The day before yesterday, three companies that have been developing the AI ​​sector for many years, Fetch.ai, SingularityNET and Ocean Protocol, announced that they will create a decentralized artificial intelligence alliance and merge their tokens $FET, $AGIX and $OCEAN into $ASI.

Prior to this, as three AI projects that have been listed on the Binance trading platform, $FET, $AGIX, and $OCEAN have been important targets for market investment in the AI ​​sector. Affected by this news, SingularityNET (AGIX) rose by 12.56% in the short term. Fetch.ai (FET) has a 24-hour increase of 14.7%; Ocean Protocol (OCEAN) has a maximum short-term increase of 35%.

There may be room for arbitrage in token conversion

For such "Big News", the first and most important thing the community is concerned about is how to convert the original tokens held by investors?

According to reports, Fetch.ai’s token $FET will be converted to $ASI at a ratio of 1:1, and SingularityNET’s $AGIX and Ocean Protocol’s $OCEAN will be converted to $ASI at a ratio of approximately 1:0.433.

$FET, as the base token of the alliance, will be directly renamed to $ASI, and an additional 1.48 billion tokens will be minted, of which $867 million ASI will be allocated to $AGIX holders and $611 million ASI will be allocated to $OCEAN token holders Those who have. The total supply of $ASI tokens will be 2.63 billion tokens, and based on today’s price estimates on March 26, $ASI’s total FDV will be $7.6 billion.

Since the exchange ratio remains unchanged, there will be a price difference in the final converted $ASI based on the different prices of the three tokens. As a result, the community took note of the arbitrage potential here. Multiply the $FET price by 0.433 and $AGIX and $OCEAN are a buy if the price is below the resulting number and a sell if above.

Currently, three projects are cooperating with centralized trading platforms, and users holding these three tokens on centralized trading platforms do not need to perform any operations.

What are the expectations after the merger?

The merger of the three projects will create a team called Superintelligence Collective, with SingularityNET founder Ben Goertzel as CEO. Fetch.ai, Ocean Protocol Foundation and SingularityNET Foundation will continue to operate as independent entities but will work closely together in the operations of the shared ASI token ecosystem and the Superintelligence Collective.

In the merger announcement issued by the three teams, not much was introduced about the new businesses that will be launched after the merger. According to Ben Goertzel on his social platform, after the merger, the future work direction will focus on AGI and ASI, which is why the merged token is named ASI.

At the time of writing, Fetch.AI has a market cap of $3.246 billion, ranking third in the AI ​​sector behind Render Networ ($RNDR) and Bittensor ($TAO). SingularityNET has a market capitalization of $1.628 billion and Ocean Protocol has a market capitalization of $804 million. If the merger is successful, ASI's market value will exceed US$7 billion in the future, making it one of the top 25 projects in the encryption field and the AI ​​sector project with the highest market value.

Prior to this, Fetch.ai already had relatively mature experience in AI agents. On February 20, Deutsche Telekom announced a partnership with the Fetch.ai Foundation and became Fetch.ai's first corporate ally. At the same time, Deutsche Telekom's subsidiary MMS will also serve as a Fetch.ai validator. Fetch also announced the launch of a $100 million infrastructure investment project "Fetch Compute" earlier this month, which will deploy Nvidia H200, H100 and A100 GPUs to create a platform for developers and users to leverage computing power.

Ocean Protocol has built many module services in decentralized data sharing, access control and payment. According to reports, its Predictoor product has sold more than $800 million in six months since its launch.

SingularityNET was the one that explored the most AGI direction among the three projects before the merger. Its AGI team and partners TrueAGI and the OpenCog community have been focusing on developing the AGI framework OpenCog Hyperon since 2020. SingularityNET will also launch decentralized artificial intelligence this year The platform aims to create a basic environment suitable for running AGI systems.

It is worth mentioning that this is not the first time that powerful projects have merged in the crypto field. During the 2020 DeFi Summer, Yearn.finance founder Andre Cronje (AC) launched a series of acquisitions and mergers, but in the end his DeFi empire Didn't come true.

As one of the important sectors of market attention in the encryption field in 2024, many new projects have emerged on the AI ​​track recently. Three powerful projects that have been deeply involved in the Web3xAI field for a long time have chosen to merge and move towards the narrative of "decentralized AGI". What story will develop based on the market capitalization of 7 billion remains to be seen by time.

Disclaimer: Contains third-party content and is not financial advice.​


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