Three leading artificial intelligence (AI) protocols – SingularityNet, Fetch.ai, and Ocean Protocol – are reportedly in discussions to merge their tokens into a new AltSignals (ASI) token with a fully diluted valuation of $7.5 billion. The deal, subject to community approval, is anticipated to be announced soon, potentially on Wednesday, as per Bloomberg M&A sources.
Under the proposed merger, the three platforms would remain separate entities but collaborate under a newly formed Superintelligence Collective. Ben Goertzel, the founder and CEO of SingularityNet, would oversee the collective, while Humayun Sheikh, the CEO of Fetch.ai, would serve as its chairman.
SingularityNet, Fetch.ai, and Ocean Protocol share a common goal of developing blockchain-based decentralized AI protocols, aiming to prevent control by centralized entities or large stakeholders.
As of current CoinMarketCap data, Fetch.ai’s (FET) token holds the largest market capitalization among the three, standing at $2.72 billion. SingularityNet’s (AGIX) token follows with a market cap of $1.7 billion, while Ocean Protocol’s (OCEAN) token has a market capitalization of $927 million.
The potential merger coincides with heightened interest in AI protocols, with recent reports suggesting the Saudi Arabian government’s consideration of a $40 billion investment fund for AI development in partnership with Silicon Valley venture capital firm Andreessen Horowitz (a16z). Microsoft’s significant investments in OpenAI and Google’s recent fine related to AI model training in Europe further underscore the growing importance of AI development globally.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up