'SingularityNet' in discussions with 'Fetch.AI' and 'Ocean Protocol' to merge its crypto tokensNews

Three prominent artificial intelligence (AI) protocols, SingularityNet, Fetch.ai, and Ocean Protocol, are in discussions to merge their crypto tokens into a single token, AltSignals (ASI), which would have a total diluted value of about $7.5 billion.

The deal could be announced on Wednesday, depending on community approval, according to people familiar with the matter, as reported by Bloomberg M&A.

Although the three platforms will continue to operate as separate entities, the new deal will consolidate their collaboration under a new entity known as the Super Intelligence Cluster, which will be led by Ben Goertzel, founder and CEO of SingularityNet. Humayun Sheikh, CEO of Fetch.ai, will be the head of the new entity, according to sources.

The three protocols are united by the common goal of developing autonomous, blockchain-based artificial intelligence protocols that cannot be controlled by central parties or large shareholders.

Currently, the market cap of the Fetch.ai token (FET) is around $2.72 billion, which is the largest of the three tokens. As for SingularityNet’s token (AGIX), its market value is $1.7 billion, and the market value of Ocean Protocol’s token (OCEAN) is about $927 million, according to “coin market cap” data.

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