SingularityNET announces ASI token merger dates for FET, AGIX, OCEAN

SingularityNET announces the merger dates for FET, AGIX, and OCEAN into the new ASI token, aiming to create a unified decentralized AI network.

SingularityNET (AGIX) has officially announced the finalized dates for the Artificial Superintelligence Alliance (ASI) token merger. This marks a significant step toward uniting the fetch.ai (FET), AGIX and Ocean Protocol (OCEAN) communities.

The merger to unify under one decentralized artificial intelligence (AI) network will begin on June 11, with the FET token being renamed ASI and completed on June 13.

Related: More crypto AI alliances emerge following $7.5B token merger

Token merger details

For holders of FET, AGIX and OCEAN tokens, the merger will involve converting these tokens into ASI tokens at specific conversion rates.

FET tokens will be converted into ASI at a 1:1 ratio, AGIX at a ratio of 1:0.433350, and OCEAN at a ratio of 1:0.433226.

ERC-20 tokens will be made available on June 11 for users to swap FET for ASI tokens via a token migration contract, followed by AGIX and OCEAN on June 13.

“In the coming days, we will provide step-by-step guides on ERC-20 token migration as well as more information on the migration process for AGIX holders on Cardano.”

Related: Tokenholders approve $7.5B AI merger

Migration process explained

The migration process will occur on SingularityNET’s decentralized AI platform, where users can swap their tokens securely using an audited token migration contract provided by SingularityNET.

The ASI merger aims to create the largest open-sourced decentralized network in the AI industry, accommodating over 200,000 tokenholders.

“The ASI token will function across the combined decentralized AI network, providing unprecedented scale and power.”

Related: Verifier nodes debut to strengthen data decentralization across gaming and AI

The AI push

In an effort to promote the safer integration of AI into everyday life, OpenAI, the creator of ChatGPT, recently launched an initiative to expand its services in the education sector.

ChatGPT Edu, an AI large language model tailored for university use, offers students, faculty members, researchers and campus operations access to “enterprise-level security and controls […] for educational institutions.”

Oxford, Wharton, the University of Texas at Austin, Arizona State University, and Columbia University were cited as using the university-level tool and service.