The Artificial Superintelligence Alliance’s new ASI token will begin trading next month and will be valued at $7.5 billion at launch.
Tokenholders of SingularityNet, Fetch.ai and Ocean protocols have approved a $7.5 billion merger that would create a combined Artificial Superintelligence Alliance (ASI) project.
According to the April 16 announcement, the Fetch.AI (FET) token will become the ASI token with a total supply of 2.6 billion. Meanwhile SingularityNet (AGIX) and Ocean (OCEAN) tokens will be converted into ASI at approximate ratios of 0.43:1, with ASI tokens having a combined value of $7.5 billion post-merger. The ASI is scheduled for launch on May 24.
“Our mission is to create a decentralized AI infrastructure at scale, ensuring ethical and trustworthy practices,” said Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai. “By combining our platforms, we empower developers and users alike, fostering a more democratic and transparent AI ecosystem.”