In the biggest event in the history of the SingularityNET token, it was announced Wednesday that the token will merge with two other tokens.
SingularityNET launched the AGI or AGIX token in 2017 as a funding mechanism for decentralised AI. It has established itself as a top-100 cryptocurrency and provided funding for the company, its research, and its many projects (including Mindplex).
Ocean Protocol and Fetch.ai are like-minded projects. Ocean Protocol is a platform for tokenising and exchanging datasets, and Fetch.ai is a decentralised machine-learning network. The executive teams of the three companies have agreed on the terms of the merger, which now will be put to a vote of the tokenholders of the networks.
Since the merger was announced on Wednesday, the prices of all three tokens (ticker symbols FET, AGIX, and OCEAN) have risen significantly, forming a combined market capitalisation of over $6.2 billion at the time of writing: comparable to the market cap of DAI or Litecoin.
The three companies will maintain separate teams and managerial independence after the merger; the aim is not necessarily to turn their three software products into one, but rather to unify and strengthen their economic health to facilitate building Artificial Superintelligence.
The new token is to be called the ASI token, representing its goal of helping create Artificial Superintelligence, as the same way as the AGI token aimed at Artificial General Intelligence.
We will have more on this story as it unfolds.