Fetch.ai, SingularityNET, and Ocean Protocol’s planned $7.5 billion ASI token to launch in May Fetch.ai, SingularityNET, and Ocean Protocol’s planned $7.5 billion ASI token to launch in May
Artificial intelligence was one of the leading narratives in the crypto industry during the first quarter of the year.
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Updated: Apr. 16, 2024 at 6:23 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The Artificial Superintelligence Alliance (ASI), comprising Fetch.ai (FET), SingluarityNET (AGIX),ย and Ocean Protocol (OCEAN), said the highly anticipated ASI token will be launched in May.
In an April 16 statement, the Alliance stated that the ASI token would merge the native digital assets of the three decentralized artificial intelligence protocols and rankย among the top 20 cryptocurrencies, boasting an estimated $7.5 billion market capitalization.
ASI token
According to the merger terms, FET will be rebranded as ASI, with a token supply of 2.63 billion. The native tokens of SingularityNET and Ocean Protocol would also be migrated to ASI, with conversion rates of 0.433350:1 and 0.433226:1, respectively.
This development arrived nearly a month after the initial proposal was unveiled. The merger was proposed to bolster artificial intelligence growth and expedite investments in Artificial General Intelligence (AGI). Additionally, the merger aims to disrupt the dominance of big technological companies in AI technology development and commercialization.
Dr. Ben Goertzel, Founder and CEO of SingularityNET, views the merger as a stride towards democratizing AI development.
Meanwhile, Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, said:
“This marks the beginning of a new chapter in AI development, where our collective efforts will drive progress towards decentralized AGI and ASI.”
AI among leading crypto narratives
CoinGecko’s report highlighted AI as one of the dominant narratives within the crypto industry during the first quarter of this year.
The sector experienced remarkable growth, boasting a staggering 222.0% in returns. Large-cap AI tokens led the charge, with AIOZ Network soaring by 480.2% and Fetch.ai by 378.3%.
Even the comparatively underperforming OriginTrail delivered a solid return of around 75% โ highlighting the widespread interest in AI within the crypto community.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Fetch.AI, founded in 2017 and launched on Binance in March 2019, is an innovative platform combining artificial intelligence with blockchain technology.
SingularityNET
$0.52724
SingularityNET is a decentralized marketplace for AI services.
Ocean Protocol
$0.52175
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.