- The ASI token merger has been postponed to July 15 due to “technical constraints” and regulatory demands
- The merger involves SingularityNET, Fetch.ai, and Ocean Protocol to create a scalable AI infrastructure.
- The delay allows more time for exchange listings, ensuring tokenholder requirements are met
The coin merger between three AI projects, which will produce the new ASI token, has been postponed until July 15. The delay is down to “technical constraints and the demanding regulatory environment” according to Humayun Sheikh, CEO of Fetch.ai, one of the projects involved. Sheikh told Decrypt that the group also needs to finalize deals with exchanges to list ASI before the token can launch.
“Gamechanger” Alliance is Delayed
The formation of ASI will integrate the extensive research, brands, technologies, and products from SingularityNET, Fetch.ai, and Ocean Protocol, with the collaboration aiming to establish a scalable AI infrastructure, leveraging blockchain technology to ensure ethical and trustworthy AI development and deployment. The alliance promises to accelerate the commercialization and adoption of AI applications on a large scale.
The merger’s impact is expected to challenge the dominance of big tech companies in AI development, offering a decentralized and collaborative approach to the industry. Bruce Pon, Ocean Protocol Founder, recently emphasized the alliance’s significance, saying, “The ASI Alliance is going to be a gamechanger for web3 adoption for AI and data.”
“Major Milestone” to Take Place in July
The merger was supposed to go ahead this week, but it has been put back until next month, with Sheikh also telling Decrypt that the cohorts “recently became aware of the need to delay the merger to ensure we meet the exacting processes required for our tokenholders.” The delay will give the alliance more time to work on centralized exchange listings, which will be crucial for those swapping tokens.
SingularityNET founder and alliance CEO Ben Goertzel said in a statement, “The finalization of the three-way tokenomic merger on July 15 will be a major milestone,” adding that the group anticipates “a series of progressively more exciting milestones after that as we leverage our $ASI token-based network to move toward increasingly capable AI systems and, in time, actual superintelligence.”
