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All set for the merger of SingularityNET, Fetch.ai, and Ocean Protocol into the crypto ASI: the latest updates

I protocolli crittografici SingularityNET, Fetch.ai ed Ocean protocol hanno annunciato gli ultimi passaggi prima della finalizzazione della fusione nella crypto Artificial Superintelligence Alliance (ASI).

The nuovo token, che dovrà supportare la più grande rete decentralizzata open source focalizzata sul settore dell’intelligenza artificiale, è atteso per il 13 giugno.

The capitalizzazione di mercato completamente diluita sarà di 6 miliardi di dollari: ci si aspetta un pump o un dump nel primo giorno di listing? 

Let’s see everything in detail below.

SingularityNET, Fetch.ai ed Ocean Protocol announce the finalization of the crypto Artificial Superintelligence Alliance (ASI): debut scheduled for June 13

Today the leading projects in the field of artificial intelligence SingularityNET, Fetch.ai, and Ocean Protocol, have announced the latest steps before the finalization of the merger of their respective tokens AGIX; FET and OCEAN into the crypto Artificial Superintelligence Alliance (ASI).

The merger had already been unveiled at the end of March, when the collective had chosen to join forces to accelerate the process of expanding their technologies around a single entity tasked with leading the so-called “Superintelligence Collective”.

According to what was reported by the exponents of the AI projects, the crypto ASI will start with a fully diluted market capitalization (FDV) of 6 billion dollars, while the circulating capitalization should reflect the sum of the capitalizations of the individual resources, considering that all holders will carry out the migration.

As part of the latest preparations, the conversion rates previously announced with the owners of FET have been confirmed, who will be able to claim ASI at a 1:1 ratio, while the holders of AGIX and OCEAN will be based on a 0.433350:1 ratio.

As for the timing of this transition, so eagerly awaited in the artificial intelligence industry, the tokens of SingularityNET, Fetch.ai, and Ocean Protocol will officially migrate to ASI on June 11, while the listing of the crypto is expected on June 13.

As previously announced, the 3 distinct communities will publish a secure token migration contract, where over 200,000 users will be able to perform the conversion transition into the ASI crypto.

The ultimate goal of the union of individual projects is to provide a decentralized alternative to solutions controlled by big tech companies like Google and Microsoft, impossible to achieve without sharing their respective resources and corporate know-how.

A tal proposito Humayun Sheikh, CEO e fondatore di Fetch.ai e Presidente dell’ASI, ha affermato quanto segue:

“Questa Alleanza traccia un percorso diverso in un mondo in cui l’innovazione dell’intelligenza artificiale è in forte espansione. Con le nostre ritrovate economie di scala, l’Alleanza può fare progressi concreti per cambiare il modo in cui le Big Tech controllano la narrativa e la direzione dell’intelligenza artificiale. Abbiamo molta strada da fare, ma questo primo passo fornisce le basi per altri con una missione simile per fare la differenza”.

It is worth noting how this merger will allow for the acceleration of the commercialization and monetization of each foundation’s technology, while maintaining mutual independence, pushing AGI towards new horizons guided by superintelligence.

The unification of the 3 network lays the foundation for the expansion of a scalable, open to all, and reliable AI infrastructure for the implementation of large data sets.

Will the crypto ASI increase in price at listing?

Difficult to understand what the price action of the new crypto ASI will be, which represents the union of the tokens FET, AGIX, and OCEAN from the respective projects Fetch.ai, SingularityNET, and Ocean Protocol.

Obviously everything will depend on the general conditions of the crypto market at the time of the debut of the new token, scheduled for June 13, and the will of the king Bitcoin.

Ad ogni modo, visto l’hype creatosi dalla news della fusione di questi top protocol del settore intelligenza artificiale, we could expect a bull price action on the day of the listing.

Moreover, considering the graphical situation of the individual tokens FET, AGIX, and OCEAN with their bullish trend currently on pause after a significant rise in the early months of 2024, it is possible that the launch of ASI represents the necessary event to attract trading volumes and to push demand pressure once again.

What we know for sure is that ASI will be launched initially with the same price as FET, being redeemable with a conversion rate of 1:1 with the Fetch.ai token, but it will have different tokenomics.

One factor worth focusing on to understand whether the valuation of ASI will be underestimated or overestimated concerns the fully diluted capitalization of the asset (FDV) and its relationship with the 3 tokens participating in the merger.

ASI will indeed be inaugurated with a total supply of 2.63055 billion tokens for an FDV of 6 billion dollars.

FET, on the other hand, has a FDV of 8 billion dollars with a circulating supply of only 24.5% compared to the total.

AGIX and OCEAN have an FDV of 1.92 billion and 1.36 billion dollars with respectively 64.18% and 40.31% of the circulating supply unlocked.

Summing the circulating capitalizations of the 3 coins, we arrive at an initial valuation of 3.756 billion dollars, which corresponds to approximately 62% (circulating supply at the launch of ASI) of the fully diluted valuation of 6 billion dollars.

Overall, therefore, there will be fewer tokens to unlock (and consequently less dumpable value) on the crypto ASI rather than individually on FET, ASI, and AGIX.

On this front, which must still be contextualized with the future utility of the resource in the broad cryptographic ecosystem, it seems that the new token of the “Superintelligence Collective” will be more appealing in terms of tokenomics compared to the specific coins that constitute it.

We remain waiting to see how the market will price the debut on the market of what is expected to be the AI cryptocurrency par excellence of the entire market.

Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.