Fetch.ai, SingularityNET, and Ocean Protocol, prominent figures in decentralized AI, disclosed intentions to finalize the merger of the Artificial Superintelligence Alliance (ASI) by June 2024, as per a statement to CryptoSlate on May 29.

The merger will consolidate the native tokens of these AI-centric protocols into the ASI token, with a total supply of 2.63055 billion tokens, establishing ASI as the largest open-source, decentralized network in the AI industry. As of May 28, the new token holds a market cap of $5.8 billion.

Token holders of FET can transition to ASI through a token migration contract by June 11, while holders of SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens can exchange their tokens by June 13.

Scheduled for completion three months post the initial proposal, the merger aims to propel AI growth, expedite investments in Artificial General Intelligence (AGI), and challenge Big Tech's supremacy in AI technology development and commercialization.

The merger seeks to accelerate the expansion of decentralized AI infrastructure at scale, establishing the groundwork for an open, scalable AI ecosystem that utilizes blockchain for ethical and reliable AI development and deployment.

Ben Goertzel, CEO of the ASI Alliance, hailed the merger as a pivotal moment for AI, highlighting the alliance's mission to amalgamate the strengths of the three platforms for significant progress.

Humayun Sheikh, CEO & Founder of Fetch.ai and ASI Chairman, expressed optimism about the Alliance's potential to challenge Big Tech's control over AI narratives and directions, emphasizing that the merger lays the groundwork for others sharing a similar mission to effect meaningful change.