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Home»BLOCKCHAIN NEWS»SingularityNET, Fetch.ai and Ocean Protocol Launch FET Tokens on Cardano
BLOCKCHAIN NEWS

SingularityNET, Fetch.ai and Ocean Protocol Launch FET Tokens on Cardano

By Crypto FlexsSeptember 6, 20243 Mins Read
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SingularityNET, Fetch.ai and Ocean Protocol Launch FET Tokens on Cardano
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Key Points

  • The ASI Alliance has launched FET tokens on Cardano to promote a decentralized AI ecosystem.
  • Enhanced tools such as the direct migration tool and the Ethereum-Cardano bridge will improve the liquidity and accessibility of FET.

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SingularityNET, Fetch.ai, and Ocean Protocol, all part of the Artificial Superintelligence (ASI) Alliance, have officially deployed FET (ASI) tokens on the Cardano blockchain, following an announcement from the ASI Alliance today.

The Alliance said it chose Cardano for its security, speed, and low transaction costs. They believe Cardano’s robust infrastructure will aid in the development of ASI. The deployment is part of the team’s mission to foster a decentralized and ethical AI ecosystem.

“The low cost, high speed, extreme security and mathematical elegance of Cardano’s infrastructure have inspired me from the early days of SingularityNET,” said Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance.

The FET token has now been rebranded to the ASI ticker and is now the native Cardano token (CNT), offering enhanced functionality and integration within the Cardano ecosystem, the Alliance said. The change is part of a broader strategy to enhance interoperability across major blockchain networks.

Distributing FET as a native Cardano token is just the beginning. The Alliance also announced plans to integrate additional Cardano features after the move.

These features include a direct migration tool from CNT-AGIX to CNT-FET and an updated Ethereum-Cardano bridge that facilitates seamless FET transfers between the two networks.

The Alliance expects that the upcoming tools will increase the liquidity and accessibility of the FET token, thereby facilitating broader adoption within the decentralized ecosystem.

“As we grow the ASI Alliance in our mission to lead the transition from today’s AI applications to tomorrow’s artificial general intelligence and superintelligence, we expect the Cardano native asset version of the ASI token and the Cardano version of the ASI software tools and platform to continue to play a central role,” Goertzel commented on the integration.

The coalition said it will continue to invite developers, businesses, and community members to explore and contribute to the growing decentralized AI network.

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In early March, Fetch.ai, SingularityNET, and Ocean Protocol announced a coalition called the Superintelligence Alliance as part of a strategic move to develop a decentralized and ethical AI ecosystem.

The alliance also agreed to merge their respective tokens to form a unified token for the scheme (the ASI token). According to Crypto Briefing, the token merge officially began in July.

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