Three blockchain-based data and AI projects, Fetch.ai, SingularityNET, and Ocean Protocol, have entered into a definitive agreement to merge tokens.

The proposed merger, dubbed the “Artificial Superintelligence Alliance,” would see the projects’ respective tokens become Artificial Superintelligence (ASI).v

The projects’ existing tokens have surged amid the news, with Fetch.ai (FET) gaining 15% and SingularityNET (AGIX) gaining 12% over the past 24 hours. Ocean Protocol’s token, OCEAN, has seen the biggest rise, up more than 36% over the past 24 hours, according to The Block’s price page.

The deal aims to create the largest open-sourced, independent player in AI research and development, according to a statement shared with The …