Fetch.ai, SingularityNET, and Ocean Protocol will merge to form the Superintelligence Alliance, introducing the ASI token to decentralize AI and replace their respective native tokens. The merger will challenge centralized entities like OpenAI and Google.
Written by: Anatol Antonovici | Updated April 9th, 2024
Reviewed by: Mike Martin
Fact checked by: Ryan Grace
In this article, we teach you everything we know about the Superintelligence Alliance. Let’s go!
Table of Contents
🍒 tasty takeaways
Superintelligence Alliance is a merger of Fetch.ai, SingularityNET, and Ocean Protocol, although the members will continue to operate as independent legal entities.
ASI will automatically replace FET based on a 1:1 ratio, while AGIX and OCEAN will migrate to ASI at a conversion rate of about 0.433:1.
ASI is expected to have a valuation of $7.5 billion and rank 20th on CoinMarketCap.
On March 27, three AI crypto projects surprised the blockchain industry by announcing a merger. Their native tokens will be converted to a new token and shared economy—a rare occurrence in crypto.
Fetch.ai, SingularityNET, and Ocean Protocol are blockchain-based artificial intelligence (AI) projects that are making a big splash by joining their efforts to build a decentralized AI infrastructure capable of competing with OpenAI and Google.
The new AI crypto entity will be known as the Superintelligence Alliance. The proprietary token will fall under the cryptocurrency ticker ASI.
Source: Twitter – Fetch
What Is The Superintelligence Alliance?
The Superintelligence Alliance is a decentralized AI ecosystem that will combine the infrastructure and experience of three leading AI crypto projects: Fetch.ai, SingularityNET, and Ocean Protocol. It is expected to become the largest decentralized AI platform, and its goal is to break the monopoly of centralized companies.
Ocean Protocol revealed in a statement:
“We joked internally that we are the “Rebel Alliance” against the large platforms — but it’s actually no joke.”
Why Merge Instead of Collaborating?
The three AI projects recognized that AI technology is evolving rapidly, and decentralization is crucial to ensuring that AI serves the needs of the people.
SingularityNET founder Ben Goertzel said that Artificial General Superintelligence (AGI), where an AI can perform at a human level of competence, could emerge as early as 2027. Following this milestone, AI development is expected to further accelerate towards achieving Artificial Superintelligence (ASI), wherein AI surpasses human intelligence levels in terms of competence.
Fetch, SingularityNET, and Ocean Protocol believe that it is crucial for humanity that ASI is fundamentally decentralized across the whole technology stack, from the network infrastructure to AI software and AI models.
The Three Entities Will Continue to Exist
While the Superintelligence Alliance will have a shared economy and a common website, each Foundation – Fetch, SingularityNET, and Ocean Protocol – will continue to operate as independent legal entities with their existing teams and communities.
The new entity will have a Governing Council, with Fetch CEO Humayun Sheikh as Chairman, SingularityNET’s Ben Goertzel as CEO, and Trent and Bruce of Ocean Protocol contributing to Superintelligence Alliance’s vision.
Each Foundation will be free to implement the values and adoption of decentralized AI as it sees fit.
Source: Ocean Protocol
3 Pillars of Focus
The new entity will have three pillars of focus:
- Build decentralized Artificial Superintelligence (ASI) — it will build ASI for humanity and the future.
- Build apps, unify stack—the three entities will build and deploy AI decentralized applications that can impact business and retail use cases today. The Foundations will use the apps to develop a unified AI stack.
- Scale decentralized compute – AI, AGI and ASI need compute. The three teams intend to use the scale of $ASI to secure computing power for AI in a decentralized manner.
Source: Superintelligence.io
What Is the ASI Token?
ASI will replace the native tokens of the three participating projects: Fetch.ai’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN.
FET has the leading role and will be replaced with ASI based on a 1:1 ratio. AGIX and OCEAN will migrate to ASI at a conversion rate of about 0.433:1.
The ASI token is expected to have a market capitalization of about $7.5 billion, making it the 20th largest crypto coin if it were to launch today (CoinMarketCap). This will expose the Alliance to a broader audience and make ASI a strong candidate for any index-based AI or crypto exchange-traded fund (ETF).
The total supply of ASI will be 2.63 billion tokens, with FET accounting for 43%. Here is the calculation basis for ASI minting:
Source: Fetch.AI
The ASI token will have a multi-chain infrastructure and be hosted on Cosmos-based FetchChain, Ethereum, Cardano, BNB Chain, and Polygon.
Decentralized AI Synergy
The upcoming Alliance will bring together the skills and strengths of three leading AI players, including:
- Fetch.ai’s autonomous AI agents and blockchain infrastructure.
- SingularityNET’s rich research and development heritage in AI development.
- Ocean Protocol’s data sharing and monetization.
Let’s briefly review each network:
Fetch.ai
- Token: FET
- Category: Autonomous Agents and DeFi
Fetch.ai is a blockchain-based AI platform that revolves around AI agents. These represent autonomous programs that can analyze, make decisions, and perform tasks without human intervention.
The AI agents are registered on Fetch.ai’s blockchain network, which uses Cosmos SDK. They can be used for various use cases, including decentralized finance (DeFi), Web3, Internet of Things (IoT), energy management, supply chains, and other business and individual tasks.
Fetch.AI’s AI Engine connects users with AI agents based on text inputs.
SingularityNET
- Token: AGIX
- Category: AI Services Marketplace
SingularityNET is a decentralized AI marketplace that enables users to create, share, and monetize AI apps. The platform’s goal is to develop AGI and create human-level intelligence.
In addition, SingularityNET operates a diverse ecosystem of AI players, acting as an incubator by providing funding, guidance, and expertise to its ventures.
Source: Singularitynet.io
Interestingly, the popular Sophia robot was created by SingularityNET team members as part of another firm.
Ocean Protocol
- Token: OCEAN
- Category: Data Exchange and Monetization
Ocean Protocol is an Ethereum-based open-source platform that enables businesses and exchanges to share and monetize data and data-driven services. The protocol’s mission is to contribute to a more efficient AI ecosystem.
Ocean participants can sell their data sets on a decentralized platform as fungible or non-fungible tokens (NFTs), while users can access datasets at a fair price.
Artificial Coin Comparison
FET, AGIX, and OCEAN Performance
All three tokens have surged since the end of 2023, performing better than Bitcoin. However, FET is the biggest winner, gaining over 1,100%.
Source: TradingView
Based on this solid performance, the new ASI token is expected to become a big player in the crypto space.
FAQs
What is the Superintelligence Alliance?
Superintelligence Alliance is an upcoming decentralized AI ecosystem resulting from the merger of Fetch.ai, SingularityNET, and Ocean Protocol – three leading AI crypto projects. It aims to build the largest decentralized AI platform to compete with centralized entities like OpenAI and Google.
What is the ASI token?
The ASI token is the new proprietary cryptocurrency of the Superintelligence Alliance, replacing Fetch.ai’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN. The new token is designed to serve as the economic foundation of the Alliance’s decentralized AI infrastructure.
What experience do the three members bring?
Fetch.ai brings expertise in autonomous AI agents and blockchain infrastructure; SingularityNET offers a rich background in AI R&D; Ocean Protocol contributes its experience in data sharing and monetization.
When will the Superintelligence Alliance go live?
The merger will occur after the community’s majority approval. All three projects will initiate separate governance proposals, with voting scheduled from April 2 to April 16.
🍒 tasty reads
The Core Blockchain and DeFi Ecosystem: What You Need to Know
7 Best DePIN Crypto Projects
What Is Symbiotic and How Does It Work in 2024?
Ethereum vs Ethereum ETFs – 5 Major Differences
Anatol Antonovici
6+ years of experience writing for crypto brands and blockchain firms, including Coindesk, Cointelegraph, Bitcoinist, CryptoPotato, Algorand, and OTCTrade.com