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.

Before this, as The three AI projects that have been listed on the Binance trading platform, $FET, $AGIX, and $OCEAN, have become important targets for market investment in the AI sector. Affected by this news, SingularityNET (AGIX) rose 12.56% in the short term, and 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 community The first and most concerning thing is how to convert the original tokens held by investors?

According to reports, Fetch.ai’s token $FET will be converted into $ASI, SingularityNET’s $AGIX and Ocean Protocol’s $OCEAN at a ratio of 1:1 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, 611 million $ASI allocated to $OCEAN token holders. 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 rate remains unchanged , then based on the different prices of the three tokens, there will be a price difference in the final converted $ASI. 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. Users holding these three tokens on centralized trading platforms do not need to perform any operations.

What are the expectations after the merger?

After the merger of the three projects, a team called Superintelligence Collective will be established, 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, they did not introduce much 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.

As of the time of writing, Fetch.AI has a market capitalization of US$3.246 billion, ranking third in the AI sector, behind Render Networ ($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 an agreement with the Fetch.ai Foundation Cooperate to become Fetch.ai's first corporate ally, and Deutsche Telekom subsidiary MMS will also serve as a Fetch.ai verifier. 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 Prtocol 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 in the AGI direction before the merger of the three projects. 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 a decentralized artificial intelligence platform this year to create a basic environment suitable for running AGI systems.

It is worth mentioning that in the field of encryption, the merger of powerful projects is not the first time. In the DeFi Summer of 2020, Andre Cronje (AC), the founder of Yearn.finance, launched a series of acquisitions and mergers, but in the end his DeFi empire failed to achieve its goal.

Related reading: "Andre Cronje leads the batch "merger" of DeFi projects. Is it a good thing? "

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

欢迎加入律动 BlockBeats 官方社群：

Telegram 订阅群：https://t.me/theblockbeats

Telegram 交流群：https://t.me/BlockBeats_App

Twitter 官方账号：https://twitter.com/BlockBeatsAsia