TL; DR
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Proceed with approval, Collect.aiSingularityNET and Ocean will now all use the AltSignals ($ASI) token.
Full story
…well, this is a first.
The top three crypto AI projects are merging each of their respected tokens into one (I’m sure you didn’t know that was possible!).
…honestly, neither do we.
Proceed with approval, Collect.aiSingularityNET and Ocean will now all use the AltSignals ($ASI) token.
That could have a big impact – but first let’s take a step back and look at why crypto AI projects even exist in the first place…
The end goal is to have a fast, cheap, decentralized payment system, specifically designed to support the development of AI.
These are the three main use cases.
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Reward-based payments.
If someone contributes data to train an AI, provides computing power, or helps with its development, they get paid in ASI tokens. -
User transactions.
Do you want to use the AI systems built by Fetch, SingularityNET and Ocean? You can pay to access their services with $ASI. -
Management.
Would you like to vote on proposed changes to the ASI network? Each $ASI token you hold doubles as one vote.
This explanation probably makes you think, “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:
Suppose you and your neighbors on both sides decided to merge your homes into one large mega-property – would that new mega-property be worth more or less than one individual home?
The same goes for combining tokens.
It bundles the value of all three tokens into one concentrated megatoken that can be used to purchase services from three of the largest crypto AI projects.
That’s a smart move if we’ve ever seen one.