According to Bloomberg Terminal, sources have revealed that SingularityNET, Fetch.ai, and Ocean Protocol, three cryptocurrency artificial intelligence (AI) projects, are in negotiations for a merger to collectively build a decentralized AI platform.
It is reported that these three projects plan to merge their tokens into one token called “ASI,” with a fully diluted valuation of approximately $7.5 billion. The announcement of this transaction may be made on Wednesday, but it requires approval from community members.
Furthermore, although these three projects will continue to operate as independent entities, they will collaborate under the guidance of a collective called the “Superintelligence Collective.” This organization will be managed by Humayun Sheikh, the founder and CEO of SingularityNET.
Following the release of this news, the token prices of SingularityNET, Fetch.ai, and Ocean Protocol experienced rapid increases, with OCEAN recording the highest surge, rising over 30% in the past 24 hours.
