The world of decentralized artificial intelligence (AI) and blockchain technology has been abuzz with excitement as rumors circulate about a potential merger involving three prominent projects in the space. According to a report by Bloomberg, Fetch.ai, SingularityNET, and Ocean Protocol are in discussions to consolidate their crypto tokens into a single unified offering, aimed at fostering the development of a decentralized AI platform.
The news has sent shockwaves through the cryptocurrency market, with the tokens of the three projects experiencing significant price surges. Fetch.ai’s FET token surged by 15%, SingularityNET’s AGIX token saw a 12% increase, and Ocean Protocol’s OCEAN token skyrocketed by an impressive 34% at the time of reporting.
The proposed merger, as reported by Bloomberg’s anonymous sources, would involve combining the companies’ tokens into a single ASI token with a fully diluted value of approximately $7.5 billion. The deal, which could potentially be announced as early as Wednesday, would require approval from the respective communities of each project.
If the merger goes through, the three platforms would continue to operate as separate entities while collaborating under the guidance of a “Superintelligence Collective” led by SingularityNET founder and CEO Ben Goertzel. Additionally, Fetch.ai CEO Humayun Sheikh, an early investor in Google’s AI acquisition DeepMind, is reportedly lined up to serve as the chairman of the collective.
The rationale behind this potential consolidation lies in the race to develop decentralized AI technology on blockchain, with the aim of preventing the concentration of control in the hands of large, shareholder-driven corporations like Microsoft, Google, and Facebook. By joining forces, these projects hope to collectively accelerate the development of decentralized AI solutions on the blockchain.
While representatives from the three projects have declined to comment on the matter, according to Bloomberg, the decentralized AI crypto community eagerly awaits further details and official statements regarding the proposed ASI token and its implications for the future of decentralized AI development on blockchain.
As the world increasingly embraces the potential of AI and blockchain technologies, this rumored merger could potentially reshape the landscape of decentralized AI, fostering innovation and collaboration within the space.
