Companies issuing three artificial intelligence (AI) network cryptocurrencies agreed to merge them into one. These are Fetch.ai (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN).
According to they communicated to the press, token The result arising from the merger will be called ASI, As a result of the merger, its diluted value will be approximately $7.6 billion (USD).
He said the move is aimed at promoting the development of decentralized artificial intelligence platforms. However, he clarified that the agreement depends on the approval of each community’s members.
Humayun Sheikh, Executive Director of Fetch.ai, commented, “We wanted to build one of the world’s first open and decentralized networks that truly makes AGI (Artificial General Intelligence) accessible to all stakeholders who interact with the network. Provide assistance for construction.”
According to the Fetch.ai manager, the merger is “an alternative to the large corporations that exist and control the AI sector.” It’s different, he explained, because it offers an open source, decentralized network with tools for building artificial intelligence applications.
The companies indicated, however, that they would continue to operate as separate entities. They will have a common governing council called artificial superintelligence alliance, The committee will be made up of both Ocean Protocol co-founders Sheikh and Bruce Pon and Trent McConaughey and SingularityNet founder Ben Goertzel.
Currently, FET, AGIX and OCEAN are ranked 45th, 74th and 134th respectively in the ranking of cryptocurrencies with the highest market capitalization. And when it comes to AI-related field, He is reputed to be one of the eight greatestAs seen below.
FET, AGIX and OCEAN prices react higher
Given the merger announcement, FET, AGIX and OCEAN prices gained momentum from the gains they were experiencing during the week. Although first Particularly poised to reach a new all-time high price As shown below, approximately USD 3.3.
Although FET later fell slightly to US$3, it is currently up 5% in 24 hours. Meanwhile, in the same period, AGIX and OCEAN have shown an increase of 6% to USD 1.2 and an increase of 10% to USD 1.3.
With this movement, AGIX is 13% away from reaching its all-time high price US$1.4 was achieved two weeks ago. Instead, OCEAN is trading 31% below its 2021 record high of $1.9 set three years ago.
As reported by CriptoNoticias, its recent rise has been fueled by growing interest in artificial intelligence as well as widespread demand which has led to a surge in Bitcoin (BTC). The latter, which is the digital currency with the largest capitalization, is approaching its price record registered two weeks ago.
