The merger proposal involving SingularityNET, Fetch.ai, and Ocean Protocol has gained momentum with the endorsement of AGIX holders.
SingularityNET, an artificial intelligence (AI) protocol, has stated that most of its token holders have voted in favour of the proposed Artificial Superintelligence (ASI) alliance.
ASI Alliance Advances Towards SingularityNET Endorsement
The new development is a forward-thinking move by AGIX holders since it signals the start of the largest open-source, decentralized network.
However, the progression of decentralized Artificial General Intelligence (AGI) and, subsequently, ASI is the primary objective of this prospective network.
SingularityNET expresses gratitude to its holders for their active involvement in the voting process and support of the endeavour.
Notably, SingularityNET is collaborating with Fetch AI and Ocean Protocol on this mission.
Several productive discussions culminated in the trio’s agreement to combine their tokens into a single entity known as ASI.
Meanwhile, this is all in pursuit of the overarching objective of establishing an ASI Alliance-branded centralized AI platform.
As a result, the value of the merged AGIX, FET, and OCEAN tokens will be approximately $7.5 billion when entirely diluted.
The deal terms stated that the merger would not affect each entity’s separate operations.
Ocean Protocol, SingularityNET, and Fetch AI will continue to operate as distinct entities.
In addition, executives from Fetch AI and Ocean Protocol would provide additional support besides the Superintelligence Collective, which Ben Goertzel, the CEO of SingularityNET, leads. Their collaboration would be limited to that group.
The commendable accomplishment necessitated the endorsement of the community members of each AI company.
A few days later, voting for the ASI token merger commenced.
An X post from SingularityNET announced that AGIX token holders on Cardano and Ethereum may now participate in voting for the significant merger.
Simultaneously, Fetch AI initiated the voting process while excluding Ocean Protocol.
ASI Alliance Advocates AI and Blockchain Integration
The realization of the ASI Alliance platform appears imminent, as it has garnered support from constituents of the various communities that participated in the merger.
“It’s official! The ASI Alliance is launching — the world’s largest decentralized network for accelerating AGI and ASI,” as seen recently on the X handle of the ASI Alliance.
An additional turning point in the incorporation of AI and blockchain, the ASI Alliance’s formation signifies a development rapidly gaining traction among digital asset projects.
AI tokens, the outcome of the AI-blockchain combination, are now performing well in the cryptocurrency market.
In February, Sam Altman’s Worldcoin (WLD) encountered a price increase of up to 200%.
Furthermore, the favourable momentum may have influenced the choice of SingularityNET voters to support the merger.
