Update on FET, AGIX, and OCEAN Tokens in the AI Community

The native tokens of three prominent Artificial Intelligence (AI) projects, Fetch.ai, SingularityNET, and Ocean Protocol – namely FET, AGIX, and OCEAN – experienced a decline in trading value on Tuesday. This decline coincided with a market-wide concern over the potential impact of the Federal Reserve's stance on interest rates in the United States.

However, the drop in the value of these three AI-related tokens by more than 7% each can be attributed to multiple factors. Notably, the Artificial Superintelligence Alliance, an entity focused on AI research that unites Fetch.ai, SingularityNET, and Ocean Protocol, made a significant announcement.

On a recent date, an update related to the anticipated token merger of these three projects under the token ASI was shared by the Artificial Superintelligence Alliance. The merger, initially scheduled for June 13, 2024, has been rescheduled to July 15, 2024.

This delay implies that FET, AGIX, and OCEAN will continue to be traded as separate entities on exchanges until the new merger date in July. This extension allows exchanges, validators, and other partners within the ecosystem to adequately prepare for the upcoming changes.

Summary of the Announcement

The ASI update mentioned that although the postponement is regrettable, it will ultimately benefit the community by ensuring a superior user experience characterized by enhanced accuracy and efficiency.

Statements from Key Figures

• Humayun Sheikh, the CEO of Fetch.ai, expressed that while the delay is temporary, it does not impede the significant advancements made in establishing a decentralized superintelligence network. The teams are actively collaborating with centralized exchanges to finalize the remaining procedures, with gratitude towards the ongoing support from the community and stakeholders during this final phase.

• Ben Goertzel, the founder and CEO of SingularityNET Foundation, highlighted the upcoming tokenomic merger on July 15 as a pivotal milestone. The organization anticipates a series of even more remarkable achievements following the merger as they leverage the $ASI token network to advance towards sophisticated AI systems and, eventually, genuine superintelligence.

Future Prospects for FET, AGIX, and OCEAN Tokens

With the recent announcement, Fetch.ai, SingularityNET, and Ocean Protocol tokens will retain their independence and continue to be traded as individual assets on exchanges. Subsequent integrations with third-party entities will lead to the introduction of the ASI token. Ultimately, FET, AGIX, and OCEAN tokens will merge to form the unified ASI token.

Currently, FET is valued at $1.60 per token, while AGIX and OCEAN are priced at $0.68 each.