Three blockchain-based AI companies have announced the integration of their cryptocurrencies, in a move aimed at helping develop their own decentralized AI platform.
Singularity NET, Fetch AI and Ocean will merge their proprietary token protocols into a single token known as ASI, which will have a potential total market cap of about $7.6 billion, the companies said in a statement Wednesday, according to Bloomberg.
“We wanted to build one of the world’s first open, decentralized networks that would enable artificial general intelligence (AGI) to be accessible to all stakeholders who support the construction of the network,” said Humayun Shaikh, CEO of Fitch AI. “An alternative to the big companies that dominate the AI space. It’s open source, decentralized, and has all the tools needed to build AI.”
While the three platforms will continue to operate as separate entities, a governing board of the so-called Super AI Alliance will oversee and guide the operations of the combined token network.
The agreement comes at a time when major tech companies, including Alphabet and Microsoft, are investing heavily in artificial intelligence, which has the potential to change the way people interact with technology.
