- In a recent publication, SingularityNET formally revealed the schedule for the combination of its native AGIX token and the Artificial Superintelligence Alliance (ASI) token.
- In terms of bringing the fetch.ai (FET), AGIX, and Ocean Protocol (OCEAN) groups together, this is a major step forward.
The FET token will be renamed to ASI on June 11th, and the process of merging these tokens into a single decentralized artificial intelligence (AI) network is expected to be finished by June 13th.
The ASI Merger: How Will It Operate?
Token holders shall change their FET, AGIX, and OCEAN tokens into ASI tokens at specified conversion rates in order to participate in the merger.
ERC20 tokens for swapping FET to ASI start on June 11th, with AGIX and OCEAN following on June 13th. FET tokens will convert to ASI at a 1:1 ratio, AGIX at 1:0.433350, and OCEAN at 1:0.433226.
Users can safely exchange their tokens using an audited token migration contract that SingularityNET provides during the migration process, which will take place on the decentralized AI platform of SingularityNET.
With more than 200,000 tokenholders, the ASI merger seeks to establish the biggest open-sourced decentralized network in the AI sector.
SingularityNET also stated that in the upcoming days, they will make comprehensive instructions available for migrating ERC-20 tokens. They will also provide further details on how to migrate AGIX tokens on the Cardano blockchain, especially for token holders.
SingularityNET’s Perspective
The three businesses’ goal in merging is to create a decentralized AI platform that will encourage cooperation. According to the research, this action constitutes the largest decentralized, open-sourced network aimed at the AI sector.
As per the agreement, Ocean Protocol, Fetch.ai, and SingularityNET would continue to run independently. However, they will collaborate under the direction of the Superintelligence Collective, a recently established organization.
The collective will be led by SingularityNET’s founder and CEO, Ben Goertzel. But the chairman will be Humayun Sheikh, the CEO of Fetch.ai and a pioneering DeepMind investor.
These talks take place at a time when big tech companies, such as Microsoft and Alphabet, are investing heavily in artificial intelligence (AI) due to their recognition of the technology’s potential to completely transform how people interact with it.
As a result, startups focused on artificial intelligence (AI) including SingularityNET, Fetch.ai, and Ocean Protocol are rushing to create blockchain-based decentralized AI technologies.
This collaborative endeavor seeks to establish an environment that is entirely answerable to shareholders rather than big businesses.
This has led to the emergence of other intriguing AI-based cryptocurrencies, which, according to CoinMarketCap data, have a market worth of over $38.7 billion. This presents a huge possibility for SingularityNet’s ASI token.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
