Fetch.ai, SingularityNET, and Ocean Protocol have formed the Artificial Superintelligence Alliance (ASI) with a $7.5 billion valuation.

The ASI aims to decentralize the AI industry, challenging the dominance of tech giants and fostering cooperative development of AI protocols.

Following the merger, the native tokens FET, AGIX, and OCEAN have increased in value.

Ben Goertzel, CEO of SingularityNET, will lead ASI, with Fetch.ai CEO Humayun Sheikh as the chairman.

The merger proposals are under a two-week community consultation with voting from April 2 to April 16.

The formation of ASI underscores the increasing integration of AI and blockchain to ensure data decentralization and transparency.

Separately, 5thScape, an augmented and virtual reality crypto project, has raised $2.8 million in one of 2024's most successful presales.

Some members of the crypto community have raised concerns about the lack of detailed information regarding the ASI merger.