Artificial Superintelligence Alliance Merging FET, AGIX and OCEAN Tokens to Launch ASI Token on May 24th

Blockchain-based AI marketplace SingularityNet (AGIX), decentralized multi-agent AI platform FetchAI (FET), and decentralized data exchange protocol Ocean (OCEAN) jointly approve a proposal to merge their respective tokens into the Artificial Superintelligence Alliance (ASI). It was announced that it had been done. ). The merger, estimated to be worth $7.5 billion, is scheduled to open in early May. The culmination of the merger will be the official launch of the ASI token on May 24th.

The token merger involves migrating AGIX tokens to ASI at a 0.433350:1 ratio. Likewise, FET tokens will be converted to ASI at a 1:1 ratio, resulting in a total supply of 26.3055 million tokens. OCEAN tokens will also be migrated to ASI at a rate of 0.433226 to 1.

At the time of writing, AGIX is trading close to $0.80, down more than 9%. According to CoinMarketCap data, the price of FET is currently trading at $1.96, reflecting a 12% decline, while OCEAN is trading at just over $0.80, down more than 9% in the last 24 hours.

The merger is expected to catapult the new token into the top 20 cryptocurrencies by market capitalization.

SingularityNet, FetchAI and Ocean Forge Partner to Accelerate AGI Development and Access

ASI represents a notable AI research and development organization. This collaboration between projects is an important milestone in responding to the rapid expansion of AI initiatives and efforts to disrupt the proliferation of major companies in AI development, applications, and monetization.

Within the framework of the alliance, the three companies will remain separate entities but will work closely together within the integrated ASI token economy ecosystem and alliance operations. ASI plans to accelerate the pursuit of AGI among participants by building a broad, open-source, decentralized network through the use of tokens.

The recent token merger is expected to accelerate funding for AGI, fuel the advancement of cutting-edge AI, and provide broader entry into AI platforms and extensive databases.

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