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AI-Crypto Companies in Talks to Merge Tokens, Form Decentralized AI Platform

Jonathan Wong

Jonathan Wong

21 March 2024

Three blockchain-based AI startups, SingularityNET, Fetch.ai, and Ocean Protocol, are reportedly in discussions to merge their cryptocurrency tokens with the aim of establishing a decentralized AI platform. The proposed merger would result in the creation of an ASI token, valued at approximately $7.5 billion when fully diluted, pending approval from each community's members. This move signifies a significant step towards creating a unified ecosystem for AI development and deployment, leveraging blockchain technology to foster collaboration and innovation.

The Superintelligence Collective, led by SingularityNET founder Ben Goertzel and Fetch.ai CEO Humayun Sheikh, would oversee collaboration among the platforms while maintaining their independence. This collective approach aims to harness the strengths of each platform, combining expertise and resources to advance the development of decentralized AI technology. If approved, the merger could redefine the landscape of AI research and application, offering a decentralized alternative to traditional centralized models.

The talks come amidst growing investments by major tech firms like Microsoft and Alphabet in artificial intelligence, reflecting the increasing importance of AI in shaping future technologies. In response, emerging AI-focused platforms like Ocean Protocol, Fetch.ai, and SingularityNET are vying to establish themselves as leaders in decentralized AI technology on the blockchain. By leveraging blockchain technology, these platforms aim to create AI ecosystems free from the influence of traditional big businesses accountable to investors, fostering greater transparency, inclusivity, and innovation.