Launch of the Artificial Superintelligence Alliance: Consolidating FET, OCEAN, and AGIX into the ASI Token

In a significant move towards decentralized artificial intelligence, Fetch.ai, Ocean Protocol, and SingularityNET have come together to form the Artificial Superintelligence Alliance, integrating their tokens into the new ASI token.

This marks a pivotal moment in the AI and blockchain industries, setting a new precedent for collaboration and innovation. Discover the details of this exciting development and what it means for the future of AI.

Formation of the Decentralized AI Group "Artificial Superintelligence Alliance"

On March 27, 2024, three major blockchain and cryptocurrency projects related to Artificial Intelligence (AI) - Fetch.ai, Ocean Protocol, and SingularityNET - announced the establishment of a decentralized AI group named the Artificial Superintelligence Alliance.

This alliance aims to be a decentralized AI collective that serves as an alternative to existing AI projects managed by major tech companies. It is dedicated to developing Artificial General Intelligence (AGI) in an open, democratic, and decentralized manner.

The newly formed alliance will be chaired by Mr. Humayun Sheikh of Fetch.ai, with Mr. Ben Goertzel of SingularityNET serving as CEO. Mr. Trent McConaghy and Mr. Bruce Pon of Ocean Protocol will be responsible for the governance of the alliance.

Despite the formation of this alliance, each participating foundation will continue to operate as an independent legal entity, with no changes to their current leadership, teams, communities, or token treasuries. All ongoing initiatives within each project are set to continue as planned.

Integration of $FET, $OCEAN, and $AGIX into the $ASI Token

Fetch.ai, Ocean Protocol, and SingularityNET are blockchain projects related to AI, each with its cryptocurrency. The announcement revealed that the tokens issued by these projects - $FET, $OCEAN, and $AGIX - will be consolidated into a new token named $ASI.

According to the official announcement, the total value of $FET, $OCEAN, and $AGIX amounted to $7.6 billion as of March 26, 2024.

This significant consolidation has garnered attention as a major move in the cryptocurrency industry, highlighting the formation of a large-scale decentralized AI collective.

The integrated $ASI token is intended to act as a glue for aligning individual incentives within a machine economy, functioning as the native currency.

The $ASI token will be used to secure public networks as a data access token and unlock computation without the need for traditional banking transactions or payment rails.

The total supply of $ASI tokens is approximately 2.63 billion ASI, with a starting price of $2.82.

Required Actions for Existing Token Holders

The following are the reported actions to be taken by token holders of $FET, $OCEAN, and $AGIX tokens issued by each project.

If $FET, $OCEAN, or $AGIX is held on an exchange, the tokens are automatically labeled as "$ASI tokens" and the holders themselves do not need to do anything.

If $FET, $OCEAN, and $AGIX are held in offline hardware wallets, a "token swap mechanism that allows each token to be exchanged for $ASI tokens" can be used. Since this feature is available indefinitely and the exchange rate is fixed, there is no need to rush to exchange them. The exchange rates are as follows.

Final Decisions Through Community Governance Voting

It's important to note that the final decisions will be made through governance voting within each community, requiring a majority approval. The governance voting is scheduled to start on April 2, 2024.

For more detailed information regarding this collaboration, refer to the official announcement pages of each project linked below:

• Fetch.ai announcement
• Ocean Protocol announcement
• SingularityNET announcement

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