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Ocean Protocol, SingularityNet, and FetchAI Propose Merger to Create the Biggest Decentralized AI Ecosystem

by Busines Newswire
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Three AI Projects Aim to Build Decentralized AI Ecosystem

The three well-known crypto AI projects, Ocean Protocol, FetchAO, and SingularityNET, have revealed their plan to merge and build what could possibly be the world’s biggest decentralized artificial intelligence (AI) ecosystem.

According to the announcement, the merger, which the community must first approve, will accelerate the development of decentralized Artificial Superintelligence (ASI) and Artificial General Intelligence (AGI). The latter focuses on creating an AI that’s able to copy the reasoning capabilities of humans, while the former seeks to break the boundaries that AGI sets.

The Superintelligence Collective

The merger, to be called Superintelligence Collective, pulls together the strengths of the 3 projects to build a powerful option to the existing artificial intelligence projects that Big Tech companies control. FetchAI is building a Web3 protocol for deploying AI apps, while SingularityNET is creating an AI-driven marketplace on the blockchain. Ocean Protocol, on the other hand, aims to build a decentralized data exchange.

The collaboration comes at a time when more crypto projects, including Crypto Innovate bot, are capitalizing on AI technology to offer users unique services.

Decentralized AI has become a major topic in recent months. This concept intends to facilitate direct interactions between users and developers, which AI projects built by big firms like OpenAI, Anthropic, Meta, Google, and Microsoft do not support. According to FetchAI CEO Humayun Sheikh, a decentralized AI ecosystem will open doors for anyone across the world to contribute and will boost data privacy.

Ocean Protocol, SingularityNet, and FetchAI Propose Token Migration

The proposed merger includes the migration of the native tokens of the three AI projects. That means FetchAI’s FET, Ocean Protocol’s OCEAN, and SingularityNET’s AGIX will be moved to ASI, and after the merger is approved by the community, a new ASI token will be launched. According to crypto analysts, $ASI will start trading at around $2.79 with a Fully Diluted Valuation of about $7.4 billion. The token could become a 20-top crypto asset based on market capitalization.

The three AI projects have announced they will host an X joint Spaces on Thursday at 20:00 GMT to discuss the token migration.

So, who are the leaders of the Superintelligence Collective? According to the merger proposal, prominent AI researcher Ben Goertzel from SingularityNET will serve as the entity’s CEO, while Trent McConaghy from Ocean Protocol and Humayun Sheikh will join the board of directors.