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Crypto Giants SingularityNET, Ocean Protocol, and Fetch.AI Merge in Multi-Billion Dollar Deal

TL;DR

  • SingularityNET, Ocean Protocol, and Fetch.AI merge to form ASI, worth $7.5 billion.
  • ASI token will be on Cardano, Ethereum, Fetch.AI, and Hypercycle blockchains.
  • Cardano’s inclusion boosts its status despite past criticism, impacting ADA’s future.

In a move to reshape the landscape of cryptocurrency and artificial intelligence (AI) sectors, three major players—SingularityNET, Ocean Protocol, and Fetch.AI—have announced a multi-billion dollar merger. This historic collaboration, forming the Artificial Superintelligence Alliance (ASI), signifies a pivotal moment in the intersection of AI and blockchain technology.

The birth of the Artificial Superintelligence Alliance (ASI)

The merger of SingularityNET, Ocean Protocol, and Fetch.AI marks the genesis of the Artificial Superintelligence Alliance (ASI), a consortium aimed at pioneering AI and blockchain integration advancements. With an estimated combined value of $7.5 billion, this alliance is poised to unleash a new era of innovation and disruption in both industries.

SingularityNET CEO, Ben Goertzel, unveiled a strategic multi-chain approach for deploying the ASI token. The ASI token, representing the combined value of the merged projects, will be available on prominent blockchain platforms, including Cardano, Ethereum, Fetch.AI’s native layer 1 network, and Hypercycle.

This strategic decision ensures accessibility to a broader user base and leverages the unique strengths of each blockchain platform. SingularityNET’s functional bridge converter on the Cardano mainnet facilitates seamless cross-chain movement of the ASI token, while future integrations with platforms like Internet Computers (ICP) are being considered.

Cardano’s emergence as an AI-hosting blockchain

Cardano’s inclusion as a hosting blockchain for the ASI token is a significant development. Despite facing public criticism for perceived shortcomings compared to competitors like Ethereum, Cardano’s established presence in the crypto landscape positions it as a leader. The consideration of Cardano for hosting a pioneering project like ASI underscores its potential for future growth and innovation in the convergence of AI and blockchain.

The impact of ASI token adoption on Cardano’s native token, ADA, remains to be seen. While direct price increases or user surges for ADA are not guaranteed, this collaboration casts a positive light on the Cardano blockchain within the crypto community. With a current market capitalization of $23 billion, ADA remains a top-ten cryptocurrency asset, solidifying Cardano’s position as a major player in the ever-evolving blockchain landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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James Kinoti

A crypto enthusiast, James finds pleasure in sharing knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. The latest innovations in the crypto industry, crypto gaming, AI, blockchain technology, and other technologies are his preoccupation. His mission: be on track with transformative applications in various industries.

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