Crypto News– Three blockchain-based artificial intelligence companies are reportedly in discussions to merge their cryptocurrency tokens in order to develop a decentralized AI platform, as per a report by Bloomberg.
Three top AI projects see significant surge of over 30% amidst rumors of token merge
The potential merger involves SingularityNET, Fetch.ai, and Ocean Protocol, according to sources familiar with the matter who requested anonymity due to the sensitive nature of the information.
Following the news, SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) have all seen positive reactions in their token prices, rising by 12%, 15%, and 34% respectively at the time of publication. CryptoSlate data shows that the sector as a whole has risen by 23% over the past seven days, with all three tokens now ranking in the top ten.
Sources suggest that the proposed merger would entail consolidating the companies’ tokens into a single ASI token, with an estimated fully diluted value of around $7.5 billion. The deal, potentially announced as early as Wednesday, would require approval from each community’s members.
Token merge rumors drive three leading AI projects to surge by over 30%
Under the terms of the potential merger, the three platforms would reportedly remain separate entities but collaborate under the oversight of a Superintelligence Collective led by SingularityNET founder and CEO Ben Goertzel. Fetch.ai CEO Humayun Sheikh, an early investor in Google’s AI acquisition DeepMind, would reportedly serve as chairman.
Bloomberg highlights that emerging AI-oriented platforms like SingularityNET, Fetch.ai, and Ocean Protocol are competing to develop decentralized AI technology on the blockchain, aiming to counter the centralization of control in the hands of large, shareholder-driven corporations such as Microsoft, Google, and Facebook.
SingularityNET, Fetch.ai, and Ocean Protocol representatives have reportedly declined to comment on the matter, according to Bloomberg.
As of now, there have been no official statements or information regarding the potential merger from the projects through their social media channels or official blogs. The decentralized AI crypto community awaits further details on the proposed ASI token and its implications for future decentralized AI development on the blockchain.
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