Markets News Report Technology
April 16, 2024

Artificial Superintelligence Alliance To Merge FET, AGIX, And OCEAN Tokens, Launch ASI Token On May 24

In Brief

Artificial Superintelligence Alliance announced the approval of a proposal to merge AGIX, FET and OCEAN tokens into ASI token. 

Artificial Superintelligence Alliance To Merge FET, AGIX, And OCEAN Tokens, Launch ASI Token On May 24

Blockchain-based AI marketplace SingularityNet (AGIX), decentralized multi-agent AI platform FetchAI (FET), and decentralized data exchange protocol Ocean (OCEAN) have jointly announced the approval of a proposal to merge their respective tokens into the Artificial Superintelligence Alliance (ASI). The merger, estimated at $7.5 billion, is slated for an early May launch. The merger’s culmination will result in the official launch of the ASI token on May 24th.

The token merger will involve migrating AGIX tokens to ASI at a rate of 0.433350 to 1. Similarly, FET tokens will be converted to ASI at a 1 to 1 ratio, resulting in a total supply of 2,630.55 million tokens. OCEAN tokens will also undergo migration to ASI, with an exchange rate of 0.433226 to 1.

As of the writing time, AGIX is trading close to $0.80, marking a decrease of more than 9%. FET is currently priced at $1.96, reflecting a decline of 12%, while OCEAN is trading slightly above $0.80, with a decline of over 9% in the last 24 hours, as per CoinMarketCap data.

The merger is anticipated to elevate this new token into the top 20 cryptocurrencies by market capitalization.

SingularityNet, FetchAI And Ocean Forge Alliance To Drive AGI Development And Access

The ASI represents a notable AI research and development entity. This collaboration between projects marks a significant milestone in response to the rapid expansion of AI initiatives and endeavors to disrupt the prevalence of major corporations in the development of AI, application, and revenue generation.

Within the framework of the alliance, the three companies remain distinct entities but will collaborate closely within the unified ASI tokenomic ecosystem and the alliance’s operations. Through token usage, ASI plans to establish an extensive open-source decentralized network, expediting the pursuit of AGI among its participants.

The recent token merger is anticipated to accelerate funding for AGI, fostering the advancement of state-of-the-art AI and providing broader entry to AI platforms and extensive databases.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
SSV Network Announces ‘Alan’ Scaling Upgrade For Mainnet On November 25
News Report Technology
SSV Network Announces ‘Alan’ Scaling Upgrade For Mainnet On November 25
November 22, 2024
Gate Ventures Welcomes Laura K. Inamedinova As Principal, Establishing Fund’s Strategic Presence In MENA Region
Business News Report Technology
Gate Ventures Welcomes Laura K. Inamedinova As Principal, Establishing Fund’s Strategic Presence In MENA Region
November 22, 2024
CoinList And Sui Introduce SuiHub Global Accelerator, Accepting Applications Until January 10
News Report Technology
CoinList And Sui Introduce SuiHub Global Accelerator, Accepting Applications Until January 10
November 22, 2024
Printemps: First Department Store Network In Europe To Accept Crypto Payments Via Binance Pay And Lyzi
News Report Technology
Printemps: First Department Store Network In Europe To Accept Crypto Payments Via Binance Pay And Lyzi
November 22, 2024