The three firms will combine crypto tokens under FET from AI-focused Web3 platform Fetch.ai and will be renamed ASI. The technology world has focused on AI for the last year and a half, with concerns expressed that technology giants such as Microsoft, Alphabet and Meta will establish hegemony over the sector.

The three-way merger of AI-focused protocols Fetch.ai, SingularityNET, and Ocean Protocol will form the Artificial Superintelligence Alliance (ASI) on June 13. All three companies plan to combine their tokens under Fetch.ai's FET, starting June 11 users will be able to exchange FET for ASI.

This is one of the reasons why Web3 companies are trying to create a decentralized AI infrastructure where data is shared transparently and openly among contributors. Three separate tokens are up more than 2% in the last 24 hours, according to CoinMarketCap data.

Read more: The Future of AI is Decentralized. I'm waiting for your comments, what do you think? 😄🚀🌐🤖📈#DeFi#Web3