TL;DR
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Moving forward, with approval, Fetch.ai, SingularityNET and Ocean will now all use the AltSignals ($ASI) token.
Full Story
…well, this is a first.
The top three crypto AI projects are merging each of their respected tokens into one (bet you didn’t know that was possible!).
…honestly, neither did we.
Moving forward, with approval, Fetch.ai, SingularityNET and Ocean will now all use the AltSignals ($ASI) token.
Which could have some big impact – but first, let’s step back and look at why the heck crypto AI projects are even a thing…
The end goal is to have a fast, cheap, decentralized payment system, specifically designed to support AI development.
Here’re the three main use-cases.
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Reward-based payments.
If someone contributes data to train an AI, provides computation power, or helps with development → they get paid in ASI tokens. -
User transactions.
Wanna use the AI systems that are being built by Fetch, SingularityNET and Ocean? You can pay for access to their services using $ASI. -
Governance.
Wanna vote on proposed changes to the ASI network? Every $ASI token you hold doubles as one vote.
This explanation is probably leaving you thinking “That’s cool and all, but why would three projects merge their tokens?”
It’s a great question! Allow us to answer it with another question:
Say you and your neighbors on either side decided to merge your homes into one big mega property — would that new mega property be worth more or less than one individual home?
Same goes for combing tokens.
It pools the value of all three tokens, into one concentrated mega token that can be used to buy services from three of the biggest crypto AI projects.
That’s a big-brained move if we’ve ever seen one.
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