A new partnership aims to provide an alternative to tech giants’ growing control of the AI industry.
What if artificial intelligence combines with cryptocurrency? The answer would be perhaps the future of everything.
One such merger happened earlier, when blockchain networks Fetch.ai , SingularityNET, and Ocean Protocol combined their tokens into one and created an alliance for decentralized AI — or “ASI,” which stands for “artificial superintelligence.”
𝗪𝗵𝗮𝘁’𝘀 𝘁𝗵𝗲 𝗽𝘂𝗿𝗽𝗼𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗮𝗹𝗹𝗶𝗮𝗻𝗰𝗲?
All three blockchain networks will continue to operate as before, but the new agreement will enable the platforms to collaborate to create blockchain-based decentralized AI protocols, which cannot be controlled by large stakeholders or centralized parties. The goal is to provide a viable alternative to tech giants’ control over AI development, usage, and monetization.
Fetch.ai is a blockchain network that provides tools to build innovative AI apps and services. Its native token is FET. Ocean Protocol is a blockchain-based marketplace that acts as a bridge between data providers and data consumers, and its native token is OCEAN. SingularityNET, on the other hand, offers a blockchain-based AI marketplace, and its native token is AGIX.
𝗧𝗼𝗸𝗲𝗻𝘀 𝗷𝘂𝗺𝗽𝗲𝗱 𝗮𝗹𝗺𝗼𝘀𝘁 𝟯𝟬% 𝗶𝗻 𝗮 𝘄𝗲𝗲𝗸
According to crypto tracking site CoinGecko, Fetch.ai’s FET token has a market cap of $3.3 billion. Following that are SingularityNET’s AGIX token, with a market cap of $1.7 billion, and Ocean Protocol’s (OCEAN) token, with a market cap of $856 million. The merger will bring the new token ASI to a fully diluted valuation of $7.5 billion.
𝘖𝘷𝘦𝘳 𝘵𝘩𝘦 𝘱𝘢𝘴𝘵 𝘴𝘦𝘷𝘦𝘯 𝘥𝘢𝘺𝘴, 𝘍𝘌𝘛 𝘴𝘩𝘢𝘳𝘦𝘴 𝘳𝘰𝘴𝘦 28%, 𝘈𝘎𝘐𝘟 𝘴𝘩𝘢𝘳𝘦𝘴 𝘴𝘰𝘢𝘳𝘦𝘥 31%, 𝘢𝘯𝘥 𝘖𝘊𝘌𝘈𝘕 𝘴𝘩𝘢𝘳𝘦𝘴 𝘫𝘶𝘮𝘱𝘦𝘥 28%.
𝗙𝗿𝗼𝗺 𝗰𝗵𝗶𝗽 𝘁𝗼 𝗯𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻, 𝗔𝗜 𝗶𝘀 𝗲𝘃𝗲𝗿𝘆𝘄𝗵𝗲𝗿𝗲
In the past few years, artificial intelligence has gained widespread acceptance across all sectors of technology. Amazon, Google, Apple — everyone is betting on AI. As blockchain companies strive to make data more decentralized and transparent, it’s no wonder they want to join the AI space.
