The Artificial Superintelligence Alliance (ASI), consisting of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), announced the imminent launch of the ASI token in May.

According to a statement released on April 16, the ASI token will amalgamate the native digital assets of the three decentralized artificial intelligence protocols and is projected to rank among the top 20 cryptocurrencies, with an estimated market capitalization of $7.5 billion.

Under the terms of the merger, FET will undergo rebranding as ASI, with a token supply of 2.63 billion. SingularityNET and Ocean Protocol's native tokens will also transition to ASI, with conversion rates of 0.433350:1 and 0.433226:1, respectively.

This development comes nearly a month after the initial proposal was unveiled, aiming to foster artificial intelligence growth and accelerate investments in Artificial General Intelligence (AGI). Additionally, the merger seeks to disrupt the dominance of major tech firms in AI technology development and commercialization.

Dr. Ben Goertzel, Founder and CEO of SingularityNET, sees the merger as a step towards democratizing AI development, while Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, views it as the beginning of a new era in AI development, driving progress towards decentralized AGI and ASI.

AI emerged as a prominent narrative within the crypto industry during the first quarter of the year, according to CoinGecko's report. The sector experienced significant growth, with large-cap AI tokens such as AIOZ Network and Fetch.ai leading the way, indicating widespread interest in AI within the crypto community.