Three top AI projects surge over 30% following rumors of token merge – report Three top AI projects surge over 30% following rumors of token merge – report
Fetch, Singularity Net, and Ocean Protocol all surged following a Bloomberg article suggesting a token merge.
2 min read
Updated: Mar. 27, 2024 at 5:03 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
UPDATE: The merger has been confirmed via email. Full details can be found here: Fetch, Ocean, SingularityNET tokens merge into single ASI token with $7.6 billion market cap
Three blockchain-based artificial intelligence companies are in discussions to merge their crypto tokens to develop a decentralized AI platform, according to a report by Bloomberg.
The companies involved in the potential merger are SingularityNET, Fetch.ai, and Ocean Protocol, as reported by people familiar with the matter who asked to remain anonymous due to the private nature of the information.
The tokens have reacted positively to the news, with SingluarityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) up 12%, 15%, and 34%, respectively, as of press time. The sector is up 23% over the past seven days, according to CryptoSlate data, with all three tokens now in the top ten.
As per Bloomberg’s sources, the proposed merger would involve consolidating the companies’ tokens into a single ASI token with a fully diluted value of approximately $7.5 billion. The deal, which could be announced as early as Wednesday, would require approval from the members of each community.
Bloomberg reports that, under the terms of the potential merger, the three platforms would continue to operate as separate entities while collaborating under the guidance of a “Superintelligence Collective” led by SingularityNET founder and CEO Ben Goertzel. According to the sources cited by Bloomberg, Fetch.ai CEO Humayun Sheikh, an early investor in Google’s AI acquisition DeepMind, would serve as chairman.
Bloomberg notes that emerging AI-oriented platforms like SingularityNET, Fetch.ai, and Ocean Protocol are racing to develop decentralized AI technology on blockchain, aiming to prevent the concentration of control in the hands of large, shareholder-driven corporations such as Microsoft, Google, and Facebook.
Representatives for SingularityNET, Fetch.ai, and Ocean Protocol declined to comment on the matter, according to Bloomberg.
As of press time, the projects have disclosed no official statements or information regarding the potential merger via their social media channels or official blogs. The decentralized AI crypto community awaits further details on the proposed ASI token and its implications for future decentralized AI development on blockchain.
🤖 Top AI Crypto Assets
View All| # | Name | Price | 24H % | 7D % | 30D % | Market Cap | 24H Vol | ATH | % ATH |
|---|---|---|---|---|---|---|---|---|---|
 ICP Internet Computer | $10.6306 | -0.24% | -20.96% | +13.75% | $5.08B | $340.39M | $342.229 | -97% | |
 TAO Bittensor | $488.649 | +4.78% | -15.86% | -3.81% | $3.61B | $492.66M | $769.133 | -36% | |
 FET Artificial Superintelligence Alliance | $1.36480 | +1.86% | -24.13% | +8.01% | $3.32B | $556.86M | $3.47064 | -61% | |
 VIRTUAL Virtuals Protocol | $2.76254 | +19.44% | +10.6% | +392.6% | $2.76B | $359.57M | $3.30395 | -16% | |
 THETA Theta | $2.11603 | -0.27% | -23.33% | +27.07% | $2.12B | $107.72M | $16.5852 | -87% | |
 GRT The Graph | $0.21750 | +0.35% | -24.16% | +0.04% | $2.08B | $166.29M | $2.65929 | -92% | |
 WLD Worldcoin | $2.36380 | +2.22% | -23.06% | +6.15% | $1.88B | $657.28M | $11.8506 | -80% | |
 FARTCOIN Fartcoin | $0.96924 | -22.35% | +36.87% | $969.24M | $264.77M | $1.29526 | -25% | ||
 OCEAN Ocean Protocol | $0.60188 | +1.79% | -22.26% | +10.88% | $862.39M | $751.16K | $1.94072 | -69% | |
 AI16Z ai16z | $0.76475 | +12.61% | -15.24% | $841.22M | $43.42M |
Source: CryptoSlate AI Crypto Sector Data
Mentioned in this article
Author 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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In this article
Fetch.AI, founded in 2017 and launched on Binance in March 2019, is an innovative platform combining artificial intelligence with blockchain technology.
SingularityNET
$0.59600
SingularityNET is a decentralized marketplace for AI services.
Ocean Protocol
$0.60188
Ocean Protocol is a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements.