Fetch.AI, SingularityNET, and Ocean Protocol, three influential entities at the forefront of decentralized AI innovation, have announced their collaborative efforts to finalize the merger of the Artificial Superintelligence Alliance (ASI) by June 2024, as disclosed in a press release shared with CryptoSlate on May 29.

The strategic merger is poised to amalgamate the distinct native tokens of these pioneering AI-focused protocols into the ASI token, which is projected to have a total supply of 2.63055 billion tokens. This transformative move aims to position ASI as the preeminent open-source, decentralized network within the AI industry landscape. Impressively, as of May 28, the newly formed ASI token has already garnered a substantial market capitalization of $5.8 billion.

In a concerted effort to facilitate a seamless transition, holders of Fetch.ai's FET tokens are encouraged to utilize a specialized token migration contract by June 11 to migrate to the ASI ecosystem. Similarly, holders of SingularityNET's AGIX and Ocean Protocol's OCEAN tokens are provided with the opportunity to exchange their tokens for ASI tokens by June 13.

The merger initiative, set to be finalized within three months following its proposal, embodies a strategic maneuver designed to catalyze AI advancement, accelerate investments in Artificial General Intelligence (AGI), and disrupt the prevailing dominance of Big Tech conglomerates in the realm of AI technology research, development, and commercialization.

Beyond merely consolidating resources, the ASI merger signifies a pivotal step towards fostering the widespread proliferation of decentralized AI infrastructure at an unprecedented scale. By laying the groundwork for an open, scalable AI ecosystem underpinned by blockchain technology, this collaborative endeavor seeks to redefine the ethical and dependable deployment of AI solutions.

Ben Goertzel, CEO of the ASI Alliance, lauded the merger as a watershed moment for the AI community, underscoring the synergistic fusion of capabilities from the three prominent platforms poised to drive significant strides forward. He remarked:

“This marks the genesis of a broader movement aimed at uniting diverse efforts towards the realization of beneficial decentralized AGI and super-intelligence. The ASI token serves not only as a symbolic emblem but also as a practical tool empowering our collective pursuit of leveraging cutting-edge AI, blockchain, and decentralized governance to propel us swiftly and effectively towards an extraordinary future for all.”

Echoing Goertzel's sentiments, Humayun Sheikh, CEO & Founder of Fetch.ai and ASI Chairman, emphasized the transformative potential of the alliance's increased economies of scale in reshaping the narrative and trajectory of AI development. Sheikh asserted:

“With our newfound economies of scale, the Alliance is poised to make meaningful inroads in reshaping the landscape of AI governance and innovation, countering the hegemony of Big Tech incumbents. While our journey ahead is undoubtedly long and arduous, this foundational step paves the way for like-minded visionaries to collaboratively effect transformative change.”