In a move that could potentially reshape the landscape of artificial intelligence (AI) development, three prominent decentralized AI projects – Fetch.ai, Ocean Protocol, and SingularityNET – have announced their decision to merge and form the Artificial Superintelligence Alliance. According to a press release dated March 27, 2024, this alliance aims to create an open-source, decentralized platform that challenges the dominance of Big Tech companies in the AI sector.
The Artificial Superintelligence Alliance is the brainchild of three visionary leaders in the decentralized AI space: Dr. Ben Goertzel, the founder of SingularityNET; Humayun Sheikh, the creator of Fetch.ai; and Trent McConaghy, the founder of Ocean Protocol. By combining their expertise and resources, they seek to accelerate the development of Artificial General Intelligence (AGI) on the blockchain, ensuring that this transformative technology is accessible to all and not controlled by a select few.
One of the key aspects of the merger is the unification of the three projects’ native tokens – $FET, $OCEAN, and $AGIX – into a single token called $ASI. This new token will serve as the backbone of the merged decentralized AI network, which has a combined token value of $7.6 billion as of March 26, 2024.
The founders of the alliance believe that the development of AGI and Artificial Superintelligence (ASI) should be conducted in an open, transparent, and decentralized manner. By joining forces, they aim to create an AI ecosystem that prioritizes ethics, transparency, and direct collaboration between developers and users, minimizing the influence of centralized authorities and traditional gatekeepers.
Several factors have contributed to the decision to form the Artificial Superintelligence Alliance, including the rapid advancements in AI technology, the significant growth experienced by the three projects involved, and the desire to establish a robust, decentralized AI infrastructure. The alliance seeks to leverage the combined strengths of SNET, Fetch.ai, and Ocean Protocol to create a scalable platform that promotes ethical and trustworthy AI practices.
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Furthermore, the formation of the alliance is expected to drive increased investment in AGI research and development. By facilitating the commercialization of each foundation’s technology and providing access to cutting-edge AI platforms and extensive databases, the alliance hopes to accelerate progress towards realizing AGI on the blockchain.
If the token merger proposal is approved by the respective communities, $FET will be rebranded as $ASI, with a total supply of 2.63055 billion tokens. $AGIX and $OCEAN tokens will be converted to $ASI at rates of 0.433350:1 and 0.433226:1, respectively.
The Artificial Superintelligence Alliance will be governed by a council comprising Ben Goertzel, Humayun Sheikh, Bruce Pon, and Trent McConaghy. While the three merging networks’ parent organizations – Fetch.ai, Ocean Protocol Foundation, and SNET Foundation – will remain separate entities, they will work closely together within the shared $ASI tokenomic ecosystem.
The alliance has set its sights on ambitious objectives, such as developing a decentralized neural-symbolic AGI system that surpasses current large language models (LLMs) in areas like logical reasoning, scientific understanding, and creative expression. If successful, this system could have far-reaching implications for the global economy and usher in a new era of decentralized AGI and ASI.
Featured Image via Pixabay
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- Source: https://www.cryptoglobe.com/latest/2024/03/new-ai-alliance-proposes-7-6b-merger-of-fet-ocean-and-agix-tokens-to-form-asi-token/
