What is the Artificial Superintelligence Alliance (FET, formerly Fetch.ai)?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 6 min
In short
FET began as the token of Fetch.ai, a blockchain for autonomous agents. In 2024, Fetch.ai, SingularityNET and Ocean Protocol announced a merger as the Artificial Superintelligence Alliance (ASI), consolidating their tokens into FET. The stated goal is to bring decentralised AI services into a single economy.
Key points
- Fetch.ai is built on the Cosmos SDK and designed around transactions between autonomous agents
- In 2024 it merged with SingularityNET and Ocean Protocol, consolidating tokens into FET
- SingularityNET provided a marketplace for AI services; Ocean Protocol handled data exchange
- The individual products continue to be developed separately after the merger
Definition
The alliance (ASI) formed by Fetch.ai's autonomous agent platform, SingularityNET's AI service marketplace and Ocean Protocol's data exchange, together with their shared token FET.
Fetch.ai's premise is a world where machines negotiate and settle deals without a person driving each step: autonomous agents find counterparties, agree terms and pay for things like parking spaces, spare electricity or unused delivery capacity.
Its chain is built with the Cosmos SDK and interoperates with other Cosmos chains. Over time the project added a naming and discovery layer for registering and finding agents, plus developer tooling that hosts agent runtimes.
The 2024 merger brought SingularityNET's marketplace for buying and selling AI services and Ocean Protocol's mechanisms for publishing and charging for data into the same economy. Conversion ratios were set for each token, with FET serving as the shared currency.
The merger did not combine the entities into one; the teams and products continue side by side while sharing a token and a brand. Which feature runs on which chain therefore has to be checked case by case.
Watch out for
- · Migration from the former AGIX and OCEAN tokens, and exchange support for it, proceeded differently for each project
- · 'AI-related' is a broad label; running services need to be read separately from planned ones
- · Because it spans several chains and products, the status and fee model of each feature has to be checked individually
Frequently asked questions
What happens to holdings of the former AGIX or OCEAN?
A conversion to FET at a set ratio was made available. Some exchanges handled it automatically while other holders had to use a migration portal, so check the official guidance for wherever the tokens are held.