Three leading Artificial Intelligence (AI) protocols have announced a groundbreaking $7.6 billion merger to establish the Artificial Superintelligence Alliance, aimed at propelling the development of Artificial General Intelligence (AGI), as per a statement shared with CryptoSlate on March 27.

SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) have united forces to create an expansive decentralized network challenging the dominance of major tech giants in the AI sector.

Motivation behind the merger

The merger is fueled by the rapid expansion of AI and significant progress made by each project individually. By consolidating efforts, the alliance aims to create a robust decentralized AI infrastructure globally, hastening investments in AGI advancement.

The alliance has two primary goals—accelerating progress toward AGI and disrupting the hegemony of Big Tech over AI development, application, and commercialization.

Ben Goertzel, SingularityNET's CEO, stressed the necessity of safeguarding AGI and ASI from biased influences, advocating for a network of tokens capable of challenging Big Tech's dominance.

Humayun Sheikh, Fetch.ai's founder, echoed these sentiments, emphasizing the potential of the token merger to uphold ethical standards and transparency within AI, fostering a more democratic and trustworthy AI ecosystem.

Mechanism of the merger

The three decentralized AI networks will consolidate their native tokens—FET, OCEAN, and AGIX—into a unified ASI token with an estimated combined value of $7.6 billion.

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

Bruce Pon, Ocean Protocol's CEO, highlighted the ASI token's pivotal role in orchestrating all stakeholders with common incentives, serving as the native currency for the machine economy.

While the platforms will retain their autonomy, they will intensify collaboration through the new initiative, overseen by a governing council chaired by Humayun Sheikh. However, formalizing the alliance requires approval from each AI network's community through a voting process.

Goertzel expressed optimism about the proposed system's potential to revolutionize the global economy, ushering in a new era of decentralized AGI and ASI.

Following the initial announcement, all three tokens experienced a surge in value, albeit retracing alongside Bitcoin's decline below $70,000. As of press time, they have risen approximately 9–16% over the past 24 hours.