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The teams from Fetch.ai, Ocean Protocol, and Singularitynet (SNET), three top projects in artificial intelligence (AI) on the blockchain, have announced their intention to amalgamate their tokens into a unified cryptocurrency named “artificial superintelligence (ASI).”
3 Top AI Tokens to Combine Into a Single Coin Called ‘ASI’
In a communication dispatched to Bitcoin.com News, the collaborative endeavor was unveiled by the project teams developing AI-centric blockchain innovation. They plan to merge their three distinct AI tokens – fetch.ai (FET), singularitynet (AGIX), and ocean protocol (OCEAN) – into a single digital asset, christened “ASI,” an acronym for “artificial superintelligence.”
Following the announcement, all three cryptocurrencies experienced significant increases in value, each climbing by double-digit percentages. The prominence of AI tokens within the cryptocurrency landscape has surged, with their collective valuation approaching $30 billion. Moreover, the sector dedicated to AI in cryptocurrency has seen an upward trend exceeding 20% in the last week alone.
According to the project teams, this fusion is the brainchild of three luminary figures in the decentralized AI arena. Dr. Ben Goertzel, known as the “Father of AGI,” established SNET as a blockchain framework and marketplace for AI services. Fetch.ai was conceived by Deep Mind’s initial investor, Humayun Sheikh, as a decentralized platform for the development and monetization of AI applications.
Meanwhile, Trent McConaghy has made significant contributions to Ocean Protocol, creating a data exchange platform to facilitate the trading of tokenized data assets, powered by AI. Ocean Protocol’s CEO and co-founder, Bruce Pon, asserts that the merger holds the potential to fulfill the ambition of creating a comprehensively integrated suite of decentralized technologies, equipped to achieve global competitiveness. According to the announcement, ASI’s fully diluted valuation is estimated to be approximately $7.5 billion.
“The combination of our technologies creates a leader in R&D, applications, and commercialization of AGI,” Pon remarked in a note sent to Bitcoin.com News. “The unified ASI token is the glue to orchestrate all actors with common incentives. ASI tokens are used to secure the public network, as data access tokens and to unlock computation without needing traditional banking and payment rails. It is the native currency for the machine economy.”
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