SingularityNET has released its Artificial Superintelligence Vision Paper, introducing the Superintelligence Alliance and the ASI token. The alliance merges three AI tokens—AGIX, FET, and OCEAN—belonging to SingularityNET, Fetch.ai, and Ocean Protocol, respectively, into the unified ASI token. [Take a look at the Fetch.ai webpage on the Superintelligence Alliance] This consolidation aims to navigate the growing competition between decentralized and centralized systems, empowering decentralized AI research and development (R&D) to counter the vulnerabilities of centralized systems. With a total estimated supply of 2,630,547,141 tokens, the alliance aims to demonstrate the real-world applications of decentralized AI and pursue the development of Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI). Each member of the alliance brings unique capabilities: Fetch.ai offers a mature framework for commercial solutions, SingularityNET focuses on AGI and ASI development through decentralized technology stacks, and Ocean Protocol provides a decentralized networkNetwork The set of computers connected to each other, called nodes, on which the blockchain of a specific cryptocurrency is based. for secure and ethical data management. The alliance focuses on building decentralized ASI, securing decentralized computing, and showcasing decentralized AI applications. SingularityNET has initiated a voting process for the merger, with ASI poised to revolutionize the AI and decentralization landscape by fostering innovation and creating a new paradigm independent of centralized solutions. Despite individual token values experiencing a decline post-merger announcement, the ASI token promises to offer users new opportunities and benefits in the decentralized AI space. (Source: CryptoNewsZ)
Here’s a breakdown of the key points:
- Merger for Decentralized AI: These three blockchain projects are merging their native tokens (FET, AGIX, OCEAN) to create a unified token for a decentralized artificial intelligence (AI) ecosystem.
- Alternative to Big Tech AI: The aim is to provide a decentralized alternative to existing AI projects controlled by large technology companies. This focus on decentralization resonates with the core principles of Web3.
- New Token: ASI: The merged token will be called ASI (Artificial Superintelligence). It will have a total supply of around 2.63 billion tokens.
- Conversion Rates: The native tokens of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) will be converted into ASI at a conversion rate of approximately 0.433 to 1 ASI.
- Market Capitalization: The combined market capitalization of the merged entity is estimated to be around $7.5 billion.
- Open Decentralized AI Infrastructure: The new alliance aims to create an open and transparent AI infrastructure, in contrast to potentially opaque systems controlled by large tech firms.
The launch price of ASI will likely match the price of FET at the time of the token swapSwap The conversion of tokens into other tokens on a decentralized exchange..