The Formation of the Artificial Superintelligence Alliance:
The three decentralized platforms Fetch.ai, SingularityNET, and Ocean Protocol are joining forces to form a new entity in the field of artificial intelligence, known as the Artificial Superintelligence Alliance ($ASI). This collaboration will result in the creation of a unified token, $ASI, marking a significant strategic and operational shift for all entities involved.
What is the $ASI Token?
The $ASI token is a merger of the $FET, $OCEAN, and $AGIX tokens. This new token symbolizes a strategic shift towards a unified currency within the Superintelligence Alliance, aiming to facilitate operations and leverage the collective potential of AI technologies in development and research.
Token Merger Procedure
The $FET, $OCEAN, and $AGIX tokens will be converted to $ASI through a meticulously planned exchange process to ensure fairness among all token holders. The conversion will occur through governance proposals, which will be voted on by the respective communities. $FET holders will be able to exchange their tokens at a 1:1 ratio for $ASI, while $OCEAN and $AGIX holders will have pre-defined fixed conversion rates.
Governance and Structure of the Alliance
After the merger, the Alliance will maintain the autonomy of its original members but will operate under a new structure governed by a council. This council will include leaders from the three founding entities: Humayun Sheikh from Fetch.ai as the president, Dr. Ben Goertzel from SingularityNET as the CEO, and Trent McConaghy and Bruce Pon from Ocean Protocol as board members.
Market Impact and Governance Restructuring
The new market capitalization of the $ASI token is estimated at approximately $7.5 billion, with a total supply of 2.63 billion tokens. This valuation reflects the combined potential of the three entities and positions the Alliance as a significant player in the decentralized AI sector.
Comparison with Corporate Joint Ventures
When evaluating the Alliance in light of conventional corporate joint ventures, it is noted that while traditional JVs are designed to distribute risks and resources among established business entities, the Alliance offers a comparable yet distinct model based on blockchain technology, focusing on token management and decentralized procedures.
Token Exchange Mechanism
The token exchange mechanism will facilitate the transition to $ASI, allowing $FET, $OCEAN, and $AGIX holders to transform their tokens into $ASI. This system will be accessible indefinitely, ensuring that all token holders have the opportunity to participate in the merger, regardless of its timing.
This initiative not only simplifies the operational structure of the involved platforms but also promotes deeper and more synergistic integration between AI technologies and communities, redefining the landscape of decentralized artificial intelligence innovation.
