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Token Holders Approve $7.5 Billion AI Merger

by SuperiorInvest

Token holders of the SingularityNet, Fetch.ai, and Ocean protocols have approved a $7.5 billion merger that would create a combined Artificial Super Intelligence Alliance (ASI) project.

According to the announcement on April 16, the Fetch.AI token (FET) will become the ASI token with a total supply of 2.6 billion. Meanwhile, SingularityNet (AGIX) and Ocean (OCEAN) tokens will be converted to ASI in approximate ratios of 0.43:1, and ASI tokens will have a combined value of $7.5 billion after the merger. The launch of the ASI is scheduled for May 24.

“Our mission is to create a decentralized AI infrastructure at scale, ensuring ethical and trustworthy practices,” said Humayun Sheikh, president of the Artificial Superintelligence Alliance and CEO of Fetch.ai. “By combining our platforms, we empower both developers and users, fostering a more democratic and transparent AI ecosystem.”

The ASI is currently examining three distinct product lines: deployment of AI agents in commercial environments, neural symbolic language learning models (LLM), and AI data sharing and utilization. “In the near term, we anticipate generating revenue as we launch the agent network for deployment,” Sheikh told Cointelegraph in a statement. “In the short term, we will focus on deploying numerous commercial products that bring AI applications to life.”

As for the upcoming project roadmap, ASI plans to invest more in its GPU infrastructure for its business, compute, and data efforts. Last month, Fetch.ai launched a $100 million investment to deploy Nvidia H200, H100, and A100 GPUs to create a platform for developers and users to utilize the computing power.

Based in Cambridge, Fetch.ai uses LLM and AI agents for its IT marketplace that connects users with AI-based services. Meanwhile, SingularityNET, based in Zug, Switzerland, is exploring the use of AI in fields such as finance, robotics, biomedical AI, media, arts and entertainment. Finally, Singapore-based Ocean allows companies and individuals to exchange tokenized data assets through its platform.

Blockchain has recognized important synergies with AI since the popularization of LLMs like ChatGPT last year. In an interview with Cointelegraph on April 12, Booksie founder and CEO Sol Nasisi discussed the potential of artificial intelligence and blockchain to enable self-publishing book platforms in the near future.

Related: SingularityNet, Fetch.AI and Ocean Protocol Merger Will Boost Decentralized AI Development: ChainGPT CEO

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