SingularityNET, Fetch.ai, and Ocean Protocol launch FET token on Cardano

Mila September 6, 2024

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Key Takeaways

The ASI Alliance has launched the FET token on Cardano to promote a decentralized AI ecosystem.
Enhanced tools like a direct migration tool and an Ethereum-Cardano bridge are set to improve FET’s liquidity and accessibility.

SingularityNET, Fetch.ai, and Ocean Protocol, under the Artificial Superintelligence (ASI) Alliance, have officially deployed the FET (ASI) token on the Cardano blockchain, as announced by the ASI Alliance today.

The Alliance said they chose Cardano for its security, speed, and low transaction costs. They believe Cardano’s robust infrastructure will benefit 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, top security and mathematical elegance of the Cardano infrastructure have been an inspiration to me since the early days of SingularityNET,” said Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance.

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

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

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

The Alliance expects the upcoming tools to improve liquidity and accessibility of the FET token, encouraging broader adoption within the decentralized ecosystem.

“As we grow the ASI Alliance in accordance with its mission to lead the transition from today’s AI applications to tomorrow’s Artificial General Intelligence and then superintelligence, the Cardano native-asset version of the ASI token and Cardano versions of ASI software tools and platforms are envisioned to play an ongoing central role,” Goertzel commented on the integration.

The Alliance stated that they will continue to invite developers, businesses, and community members to explore and contribute to the growing decentralized AI network.

Earlier in March, Fetch.ai, SingularityNET, and Ocean Protocol announced their union under 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 (the ASI token) for their plan. The token merger officially commenced in July, as reported by Crypto Briefing.