Three major players in the field of artificial intelligence research and development, Fetch.ai (FET), Singularitynet (AGIX), and Ocean Protocol (OCEAN), have announced a merger that will result in the formation of the most prominent independent entity in the AI industry.
The merger was revealed through two images, one of which showed the logos of the three companies, while the other displayed a statement confirming the collaboration. According to a statement, Fetch.ai is joining forces with two other blockchain-based artificial intelligence (AI) platforms to create The Superintelligence Alliance.
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The Superintelligence Alliance is a collaborative effort to combat the dominance of big tech in the realm of technology. Our goal is to revolutionize the way AI is developed, distributed, and utilized by embracing the principles of decentralization, ultimately leading to a fair and transparent form of AI for all.
The aim is to empower the recently established coalition to rival dominant centralized organizations.
The resources needed to win this competition are immense and the solution needs to be vertically integrated into the whole technology stack, including infrastructure like data management, AI Agents, and models and predictions. The Alliance brings together the skills and expertise of our respective companies in the pursuit of Superintelligence (ASI).
Fetch.AI
Our initial undertaking marks the beginning of our ambitious goal to develop decentralized Artificial General Intelligence (AGI) and ASI.
The progress will also involve the establishment of a fresh universal token named Artificial Intelligence (ASI).
The initial value of the Alliance upon signing is estimated to be $7.5 Billion, which would theoretically place it at the 20th spot on Coinmarketcap. This value is based on the possession of 2.631 Billion tokens and a starting price of $2.82, using FET as the reference currency.
The three projects’ individual tokens experienced significant increases in value after the announcement. Currently, OCEAN is being traded at $1.45, showing a 5.90% increase in the last 24 hours. FET is priced at $3.32, reflecting a 7.36% increase, while AGIX is being sold at $1.40, with a 6.82% increase.
About Fetch.ai
Fetch AI operates as an Ethereum-based token fueling the Fetch.ai platform, a decentralized hub for machine learning applications spanning asset trading, gig economy tasks, and energy grid enhancement.
The inaugural decentralized finance offering by Fetch.ai facilitates automated trading for Uniswap users, adhering to preset criteria. The FET Utility Token holds pivotal significance within the Fetch ecosystem, serving as the linchpin for discovering, developing, deploying, and educating autonomous economic agents.
Its indispensability extends to enabling smart contracts, oracles, and facilitating transactions crucial for realizing the envisioned digital economy landscape.
About Singularitynet
Dr. Ben Goertzel established SingularityNET with the aim of fostering a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence (AGI). This AGI is envisioned to operate independently of any central authority, providing accessibility to all individuals and free from the constraints imposed by singular corporate or national objectives.
The SingularityNET team comprises proficient engineers, scientists, researchers, entrepreneurs, and marketers. In addition to our central platform and AI teams, we have specialized teams dedicated to various application domains, including finance, robotics, biomedical AI, media, as well as arts and entertainment.
About Ocean Protocol
Ocean Protocol serves as a gateway for data services within the cryptocurrency sphere, unlocking the inherent value of data. Established in 2017, it leverages blockchain technology to facilitate connections between data providers and consumers.
Through the Ocean Market app, data owners can commercialize their data while safeguarding privacy and retaining control. This platform enables consumers to access private data previously inaccessible to them.
This platform is particularly advantageous for AI practitioners and data scientists, who gain access to a broader data pool, along with crypto-secured provenance and income opportunities. Compute-to-data functionality ensures that private data can be utilized in AI models and research endeavors without direct exposure.
Additionally, Ocean Protocol users have the opportunity to earn rewards by staking tokens to curate data.
Moreover, developers can capitalize on Ocean Libraries to construct and deploy their decentralized marketplaces, wallets, and other applications. At the heart of the protocol lies the OCEAN token, serving as the native utility token.
It acts as the primary medium of exchange within the Ocean Market and plays a pivotal role in governance and staking mechanisms.
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