Victor Oluoma 
SingularityNET, along with Ocean Protocol and Fetch.ai, are merging to establish the Artificial Superintelligence Alliance.
To create “the largest open-sourced independent player in AI research and development,” Fetch.ai, Ocean Protocol, and SingularityNET will combine their tokens, according to an announcement.
As of Monday, the aggregate fully diluted market capitalization of the three blockchain businesses’ tokens was around $7.5 billion, thanks to their merger into what they’re calling the Artificial Superintelligence Alliance. The three tokens’ aggregate valuation surpassed $8.6 billion as of this writing.
The businesses stated on Wednesday that they are seeking to create a decentralized alternative to current AI projects controlled by “BigTech” through the merger.
Press materials obtained by the media indicate that on March 27, 2024, Fetch.ai, Ocean Protocol, and SingularityNET would present their merger proposal to the members of their separate boards of directors.
When it comes to artificial intelligence and blockchain, all three of these businesses have been major players. Take, for example, Fetch. The German engineering and tech behemoth Bosch is one of Ai’s partners in its mission to create a decentralized multi-agent platform for the deployment of AI applications. The creation of a platform to facilitate the creation and commercialization of artificial intelligence applications has been its primary objective.
Meanwhile, SingularityNET aims to build a decentralized and inclusive AI through its blockchain-based marketplace and AI service framework, and the Ocean Protocol provides a safe, privacy-preserving platform for data exchange, letting people and companies easily trade tokenized data assets.
“In a world of exploding AI innovation, the giants of Big Tech dominate the headlines and conversations,” commented Humayun Sheikh, CEO and founder of Fetch.ai and an early investor in DeepMind, in a statement regarding the development. We’re leading the way in a new direction.
Sheikh claims that the three businesses have set out to decentralize AI by building a platform that guarantees AI is ethical and transparent.
As the AI revolution gathers steam, Dr. Ben Goertzel of SingularityNET emphasized the need to prevent any one group with skewed interests from owning and controlling the development of artificial general intelligence (AI) and artificial self-intelligence (ASI). A transparent, democratic, and decentralized rollout is required.
With the combined tokenomic networks, the three businesses are better able “to take on Big Tech and shift the center of gravity of the AI world into the decentralized ecosystem,” as Goertzel of SingularityNET put it. The companies’ goals are also in sync.
Goertzel claims that a decentralized neural-symbolic AGI system with world-class abilities in creative thinking, scientific reasoning, and other critical domains is one of the network’s primary objectives.
Ocean Protocol’s CEO and co-founder, Bruce Pon, thinks the merger will make them “a leader in R&D, applications and commercialization of AGI” and provide “a vertically integrated stack of decentralized technologies” so they can compete on a global scale.
The companies will launch a unified token, $ASI. It will serve several purposes, including data access tokens, safeguarding the public network, and unleashing computation without the need for existing banking and payment rails, according to Pon.
Ben Goertzel will head the Artificial Superintelligence Alliance as CEO, with Humayun Sheikh as Chairman. Conversely, Ocean Protocol delegates Bruce Pon and Trent McConaghy will be joining the leadership governance.