The Artificial Superintelligence Alliance (ASI) has announced that their merger, uniting the capabilities of SingularityNET, Fetch.ai, and Ocean Protocol, will be finalized on June 13, 2024. This event will mark the official listing of the $ASI token, which is anticipated to offer an efficient and strong AI network that could potentially compete with the current large firms in the AI market.

Token Rebranding and Migration

Before the merger, the current $FET tokens will be renamed to $ASI from June 11, 2024. The process of $AGIX and $OCEAN token conversion into $ASI will be facilitated through a specially designed token migration contract, allowing more than 200,000 community members to engage in a safe and audited swap.

Benefits of the Merger

Ben Goertzel, the chief executive of ASI Alliance, emphasized the importance of this merger, stating that it "paves the way for a new era in AI, combining our strengths to achieve unprecedented advancements." The merger is expected to create a culture that supports the development of decentralized AGI and super-intelligence tools.

Economic Impact and Market Potential

The $ASI token has a fully diluted market capitalization of $6 billion as of May 28, 2024, and has the potential to substantially influence the cryptocurrency market. The fixed exchange rates for token swaps have been designed to maintain equity and fairness in the distribution of the new token, providing clarity and confidence for current holders.

Integration and Synergies

The merger is expected to bring new synergies and innovations through the integration of Fetch's autonomous AI agents, Ocean Protocol's data sharing and monetization framework, and SingularityNET's AI integration research and development. This integration is expected to help drive the pace of AI technologies commercialization and spread their use across different sectors.

Adjustments to Existing Incentive Programs

The merger will also bring changes to the incentives for data farming in Ocean Protocol. A governance vote conducted on March 28 halted the program, with further plans to be aligned under the new ASI governance structures. However, existing veOCEAN holders will continue to receive rewards, ensuring community support and stability during the transition.

The launch of the $ASI token following the merger of SingularityNET, Fetch.ai, and Ocean Protocol represents a significant milestone in the AI technology landscape, with the potential to drive innovation and competition in the industry.