The most recent ASI coin has the potential to be one of the twenty most valuable cryptocurrencies in the ecosystem if legalized, having a fully diluted capitalization of $7.5 billion. The globe’s biggest decentralized artificial intelligence ecosystem is set to be created by the merger of three prominent decentralized AI projects: Fetch.ai, SingularityNET (SNET), and Ocean Protocol. The goal of the union is to get closer to artificial superintelligence (ASI) and faster approaching decentralized artificial intelligence with general intelligence (AGI), both of which are awaiting communal consent.
For the record, ASI intends to go above and beyond what AGI can achieve in every aspect. In contrast, AGI concentrates on creating an artificial intelligence that can replicate human intellectual skills. Therefore, despite the fact Iron Man’s AGI computer, J.A.R.V.I.S., is superior to Deep Thought, an ASI-powered computer found in “The Hitchhiker’s Guide to the Galaxy” fiction series.
The new organization, to be called the Superintelligence Collective, is going to combine the advantages of the three initiatives to produce an effective replacement for the Big Tech-controlled artificial intelligence efforts that are currently happening. Fetch.ai, a Web3 Technologies network for the emerging artificial intelligence ecosystem, is developing a decentralized multi-agent system for launching applications based on AI. SingularityNET has constructed a blockchain-based commerce and artificial intelligence framework, whereas Ocean Protocol has concentrated on creating a decentralized system for sharing information.
The collaboration arises from a phase of rapid and significant expansion in artificial intelligence initiatives, offering each leader a chance to establish a convincing option to the dominance of Big Tech in the domains of artificial intelligence creation, utilization, and financial gain.
It implies that they are going to be competing with prominent organizations such as OpenAI, Microsoft, Google, Meta, Anthropic, and others. However, generally, these platforms would provide an opportunity for developers who are interested in creating artificial intelligence models that can challenge centralized, exclusive systems.
The integration of their studies, organizations, technology, and services will establish a basis for constructing an adaptable decentralized artificial intelligence infrastructure that merges the various fields of concentration of every initiative and speeds up developments in artificial general intelligence research.
The issue of transparency and decentralization has emerged as a significant point of contention in the philosophical conversations concerning artificial intelligence. With the growing complexity of artificial intelligence, there has been a rise in the specifications and expenses associated with training improved models. It has highlighted the attractiveness of dispersed ecosystems to tiny contributors and the open-source ecosystem as a whole.
According to Fetch.ai President Humayun Sheikh, Decentralized AI enables immediate communication among creators and consumers, avoiding the conventional intermediaries of central authorities. This development improves the security of information and creates an environment for an even more constitutional and reliable artificial intelligence system. It also invites individuals from around the world to contribute.
The specifics of the transaction relate to the transfer of tokens, with Fetch.ai’s FET taking control and transforming into ASI. The AGIX tokens of SingularityNET and the OCEAN tokens of Ocean Protocol will be transferred to ASI. Once most people in each community approve the plan, the latest established ASI coin will be worth a Fully Diluted Valuation (FDV) of around 7.5 billion dollars by the 26th of March 2024.
The proposal includes merging tokens at an exchange rate of 0.433350 to 1 for SingularityNET participants, 0.433226 to 1 for Ocean Protocol, and Fetch.AI having an identity change while keeping the identical token quantity. Assuming the idea is adopted, the initial trading price for $ASI tokens should be $2.82.
This token merging is relatively rare but not unique. In the year 2022, NuCypher and Keep Network undertook a process of merger to form a novel venture known as Threshold Network Token, showcasing the promising outcomes that might arise from such partnerships. Following the acquisition news, SingularityNET experienced a rise of 10%, Fetch.AI saw an increase of 12.82%, and Ocean Protocol rocketed by nearly 23%.
Ben Goertzel will serve as the chief executive officer of the Superintelligence Collective. He is the artificial intelligence expert who first introduced the term “AGI” in 2005. Humayun Sheikh will accompany Goertzel from Fetch.AI as the leader and Trent McConaghy from Ocean Protocol. The organizations involved in the construction of the three integrating networks will maintain their distinct identities. Still, they will function extensively together in the unified ASI tokenomic environment and as members of the Superintelligence Collective.
The ASI token, with its diluted capitalization, has the potential to rank among the top twenty of the highest-valued digital currency projects. It would be positioned next to Uniswap and above other noteworthy projects such as Litecoin, DAI, and Stellar. Additionally, the acquisition would position Superintelligence Collective as the 2nd highest-valued artificial intelligence token in the cryptocurrency sector, with a market valuation of a minimum under $8.1 billion, just behind NEAR Protocol.
The project leadership have conveyed their passion for the merger, highlighting the common goal of establishing a decentralized, republican and welcoming artificial intelligence environment. The participants are of the belief that the union will speed up the allocation of funds towards Artificial General Intelligence (AGI) and establish the groundwork for an artificial intelligence ecosystem that is both constitutional and reliable.
All three projects will discuss the token merger in a collaborative event called Spaces on X at 8:00 p.m. GMT on Thursday, the 28th of March, in Fetch.AI’s record. The Spaces will have Dr. Ben Goertzel, Humayun Sheikh, Bruce Pon, and Trent McConaghy as contributors.
