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How will the ASI token merger influence the AI and crypto markets, and what can investors anticipate from this alliance? At the end of March, three prominent names in the AI and crypto industries — Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) — made a huge announcement: they are merging their tokens to create a new, super-powerful AI token called Artificial Superintelligence (ASI). However, this isn’t just a straightforward swap. Each token holds a different value, so they will convert at varying rates. According to the announcement, 1 FET will be exchanged for 1 ASI, while 1 AGIX will convert to 0.433350 ASI and 1 OCEAN to 0.433226 ASI. After the merger, there will be a total of 2.63055 billion ASI tokens. This merger will occur in two phases. Phase 1 began on July 1, focusing on consolidating SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET tokens. Phase 2, starting in mid-July, will engage the community and introduce the new ASI tokens. Meanwhile, FET trading remains active as rebranding takes place across various platforms. Now, let’s explore what this merger signifies for the crypto market and what we might anticipate in the future. What is the merger about? First, let’s understand the key players in this merger.  SingularityNET is the world’s first decentralized Artificial Intelligence (AI) network, which allows anyone to create, share, and monetize AI technologies at scale.  Fetch.ai is a web3 platform that uses AI to build a new economy by enabling autonomous agents to perform useful economic work.  Lastly, Ocean Protocol is a decentralized data exchange platform designed to safeguard data privacy and security.  Together, these companies envision creating a robust platform that harnesses their individual strengths to foster a decentralized AI future. The goal of this merger is to advance toward Artificial General…

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Filed under: News - @ July 9, 2024 9:22 am