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FET+OCEAN+AGIX=? Here’s What AI Coins Merger Could Mean For You

Last Updated March 27, 2024 12:54 PM
Giuseppe Ciccomascolo
Last Updated March 27, 2024 12:54 PM

Key Takeaways

  • SingularityNET, Fetch.ai, and Ocean Protocol are in talks to merge their tokens.
  • A new governing body, the Superintelligence Collective, would oversee collaboration.
  • The combined force aims to create a large-scale, open-source AI infrastructure.
  • Tokens prices jumped after the news.

SingularityNET, Fetch.ai, and Ocean Protocol are reportedly  in talks to merge their tokens into an ASI token, potentially valuing it at around $7.5 billion at full dilution, as per sources  familiar with the matter.

The proposed deal is reliant on approval from each project’s respective communities. The companies are in discussions not only to merge their cryptocurrency tokens but also to jointly develop a decentralized artificial intelligence (AI) platform.

The Merging Project

While maintaining their separate identities, the three platforms are poised to collaborate under the oversight of a “Superintelligence Collective” led by Ben Goertzel, the founder and CEO of SingularityNET, according to sources. Humayun Sheikh, CEO of Fetch.ai and an early investor in DeepMind, would assume the role of chairman, as indicated by insiders.

Under this arrangement, the native token of Fetch.ai (FET) will transition to ASI, standing for “artificial superintelligence,” boasting a total supply of approximately 2.63 billion tokens and an initial price of $2.82. The native tokens of SingularityNET (AGIX) and Ocean Protocol (OCEAN) will merge into ASI at conversion rates of roughly 0.433 to one.

This consolidation will result in ASI having a fully diluted market capitalization of approximately $7.5 billion.

The proposed amalgamated entity aims to establish an open decentralized AI infrastructure at scale. This would contrast with existing systems that may conceal their inner workings from the public.

Ben Goertzel To Lead “Superintelligence Collective”

Despite merging their tokens into the ASI token, SingularityNET, Fetch.ai, and Ocean Protocol will retain their operational independence. However, they will collaborate under the umbrella of the Superintelligence Collective. Ben Goertzel, the founder and CEO of SingularityNET, will lead the team.

At the helm of this new coalition, Fetch.ai CEO, Humayun Sheikh, known for his investment in DeepMind before its acquisition by Google, will serve as the chair.

The convergence of these entities underscores the growing momentum among AI-focused platforms to pioneer decentralized AI technology. Notably, decentralized AI aims to democratize access to AI technologies, moving away from the dominance of tech giants like Alphabet and Microsoft. They aim to ensure that companies prioritize more than just shareholder interests.

How Will Their Price React?

SingularityNET’s AGIX token hit an all-time high of $1.40 on March 9, but subsequently experienced a 34% drop, reaching a low of $0.91 on March 19. Since then, however, it has rebounded, initiating a new uptrend and returning to near its previous peak.

Fetch.ai‘s token set a new all-time high on March 27, peaking at $3.34 before slightly retracing. The ongoing upward momentum suggests further potential gains in the short term.

Since reaching its recent low of $2.40, it’s plausible that we’ve observed the emergence of a new five-wave uptrend. Within this trend, there appears to be further potential for the price to climb. Since wave five typically propels the price upwards, our next target is anticipated to hover slightly below $4.

Following its recent low of $2.40, Ocean Protocol surged to a higher high of $1.66. This marked a remarkable 37% increase within the last 24 hours.

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