SingularityNet, Fetch.ai, and Ocean protocols have gained approval from tokenholders for a merger worth $7.5 billion. The merger will result in the creation of the Artificial Superintelligence Alliance (ASI) project. As part of the merger, the Fetch.AI (FET) token will transition into the ASI token, with a total supply of 2.6 billion. SingularityNet (AGIX) and Ocean (OCEAN) tokens will also be converted into ASI tokens at a ratio of approximately 0.43:1. The ASI project is set to launch on May 24.
The chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, Humayun Sheikh, stated that the mission of the alliance is to establish a decentralized AI infrastructure on a large scale while ensuring ethical and trustworthy practices. Sheikh believes that combining the platforms of the three protocols will empower developers and users, creating a more democratic and transparent AI ecosystem.
The ASI project is currently focusing on three main areas: deploying AI agents in commercial settings, developing neural symbolic language learning models (LLMs), and facilitating AI data sharing and utilization. Sheikh explained that in the near term, the alliance expects to generate revenue by launching the agentic network for deployment and deploying various commercial products that enhance AI applications.
Looking ahead, the ASI project plans to invest further in its GPU infrastructure to support its commercial, computing, and data initiatives. To achieve this, Fetch.ai recently launched a $100 million investment to deploy Nvidia H200, H100, and A100 GPUs, creating a platform for developers and users to leverage computing power.
Fetch.ai, based in Cambridge, utilizes LLMs and AI agents in its computing marketplace, which connects users with AI-powered services. SingularityNET, headquartered in Zug, Switzerland, explores the application of AI in various fields, including finance, robotics, biomedical AI, media, arts, and entertainment. Ocean, based in Singapore, enables businesses and individuals to trade tokenized data assets through its platform.
The integration of blockchain and AI has shown significant potential, particularly with the rise of LLMs like ChatGPT. Sol Nasisi, founder and CEO of Booksie, discussed in an interview the possibility of AI and blockchain enabling self-publishing book platforms in the near future.
Overall, the SingularityNet, Fetch.ai, and Ocean merger is expected to drive decentralized AI development and foster innovation in the field.