These Three AI Cryptos Are Rumored to Merge
The companies involved in the potential merger are SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN), as reported by insiders who wish to remain anonymous due to the sensitive nature of the information.
These tokens have responded positively to the news, with AGIX, FET, and OCEAN rising by +5.5%, 4.4%, and 10.6% respectively in the last 24 hours.
The proposed merger also involves merging the companies' tokens into one token with the ticker ASI, with a total market capitalization of approximately $7.5 billion. The deal, expected to be announced on Wednesday (27/3/24), will require approval from the respective community members.
Remaining Separate Entities
According to the terms of the merger, the three platforms will continue to operate as separate entities while collaborating under the "Superintelligence Collective" led by SingularityNET's founder and CEO, Ben Goertzel. Fetch.ai CEO Humayun Sheikh is reportedly set to serve as chairman.
Emerging AI platforms like SingularityNET, Fetch.ai, and Ocean Protocol are racing to develop decentralized AI technology on the blockchain, aiming to prevent monopolies by major corporations like Microsoft, Google, and Meta.
These crypto projects have yet to release official statements or information regarding the potential merger through their social media channels or official blogs.
The crypto community is still awaiting further information about the proposed ASI token and its implications for the future development of decentralized AI.
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