TL;DR
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Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) are merging into a single digital asset titled the ‘Artificial Superintelligence Alliance’ (ASI) – which could be a big-brained move.
Full Story
Back in April, community members of three different AI-focused crypto projects – Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) – voted to merge them into a single digital asset titled the ‘Artificial Superintelligence Alliance’ (ASI).
The merger, which was set to happen on June 13, has now been pushed back to July 15.
While it’s planned for a little later than expected, it’s still going to be here before we know it.
So, why is this merger even happening?
To put it simply, the major advantage of combining the three tokens into one is to have a more streamlined governance process across all three projects – which, in theory, will help accelerate innovation and progress for all.
The three projects will continue to work on their own initiatives, but, whenever there are disputes or decisions to be made, only those who have staked ASI will be able to vote.
(Kind of like if you had a single board of directors for three separate companies; but in this case the ‘board’ are ASI token stakers).
Plus, it sounds like it will bring each project closer together, possibly allowing each other to share innovative technologies and developments across teams.
This may be the start of something much bigger, with the Chairman of the Alliance, Humayun Sheikh, explaining that members of the Artificial Superintelligence Alliance board would decide on new entries to the Alliance.
We’ll file this one under: ‘pretty crazy concept, epic if it works, only in web3.’
Love to see it!
