The planned merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the Artificial Superintelligence Alliance (ASI) has been postponed until July 15.

Back in March, the three networks announced their intention to consolidate their tokens into the ASI token, which will have a total supply of 2.63055 billion tokens. This move aims to establish ASI as the largest open-source, decentralized network in the AI industry, challenging the dominance of major tech companies in AI development and commercialization.

Reason for Delay

In a statement to CryptoSlate on June 11, the projects cited the need to meet technical requirements from their ecosystem partners as the cause for the delay.

They further explained that rescheduling would ensure a smooth transition to the new ASI network and token, as the token merger preparation involves handling complex integrations and coordinating various elements.

Initially, FET token holders were expected to migrate to ASI via a token migration contract starting on June 11, followed by AGIX and OCEAN holders. Now, all token holders will merge into the new ASI token simultaneously on July 15.

Until then, FET, AGIX, and OCEAN tokens will continue to trade independently on exchanges.

Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, emphasized that despite the delay, progress toward creating a decentralized superintelligence network remains strong. He stated:

“While the finalization of the ASI token merger is now scheduled for July due to necessary adjustments by our partners, the commitment and vision driving this alliance remain stronger than ever…Our teams are actively working with centralized exchanges to finalize the remaining steps.”

Ben Goertzel, CEO of the ASI Alliance, highlighted that the three-way token merger represents a significant milestone and anticipates exciting developments to come that will enhance the ecosystem’s growth.

Over the past 24 hours, the values of FET, AGIX, and OCEAN tokens have declined by an average of 10%. This price decrease reflects broader market trends, with Bitcoin also down 5% during the same period to approximately $66,000, according to data from CryptoSlate.