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The Emergence of the Artificial Superintelligence Alliance
The Artificial Superintelligence Alliance (ASI), composed of Fetch.ai (FET), SingluarityNET (AGIX), and Ocean Protocol (OCEAN), recently announced the upcoming launch of the ASI token in May. This development was shared in a statement released on April 16.
ASI Token Launch Details
The ASI token represents a significant endeavor, merging the native digital assets of the three decentralized artificial intelligence protocols. This token is projected to secure a position among the top 20 cryptocurrencies, with an estimated market capitalization of $7.5 billion.
As part of the merger, FET will be rebranded as ASI, with a total token supply of 2.63 billion. Additionally, the native tokens of SingluarityNET and Ocean Protocol will be transitioned to ASI, with conversion rates of 0.433350:1 and 0.433226:1, respectively.
Strategic Rationale
The decision to merge these entities was driven by the shared vision of advancing artificial intelligence capabilities and promoting investments in Artificial General Intelligence (AGI). Furthermore, the consolidation aims to challenge the predominant influence of major tech companies in the realm of AI technology development and commercialization.
Dr. Ben Goertzel, the Founder and CEO of SingularityNET, expressed optimism about the merger’s potential impact on democratizing AI development. Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, emphasized the collaborative nature of the initiative:
“This marks the beginning of a new chapter in AI development, where our collective efforts will drive progress towards decentralized AGI and ASI.”
The Rise of AI in the Crypto Landscape
AI has emerged as a prominent narrative within the cryptocurrency industry, as illustrated in CoinGecko’s recent report. During the first quarter of the year, the AI sector experienced remarkable growth, yielding significant returns of 222.0%. Noteworthy performances were observed in large-cap AI tokens such as AIOZ Network, which surged by 480.2%, and Fetch.ai, which saw a substantial increase of 378.3%. Even OriginTrail, typically considered underperforming, delivered a commendable return of approximately 75%, underscoring the widespread interest in AI among the crypto community.
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