News - $7.6 billion: Top AI coins form alliance

By Luc Vesters

$7.6 billion: Top AI coins form alliance

Three AI coins, one alliance: Fetch.AI, Singularity.NET and Ocean Protocol merge. This was announced in a joint press release. The projects' tokens will be merged, resulting in a combined market capitalization of nearly US$8 billion. The new token will be called ASI, short for Artificial Super Intelligence.

The goal is to accelerate the "largest, open, decentralized network" in the "race for Artificial General Intelligence." The Fetch.AI token will convert to ASI at a price of USD 2.82 and a total market capitalization of USD 7.6 billion. Singularity.NET (AGIX) and Ocean Protocoll (OCEAN) tokens can be converted at a price of 0.43.

  • Fetch.AI was founded in 2017 by one of the founders of Google's Deep Mind, Humayun Sheikh. It is a decentralized platform for AIs.

  • Singularity.NET was founded in 2017 by a pioneer in AI research, Ben Goertzel. It is a decentralized marketplace for AIs.

  • Ocean Protocol is a platform for the exchange of data and tokenized assets. It was founded in 2017 by Trent McConaghy.

Artificial General Intelligence represents the next wave of AIs. Smarter than humans, independent in their development - a new stage in evolution. According to some researchers and experts, it is only a few years away. A highlight of this development is that OpenAI discovered a breakthrough in AGI research a few months ago. Resulting in a huge media scandal. The merger is intended to make the three platforms competitive with BigTech, according to the press release.

AI coins are currently experiencing tremendous hype. Many have risen by hundreds of percent in recent months, driven by developments around OpenAI and Nvidia. The prices of the respective tokens are rising after the news was announced. Ocean Protocol by 20 percent, Singularity.NET by 10 percent and Fetch.AI by 7 percent.

Is it all hype or does the industry really have substance?

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