AGIX, FET, OCEAN Merge in $7.5 Billion ASI Alliance

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Holders of the smart contract tokens for SingularityNet (AGIX), Fetch.ai (FET), and Ocean (OCEAN) have approved a merger worth approximately $7.5 billion. This union, named Artificial Superintelligence Alliance (ASI), was signed off by token holders. A new ASI token will be issued with a total supply of 2.6 billion tokens to replace FET. The AGIX and OCEAN tokens will be converted into ASI at ratios of 0.43:1 respectively. The launch of this decentralized AI infrastructure, designed for handling large data sets, is planned for May 24th.

A significant number of AGIX token owners have given their approval for the ASI Alliance proposal in an exciting turn of events. This landmark choice signifies the birth of the biggest open-source and decentralized community aimed at boosting the progress of Artificial Superintelligence technology.— SingularityNET (@SingularityNET) April 16, 2024

The Industrial Application of Artificial Intelligence by ASI is primarily found in industries, where AI agents function in business settings, language learning models are employed, and AI data is exchanged. We aim to introduce this product for commercial use, while also enhancing our GPU technology to foster AI advancements.

In simple terms, the demand for Fetch’s computing services, particularly in the field of AI and LLMs (Large Language Models), is met by SingularityNET, which focuses on AI applications. Oceans serve as a marketplace for data assets tokenized as digital goods. Users can trade or sell these assets using popular cryptocurrency standards. This merger is a natural progression in tech, aligning with trends such as self-publishing platforms that leverage AI and blockchain technology.

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2024-04-17 01:40