Fusion for the future 🤖
From three prominent AI projects into one.
Just yesterday, Fetch.ai, SingularityNET, and Ocean Protocol announced their plans to create an alliance for decentralized artificial intelligence, dubbed as the Artificial Superintelligence Alliance.
The idea behind the proposed alliance is to form the biggest open-sourced and independent player in decentralized AI as a means of capitalizing on the recent AI wave.
While each project and respective foundation will still operate independently, their roadmaps will be aligned in order to fully leverage each others' strengths.
For token holders, do note that the native tokens of the participating projects would be merged into the alliance's ASI token.
Upon the news, OCEAN surged by 33.3% from $1.23 to $1.64, while FET and AGIX rose by 3.8% and 13.2% respectively.
However, there's still a long way to go, as the three projects will submit integration proposals through their respective governance channels for a 2-week discussion period before any sort of voting takes place.
Should all three communities accept the proposals, FET will be fully converted at a 1:1 ratio into ASI, while AGIX and OCEAN will migrate to ASI at a rate of approximately 0.433 to 1 ASI token.
Editor's Take:
We've seen mergers before, such as the one between Rari Capital and Fei Protocol. However, that union did not end very well, which ended with the dissolution of the protocol's DAO governance. Nonetheless, it will be interesting to see if this is the beginning of a greater plan to unify the decentralized AI space or be the catalyst for other projects to seek out their own alliances.
