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Why This AI Crypto Merger is a Smart Move
A good strategy coupled with perfect timing.
In March, Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) announced a new collaboration, the Artificial Superintelligence Alliance, and a token merger, which started earlier this month.
I have covered the first two protocols in previous pieces, with a dedicated article about SingularityNET (AGIX) that I will include towards the end of this.
Even though these consolidated assets still bear the FET ticker symbol, these will eventually convert to ASI following Fetch.AI’s mainnet upgrade.
I will refer to the new token as ASI throughout the rest of the piece to avoid confusion.
Playing the long game
To clarify, these will still operate as three standalone protocols but with a more unified focus and the benefit of having a mutual token.
It’s perfect timing for this major announcement as we’re gearing up for an expected post-halving bull run instead of making this change amid a bear market.
Furthermore, this is a wise move as it goes against the increasing number of competing projects and coins/tokens. This trend has led to much attention being directed away from serious projects and assets into many copycats instead of having more collaboration in this space.
Competition is important, but there comes a point when new projects mostly copy what another one is doing, albeit with slightly different documentation.
We should ask ourselves, “How many blockchains and protocols will be active (not just “around”) in five to ten years?
I’ve lost track of how many so-called “Ethereum killers” and (nowadays) “Solana killers” have come and gone over the years. For most mainstream blockchains and crypto assets, there are several lower-cap alternatives to potentially get quick gains.
In contrast, a unified approach can help this new alliance become a major player in this nascent industry. For context, AI-related cryptos currently account for ~$30.7 billion in circulating market cap, of which ASI represents around $3.7 billion.
This strategy will help boost the Alliance’s impact on decentralised AI through greater transparency, innovation…
