Finst

Merger in crypto-AI sector draws closer

In late March, the crypto-AI protocols of Fetch.ai (FET), SingularityNet (AGIX) and Ocean Protocol (OCEAN) announced their intent to merge into one large project.

By Luc Vesters
• 1 min read
Merger in crypto-AI sector draws closer

In late March, the crypto-AI protocols of Fetch.ai (FET), SingularityNet (AGIX) and Ocean Protocol (OCEAN) announced their intent to merge into one large project. Now there are new details on how the merger will take place.

The starting point is June 11 with the renaming of the token from Fetch.ai to ASI. FET investors can begin converting their coins to ASI from this date. The exchange will also be available for AGIX and OCEAN starting June 13.

The conversion rate is as follows: FET to ASI (1:1), AGIX to ASI (1:0.433350), OCEAN to ASI (0.433226). The migration is done via the SingualarityNet platform. The protocol offers a token migration contract for this purpose.

By joining forces, the three protocols aim to become the largest decentralized network in the AI industry and put pressure on centralized providers such as OpenAI or Google.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.