TL; DR
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Fetch.AI (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN) are merging into a single digital asset called ‘Artificial Superintelligence Alliance’ (ASI) – which could be a smart move.
Full story
In April, community members from three different AI-focused crypto projects – Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) – voted to merge them into a single digital asset titled ‘Artificial Superintelligence Alliance’. (ASI).
The merger, which was supposed to take place on June 13, has now been postponed to July 15.
Even though it’s scheduled a little later than expected, it will still be here before we know it.
Why is this merger actually taking place?
Simply put, the big benefit of combining the three tokens into one is that it creates a more streamlined governance process for all three projects – which in theory will help accelerate innovation and progress for everyone.
The three projects will continue to work on their own initiatives, but when disputes or decisions need to be made, only those who deployed ASI can vote.
(Kind of like if you had one board of directors for three separate companies; but in this case the ‘directors’ are ASI token stakers).
Additionally, it sounds like it will bring each project closer together, potentially allowing each other to share innovative technologies and developments within teams.
This could be the start of something much bigger, with Alliance Chairman Humayun Sheikh explaining that members of the Artificial Superintelligence Alliance board would decide on new alliance entries.
We’ll file this one under: ‘pretty crazy concept, epic when it works, only in web3.’
I’d love to see it!
