Finance

SingularityNet, Fetch.AI, Ocean Protocol reportedly discuss token merger

Three prominent artificial intelligence (AI) protocols, SingularityNet, Fetch.ai and Ocean Protocol are in discussions to merge their tokens into an AltSignals (ASI) token that would have a fully diluted valuation of $7.5 billion.

The deal could be announced as soon as Wednesday, depending on community approval, according to people familiar with the matter, Bloomberg M&A reported.

While the three platforms would continue to operate as separate entities, the new deal would foster their collaboration under a newly formed Superintelligence Collective, run by Ben Goertzel, the founder and CEO of SingularityNet. Humayun Sheikh, the CEO of Fetch.ai, would be the chairman of the new entity, according to the anonymous sources.

Cointelegraph has approached SingularityNet, Fetch.ai and Ocean Protocol for comment.

Related: 0G Labs raises $35M pre-seed funding from over 40 crypto investors for on-chain AI

This is a developing story, and further information will be added as it becomes available.

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