SingularityNet, Fetch.ai, and Ocean protocols have received approval from their tokenholders for a merger worth $7.5 billion. This merger will create the Artificial Superintelligence Alliance (ASI) project, which aims to establish a decentralized AI infrastructure on a large scale. The Fetch.AI (FET) token will be rebranded as the ASI token, with a total supply of 2.6 billion. SingularityNet (AGIX) and Ocean (OCEAN) tokens will be converted into ASI tokens at a ratio of approximately 0.43:1. The ASI project is set to launch on May 24.
Humayun Sheikh, the chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, highlighted the mission of the ASI project, which is to create a democratic and transparent AI ecosystem while ensuring ethical and trustworthy practices. By combining the platforms of SingularityNet, Fetch.ai, and Ocean, the project aims to empower developers and users in the AI field.
The ASI project is currently focusing on three key areas: deploying AI agents in commercial settings, developing neural symbolic language learning models (LLMs), and facilitating AI data sharing and utilization. Sheikh stated that they anticipate generating revenue in the near term through the launch of the agentic network for deployment. In the short term, the project will prioritize deploying various commercial products to enhance AI applications.
In terms of future plans, the ASI project intends to further invest in its GPU infrastructure to support its commercial, computing, and data initiatives. Recently, Fetch.ai launched a $100 million investment to deploy Nvidia H200, H100, and A100 GPUs, providing developers and users with access to significant 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 use of AI in various fields such as finance, robotics, biomedical AI, media, arts, and entertainment. Ocean, based in Singapore, enables the trading of tokenized data assets for businesses and individuals through its platform.
The merging of blockchain technology with AI has shown great potential, particularly with the rise of LLMs like ChatGPT. Sol Nasisi, the founder and CEO of Booksie, discussed the possibility of AI and blockchain enabling self-publishing book platforms in the near future, highlighting the synergies between the two technologies.