crypto token

Three AI-Crypto Firms Are Merging Their Tokens

Three prominent players in the AI and blockchain space, namely SingularityNet, Fetch.ai, and Ocean Protocol, are reportedly in advanced discussions to merge their respective tokens. This strategic move aims to create an AltSignals (ASI) token with an estimated fully diluted valuation of $7.5 billion. The potential deal, speculated to be announced as early as Wednesday, hinges on community approval, as per insights from Bloomberg M&A sources.

Formation of Superintelligence Collective

Image Source: cryptoslate.com

Under the proposed merger, although SingularityNet, Fetch.ai, and Ocean Protocol will maintain their distinct operations, they will collaborate more closely within the newly established Superintelligence Collective. Ben Goertzel, the visionary founder and CEO of SingularityNet, is slated to lead this collective, while Humayun Sheikh, the CEO of Fetch.ai, will assume the role of chairman.

The merger reflects a broader trend of collaboration among blockchain-based AI protocols, aiming to foster decentralized AI development beyond centralized control or dominant stakeholders.

Currently, Fetch.ai’s (FET) token commands the largest market capitalization among the trio at $2.72 billion, followed by SingularityNet’s (AGIX) at $1.7 billion, and Ocean Protocol’s (OCEAN) at $927 million, according to data from CoinMarketCap. This consolidation comes at a time of heightened interest in AI protocols, coinciding with reports of a potential $40 billion AI investment fund by the Saudi Arabian government, in partnership with Andreessen Horowitz.

This prospective fund, expected in the latter half of 2024 pending approval, could establish Saudi Arabia as a major player in AI investments, potentially surpassing Microsoft’s substantial investments in OpenAI, which totaled $13 billion. Moreover, recent developments in Europe, such as Google’s 250 million euro fine for AI-related breaches of EU copyright laws, underscore the growing regulatory and financial landscape surrounding AI technologies.

Also Read: Nvidia Partner SK Hynix Plans to Invest $4 Billion in Indiana

As the AI and blockchain sectors converge, mergers like the one between SingularityNet, Fetch.ai, and Ocean Protocol highlight the industry’s maturation and the quest for synergistic collaboration. This potential alliance, with its formidable market valuation and visionary leadership, signals a transformative phase in decentralized AI development, poised to shape the future of technological innovation and investment strategies globally.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Telegram’s ICO Token Is Finally Open for Public Sale

Telegram, the famous and most secured chat app, will be organising a sale for its crypto token, ‘Gram’, open for its retail investors through a limited listing. The sale will be carried out prior to a full public sale to be hosted by the company in coming October, starting from July 10.

gram token from telegram — Image Source: news.bitcoin.com

Telegram has previously hosted a massive token sale in the month of February and March in 2018, where it raised a record-high $1.7 billion, despite the sale being limited only to accredited investors. It was the biggest fundraiser organised by a crypto token offering. The fundraiser was to support the development of the Telegram Open Network (TON), a blockchain project that was targetted to decentralise the operations, including file sharing, carried out through digital communication on Telegram.

The sale will go
live on the crypto exchange Liquid and is a limited offering.
According to the Gram sale page on Liquid’s website, the sale is
open globally, except for nations, including the U.S., Korea and
Japan, due to some security issues. Though the investors can buy the
tokens in exchange for the U.S. dollars or the USDC stable coin.

The website also
states that the sold tokens won’t be tradeable as soon they are
sold. “The tokens being sold will not be released until after TON
goes live (mainnet release), in accordance with the delivery
schedule. Purchasers will not be able to transfer, withdraw, or trade
the Grams before they are released.” says the gram sale page on the
Liquid website.

Telegram has not revealed on the cost and the number of the tokens to be sold. But it has revealed that it will disclose the number of tokens held by Gram Asia. Gram Asia is a Korea based organization, which claims to hold the biggest share of the Gram tokens in Asia.

The company has not
commented on the news yet, and an unofficial TON channel has
requested the investors to wait for the piece of official information
from Telegram.

Yashica Vashishtha

Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.

Formation of Superintelligence Collective

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