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ASI Alliance (FET): Three AI Projects That Merged Their Tokens
Three AI projects united in 2024, and a split in 2025
The Artificial Superintelligence (ASI) Alliance was formed in 2024 by Fetch.ai, SingularityNET and Ocean Protocol to build decentralised AI together. Their tokens were merged into one, which still trades under the FET ticker.
1. How it came together
FET began as the token of Fetch.ai, founded in Cambridge, UK, in 2017, and was first sold through Binance Launchpad in 2019. Fetch.ai is led by Humayun Sheikh, known as an early investor in DeepMind, and focuses on technology for building and connecting AI agents that act on their own.
In March 2024 Fetch.ai announced the alliance with Ben Goertzel’s SingularityNET, known for artificial general intelligence (AGI) research, and Ocean Protocol, which built data-exchange technology. On 1 July 2024 the AGIX and OCEAN tokens began converting into FET at fixed rates, and the cloud-computing project CUDOS joined in October. On the Crypto Nation map, FET stands in Ethereum City (the capital), because it was first issued on Ethereum.
2. What FET is used for
FET started as an ERC-20 token on Ethereum and is also the own coin of Fetch.ai’s blockchain, built with Cosmos technology. There it pays transaction fees and is staked with validators to secure the network, and a bridge links the two versions, so users need to check which network a given FET is on.
FET also pays for and rewards use of the alliance’s AI services, such as Agentverse, where developers register AI agents and find each other’s, and ASI:One, a chat app in which several agents work together to find answers. SingularityNET continues its AI service marketplace and AGI research.
3. After the merger
The plan included renaming the ticker to ASI, but it has stayed FET. Many exchanges converted AGIX and OCEAN to FET automatically, holders could also convert with an official tool, and the members said they would pursue joint research and shared computing resources such as GPUs.
In October 2025, however, the Ocean Protocol Foundation announced it was leaving the alliance. Fetch.ai then objected to how Ocean had converted and sold tokens, Ocean disputed the claims, and the two sides traded accusations in public, showing how hard it is to bind three projects to one token.
4. Things to know
Having separate companies and foundations share one token has proven hard to coordinate. Changes in membership, such as Ocean’s exit, can add uncertainty about supply and direction, and major decisions rest more on agreements among member organisations than on token-holder votes.
Decentralised AI is an ambitious goal, but the AI market is led by big technology firms with vast resources, so competition is fierce. FET’s price has swung with AI hype, and the foundations hold large amounts of tokens.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.