AI Protocols Merge in $7.5 Billion Deal, Reshaping Decentralized AI Development Landscape
Summary:
The AI protocols SingularityNet, Fetch.ai, and Ocean Protocol are set to merge in a deal that could set a new benchmark for decentralized AI development, according to Ilan Rakhmanov, CEO and Founder of ChainGPT. This $7.5 billion merger points towards the increasing significance of decentralized AI as it brings high-profile development resources and collaboration in pursuit of decentralized AI protocols. The move comes amidst growing interest in AI protocols and could lead to better security, privacy, and transparency. The proposed merger is seen as a pathway to ecosystem growth and long-term value addition.
A pioneering triangle of artificial intelligence (AI) protocols - SingularityNet, Fetch.ai, and Ocean Protocol – is on the verge of a token merger that is predicted to reshape the landscape of decentralized AI development, according to Ilan Rakhmanov, ChainGPT's Founder and CEO. In his dialogue with Cointelegraph, Rakhmanov suggested this strategic move may attract top-tier development resources and foster unconventional collaborations, directing these combined forces towards decentralized AI development. He emphasized that the union of both knowledge and technology might lay the foundation for decentralized AI principles that robustly support safety, confidentiality, and openness.
The groundbreaking $7.5 billion AI token merger was substantiated on March 27, shortly after conjecture surrounding this prospective agreement began circulating. These three protocols are bound together by a mutual ambition to engineer blockchain-crafted decentralized AI protocols, immune from manipulation by centralized entities or influential shareholders. According to Rakhmanov, this substantial merger evidences the superior offerings of decentralized AI when compared to centralized alternatives. He reiterated the increasing normalization of AI in individuals’ personal, professional, and secret lives, making the safeguarding of user data a priority. The idea of a sturdy, decentralized AI platform shielded from central influence is one truly worth striving for, he added.
The protocols' decree was publicized within a time of heightened intrigue in AI protocols. This announcement came just a week after news disseminated of the Saudi Arabian government contemplating the foundation of a $40 billion fund aimed at AI cultivation, in strategic alliance with Silicon Valley-based venture capital powerhouse Andreessen Horowitz (a16z). This fund is slated for inception during the second half of 2024 and, upon approval, would mark the Saudi government as the most prominent financial backer in the AI sphere.
Chiliz's CEO and co-founder, Alexandre Dreyfus, proposed to Cointelegraph that the AI token merger is essentially the key to exponential ecosystem expansion and the generation of enduring value. Dreyfus is excited about the idea of merging tokens while maintaining the independence of each company – their concerted endeavors would be funneled into the same token and ecosystem, outlining the future trajectory of token mergers and acquisitions (M&A). Dreyfus further suggested that, should the imminent AI token retain its comprehensive diluted worth of $7.5 billion, it could potentially catapult into the top 20 cryptocurrencies when assessed by market capitalization.
Published At
3/28/2024 7:10:00 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.