The AI community is abuzz with the news of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) merging their tokens into a new cryptocurrency called ASI. Fetch.ai announced the highly anticipated merger on its official X account, stating that the process will commence on July 1.

The merger will unfold in two phases. In Phase I, AGIX and OCEAN tokens will temporarily merge into FET, before transitioning to the ASI ticker symbol. FET trading will remain uninterrupted during this rebranding process across platforms like CoinMarketCap and CoinGecko.

The primary focus of Phase 1 is to onboard exchanges and data aggregators while ensuring a smooth transition. Project names and logos will be updated on July 1, while AGIX and OCEAN will be delisted from exchanges. The migration platform will debut on the Singularity DAO Decentralized Applications (dApps) on the same day.

Phase 2 will concentrate on deploying ASI and onboarding the community. Self-custody holders will be prioritized, and ASI tokens will be launched across different chains. New migration contracts will be introduced as FET migrates to ASI. The conversion rates are set at 1 AGIX to 0.433350 ASI, 1 OCEAN to 0.433226 ASI, and 1 FET to 1 ASI.

The ASI Alliance has ensured that the migration contracts will remain open for years, allowing users ample time to convert their tokens. Individuals with funds locked in staking or various programs will have the flexibility to manually convert their tokens into ASI.

The merger represents a significant milestone for the AI community, as these three prominent projects unite to form the Artificial Superintelligence Alliance. The ASI token is expected to become a central and prominent AI narrative token, with the potential to rally as the merger gains traction.