an update on April 16, SingularityNet, Fetch.ai, and Ocean Protocol said their proposal to join forces received overwhelming support from their respective communities.
The Merger And Birth of ASI: Here’s the ASI Token Details
Now, they have partnered to create the Artificial Superintelligence Alliance (ASI), which has a clear objective: to accelerate the development and deployment of AI using blockchain.
As part of the deal, SingularityNET’s AGIX, Ocean Protocol’s OCEAN, and Fetch.ai‘s FET will merge to become one token, ASI. This new ASI token will launch on May 24 with a project market cap exceeding $7 billion.
There will be changes to tokenomics as well. ASI will have a total supply of 2.6 billion.
As part of the deal, AGIX and OCEAN tokens will be converted into ASI at a set ratio of 0.433226:1 and 0.433350:1, respectively.
Holders of SingularityNet (AGIX) and Ocean Protocol (OCEAN) tokens have overwhelmingly approved the merger, paving the way for the launch of the ASI token on May 24.
What’s The Long Term Vision Of ASI?
As mentioned earlier, this merger aims to accelerate the development of AI solutions, especially Artificial General Intelligence (AGI).
Even so, this won’t be possible without first creating a decentralized infrastructure that promotes ethical and responsible development.
With this guide, the ASI believes they will have the muscle to take on big tech, including Google, and take the leading seat in AI development.
According to Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, the merger “marks the beginning of a new chapter in AI development, where our collective efforts will drive progress towards decentralized AGI and ASI.”
Currently, the alliance is working on three distinct product pipelines, primarily:
- Pushing for the development and deployment of AI agents in core business operations of integrating partners. To do this, they will use Fetch.ai’s existing developer base.
- Build powerful AI models capable of understanding and responding to human language.
- Prioritizing secure and efficient data sharing. This is essential for AI development.
The Bottom Line: The Future of AI is Now
The launch announcement clearly shows that these partners are eager to accelerate AI development.
At the same time, they will build a robust and decentralized infrastructure needed for the next stage of AI evolution.
If the alliance walks the talk, their combined expertise might help commercialize groundbreaking technologies, cementing their position in the sphere.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
