Three blockchain-based artificial intelligence (AI) firms—Fetch.ai, Ocean Protocol, and SingularityNET—are reportedly on the brink of merging their tokens into a single ASI token, aiming for a valuation of $7.5 billion.
This deal has not yet been officially announced, as Bloomberg reported that it is pending approval from members of each community.
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These firms share the aim of advancing AI protocols built on blockchain, designed to operate independently of central authorities or major investors' control.
Although the trio will continue working independently, they plan to collaborate by creating the Artificial Superintelligence Alliance. This group will be led by Ben Goertzel, CEO of SingularityNET, with Humayun Sheikh, CEO of Fetch.ai, as the chairman.
According to BitDegree data, Fetch.ai leads the three with a market capitalization of $2.6 billion, followed by SingularityNet at $1.7 billion and Ocean Protocol at $847 million at the time of writing.
This potential merger arrives amidst a wave of surging interest in AI technologies, notably following 0G Labs garnering $35 million in funding for a blockchain AI project, promising faster and more cost-effective solutions than existing technologies.
By banding together, Fetch.ai, Ocean Protocol, and SingularityNET aim to accelerate the development of decentralized AI solutions, challenging the status quo of centralized tech giants. As the community awaits the final verdict, the anticipation underscores the industry's readiness for a new era of innovation.
