By Michael Scott
SingularityNET, FetchAI, and Ocean Protocol rise as their communities prepare to vote on their collective future.
CoinGecko shows that a day following a merger statement, artificial intelligence (AI) tokens linked to SingularityNET, Fetch.AI, and Ocean Protocol have risen 30% for the week. On March 27, the projects revealed intentions to merge into one entity.
Following ratification from their respective communities, this merge would successfully develop an enormous decentralized artificial intelligence ecosystem referred to as the Superintelligence Alliance.
AI-Focused Tokens Rally 30% as Firms Edge Closer to Merging
A day following the news concerning the news regarding the merger, FetchAI.’s FET token was $3.41 (up 33%), Ocean Protocol’s OCEAN was $1.50 (up 32.5%), and SingularityNET’s AGIX was $1.43 (up 36.2%).
News concerning the merger comes as generative artificial intelligence becomes more pervasive, and artificial intelligence hallucinations continue to be an issue in the sector. In December, SingularityNET and Fetch.AI revealed an alliance to address the problem.
Fetch.AI noted that the partnership will combine its independent artificial intelligence and blockchain infrastructure, Ocean Protocol’s data sharing and monetization, and SingularityNET’s research and development. Artificial intelligence tokens have been in the market for a long time. However, the advent of Anthropic’s Claude AI and OpenAI’s ChatGPT has evoked interest in AI-themed cryptocurrencies.
On March 26, other artificial intelligence tokens rose following news that the IOTA Foundation would unveil a $10M investment fund during this year’s Investopia event in Abu Dhabi. This foundation is behind the Internet of Things Application (IOTA) cryptocurrency. IOTA was unveiled in 2016 and is presently $0.35, up 11.2%.
On March 28, SingularityNET’s community members were invited to vote on the suggested Superintelligence Alliance. On X, the marketplace revealed it was inviting AGIX token holders on the Cardano and Ethereum networks to be part of a community governance vote concerning the creation of the Artificial Superintelligence Alliance.
Race to Share Decentralized AI Future
Additionally, it noted that the vote would run from April 2 to April 6. The post also revealed that everyone’s participation would be critical in shaping decentralized AI’s future.
In a statement, Dr. Ben Goertzel, SingularityNET’s founder and chief, said that amid the intensification of the artificial intelligence revolution, it is crucial to ensure that ASI and AGI as they develop are not owned or managed by a specific party with skewed interests. They must be unveiled in a democratic, open, and decentralized manner.
Goertzel also said that since their inception, the move has been the shared vision of Fetch.AI, SingularityNET, and Ocean Protocol. As such, it is sensible for the three projects to combine and create a tokenomic network with greater power to challenge Big each and transfer the artificial intelligence world’s center of gravity into the decentralized ecosystem.