Artificial Superintelligence Alliance (FET)

Artificial Superintelligence Alliance (FET) is a cryptocurrency created by merging the tokens of three artificial-intelligence crypto projects: Fetch.ai, SingularityNET and Ocean Protocol. The merger took effect in July 2024, when the SingularityNET (AGIX) and Ocean (OCEAN) tokens were converted into FET, the existing Fetch.ai token. FET pays for AI-agent services, is staked on the Fetch.ai network and is used in governance.

The alliance planned to rename FET to ASI, but as of 2026 the token still trades under the FET ticker on major exchanges. The computing network CUDOS joined in late 2024, and Ocean Protocol left in October 2025 amid a public dispute. FET is one of several AI-themed tokens, alongside Bittensor (TAO), Render (RENDER) and Worldcoin (WLD).

Imagine three small shops on the same street, one selling software helpers, one selling a marketplace for AI tools and one selling access to data. Each issued its own gift card. To attract more customers, the owners agreed to accept a single card in all three shops and swapped everyone's old cards for the new one at a fixed rate.

FET is that shared card. It is meant to pay for small automated programs, called agents, that can search, negotiate and pay for things on a person's behalf, as well as for AI models and computing power offered by the alliance's members. A partnership like this only works while the shopkeepers keep cooperating, and in 2025 one of them walked out.

Fetch.ai was founded in Cambridge, England, in 2017 by Humayun Sheikh, Toby Simpson and Thomas Hain, and sold FET through Binance's token-launch platform in 2019. SingularityNET, led by the AI researcher Ben Goertzel, launched AGIX in 2017 as a marketplace for AI services, and Ocean Protocol, co-founded by Bruce Pon and Trent McConaghy, built tools for buying and selling data. The three announced the alliance in March 2024, their communities approved it in April, and token conversion began in July 2024. CUDOS, a provider of distributed computing, joined later that year.

In October 2025 Ocean Protocol announced its exit and resigned its positions in the alliance's Singapore company. Fetch.ai's chief executive accused Ocean-linked entities of converting and selling FET intended for the community and offered to fund a class action on behalf of affected holders; the Ocean Protocol Foundation called the claims false and said its community-token trust had never signed the merger agreement. The FET price fell sharply in the days after the accusations were made public.

The alliance minted about 1.48 billion new FET for AGIX and OCEAN holders, bringing the total supply to about 2.63 billion. Each old token converted at a fixed rate:

• $F$ is the number of FET received.
• $T$ is the number of AGIX or OCEAN tokens converted.
• $k$ is the fixed rate: 0.433350 for AGIX and 0.433226 for OCEAN.

A holder converting 1,000 AGIX received $1{,}000 \times 0.433350 = 433.35$ FET. FET exists both as an ERC-20 token on the Ethereum Blockchain and as the native coin of the Fetch.ai network, and holders can move it between them through a bridge. Exchanges handled the conversion for customers who held AGIX or OCEAN in exchange accounts.

• Agent payments. Fetch.ai's tools let developers build AI agents that register on a shared directory and pay one another in FET.
• AI services. The alliance offers AI models, including its ASI-1 language model, and charges for access.
• Staking. FET is delegated to validators on the Fetch.ai network, which uses proof of stake; see staking.
• Governance. Holders vote on alliance proposals, as they did on the merger itself.

The alliance has said it is building its own blockchain, ASI:Chain, alongside developer tools and consumer AI products. Much of the token's trading takes place on centralized exchanges, where FET is often bought as a way of betting on the wider growth of artificial intelligence rather than to pay for any particular service.

The Ocean dispute exposed how loosely the alliance was bound together: the merger rested on agreements between foundations rather than a single legal owner, and the departure of a founding member raised questions about the treasury and about how much FET entered the market. The promised rename to ASI has stalled, leaving the brand and the ticker out of step. Because the merger terms were set by the founding teams and then put to separate votes in each community, holders of one token had little say over the conversion rates offered to the others. More broadly, critics argue that AI-themed tokens trade on enthusiasm for the technology far more than on measurable use, which makes them highly volatile, and that it is hard for holders to verify how much real demand comes from agents rather than speculation. See tokenomics and crypto scams for general cautions.

• Artificial Superintelligence Alliance
• Fetch.ai