Exciting developments are underway in the Artificial Intelligence (AI) community as Fetch.AI (FET) and SingularityNET (AGIX) have announced their long-awaited merger, marking a significant milestone in the integration of blockchain technologies. The merger will culminate in the creation of the ASI token, a pivotal step towards streamlining operations and enhancing collaboration within the AI and blockchain sectors.

Fetch.AI made the announcement via its official channels, detailing that the merger process will commence on July 1. Initially, the integration will involve AGIX and Ocean Protocol's OCEAN tokens merging into FET, paving the way for the subsequent transition to the unified ASI token. Importantly, trading of FET will continue uninterrupted during this transition period to ensure a seamless rebranding across major platforms such as CoinMarketCap and CoinGecko.

Phase 1 of the merger focuses on engaging exchanges and data aggregators to facilitate a smooth transition and prepare for the rebranding efforts. This phase lays the groundwork for subsequent updates to project names and logos effective July 1, coinciding with the delisting of AGIX and OCEAN tokens from exchanges. Additionally, the migration platform will debut on Singularity DAO's decentralized applications (dApps) platform on the same day.

Looking ahead, Phase 2 will concentrate on deploying the ASI token and engaging the community through various initiatives. Priority will be given to self-custody holders during this phase, with plans to launch ASI tokens across multiple blockchain networks. New migration contracts will facilitate the conversion process, with conversion rates set at 1 AGIX to 0.433350 ASI, 1 OCEAN to 0.433226 ASI, and 1 FET to 1 ASI.

The team has assured users that migration contracts will remain open for an extended period, allowing stakeholders ample time to convert their tokens. This approach ensures that individuals participating in staking or other programs have sufficient opportunities to manually migrate their holdings to ASI, underscoring a commitment to a smooth and inclusive transition process.

The introduction of the ASI token represents a strategic move towards fostering greater synergy and efficiency within the AI and blockchain landscapes, promising new avenues for innovation and collaboration in the evolving digital economy. #Fetch.AI