In a move that feels lifted from the future, OCEAN Protocol, Fetch.AI & SingularityNet’s $AGIX are merging to form – the ASI Token. With a fully diluted valuation of $7.5 Bn, it ranks among the top 20 coins by market cap. But, it has a huge upside potential majorly because of the ongoing AI trend and if you ask the experts, only these 3 are actually “working” on AI.
The ASI token & its utility is something that needs to be looked more into according to the sources. As these giants join forces, we stand on the cusp of a breakthrough in the digital arena.
A Unified Push in AI Innovation
SingularityNet, Fetch.AI, and Ocean Protocol are reportedly contemplating a merger of their tokens, potentially giving rise to the AltSignals (ASI) token. This powerhouse union could wield a colossal fully diluted valuation of $7.5 billion, pending community approval.
Termed the “Artificial Superintelligence Alliance,” this proposed amalgamation aims to carve out a dominant presence in AI research and development. Led by luminaries like Ben Goertzel of SingularityNet and Fetch.AI’s CEO Humayun Sheikh, the goal is to tap into the decentralized potential of AI protocols, injecting fresh momentum into AI innovation while retaining each platform’s autonomy.
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Market Reflections
From a market perspective, the potential merger reflects the growing interest and future investments in AI protocols. With Fetch.ai currently leading the pack with a market capitalization of $2.72 billion, followed closely by SingularityNet at $1.7 billion and Ocean Protocol at $927 million, it’s clear that investors see 100X potential in these projects.
Bruce Pon, Ocean Protocol’s CEO, highlights that the unified ASI token will coordinate all stakeholders with shared incentives, securing the network and enabling data access and computing without traditional banking channels.
Challenges & Possible Loopholes
However, challenges loom on the horizon, particularly regulatory scrutiny in Europe. Google’s recent tussle with EU copyright laws serves as a stark reminder of the legal labyrinth awaiting AI developers. Nonetheless, the promise of potential benefits far outweighs the risks, with governments and corporations pouring billions into AI R&D.
Also Read: Top AI-Based Altcoins Primed for Explosive Growth in the Coming Weeks
The ASI merger proposal timeline is as follows: Today, the three projects are set to submit integration proposals to their respective governance communities, initiating a 14-day consultation period. Subsequently, voting on the proposal is expected to occur between April 2 and April 16.