Fetch.ai, SingularityNET, Ocean Protocol Set Date for Artificial Superintelligence Alliance Token Merger

• The three firms will merge their crypto tokens under the auspices of AI-focused Web3 platform Fetch.ai's FET, which will be renamed ASI.
• AI has captured the attention of the technology world for the last year and a half, with concerns aired that tech giants like Microsoft, Alphabet and Meta will establish a hegemony over the sector.

The three-way merger of the crypto tokens of artificial intelligence-focused protocols Fetch.ai, SingularityNET and Ocean Protocol will complete on June 13.

The tokens will become one under the auspices of AI-focused Web3 platform Fetch.ai's FET$0.1560, which will be renamed ASI, for Artificial Superintelligence Alliance. As of June 11, users will be able to swap FET for ASI, with the native tokens of SingularityNET AGIX$0.06860 and Ocean Protocol OCEAN$0.1103 following when the merger completes two days later, the firms said on Wednesday.

AI has captured the attention of the technology world for the last year and a half, with concerns aired that tech giants like Microsoft (MSFT), Alphabet (GOOG) and Meta (META) will establish a hegemony over the sector. That's partly what spurred the Web3 companies to try to build a decentralized AI infrastructure, where data is transparent and shared openly between contributors.

The three individual tokens are all up over 2% in the last 24 hours, according to CoinMarketCap data. The broader digital asset market, as measured by the CoinDesk 20 Index (CD20) has dropped around 0.55%.

Read More: The Future of AI Is Decentralized

CORRECTION (May 29, 15:14 UTC): Companies correct that the merger date applies only to token.