Fetch.ai’s AI Token Merger to Proceed Despite Coinbase Decision

Despite Coinbase’s announcement that it will not support the token merger between Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNet (AGIX), Fetch.ai CEO Humayun Sheikh has confirmed that the merger will still take place.

No Action Required for FET Holders

Sheikh urged FET holders to “do nothing” as the merger is already in progress. He emphasized that centralized exchanges do not need to delist or relist FET.

Coinbase’s Decision

Earlier this week, Coinbase announced that it would not facilitate the token migration. Instead, customers would need to initiate the merger themselves using a self-custodial wallet.

Merger Details

The merger, first announced in March, aims to create the Artificial Superintelligence Alliance (ASI) to revolutionize how AI is developed and utilized. Phase I of the merger is scheduled for July 1st.

Importance of the Merger

The merger is expected to enhance the capabilities of the three AI projects and foster collaboration within the industry. It aims to create a comprehensive ecosystem for AI development and application.