📰 Table Of Contents
Decentralized AI Platform Merger Talks
SingularityNET, Fetch.ai, and Ocean Protocol are reportedly in discussions to merge their crypto tokens to establish a decentralized AI platform and enhance collaboration among the companies.
Creation of ASI Token
The companies are considering the creation of an ASI token with an estimated fully diluted value of around $7.5 billion, as per reports from Bloomberg.
Formation of Superintelligence Collective
Under the proposed merger, the companies would maintain separate operations while collaborating under a new entity named the Superintelligence Collective. This collective would be overseen by Ben Goertzel and Humayun Sheikh.
Industry Response and Potential Impact
These discussions coincide with significant investments in AI by tech giants like Alphabet and Microsoft, highlighting the transformative potential of AI in technology interactions.
Competing Against Tech Giants
The merger could strengthen the position of SingularityNET, Fetch.ai, and Ocean Protocol in competing against major tech companies by leveraging their combined strengths and expertise.
Token Performance Post-Merger News
Following the merger news, the native tokens of SingularityNET, Fetch.ai, and Ocean Protocol have experienced notable surges in value.
Token Performance Data
- SingularityNET’s AGIX token has increased by over 12% in the last 24 hours.
- Fetch.ai’s FET token has surged by almost 16%.
- Ocean Protocol’s OCEAN token has seen a significant rise of more than 37%.
Market Analysis and Future Outlook
While AI-related tokens have shown mixed performance, a report from Coinbase suggests that the recent surge may be driven by hype rather than practical utility.
The report questions the sustainability of demand-side drivers for AI tokens in the short to medium term and challenges the disruptive claims made by crypto platforms in the AI industry.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
