OVERVIEW

Three AI Giants Become One Titan On June 13 🦿 

The crypto market is mean and green today, close to breaking out above the $2.5 trillion market cap, and altcoins are swaggering their way up to $1.17 trillion. 💪 

In today's Litepaper, we're looking at three of the biggest, major AI crypto tokens merging in just one week.

Also on deck: Illuvium's open beta has landed on the Epic Games Store, and the Sandbox is flaunting a new monthly NFT airdrop program.

Last but not least, the SEC is shutting down one of its regional offices - the same one responsible for the Debt Box foul-up. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

NEWS
One Week Until AI Titans Unite 🦾

Centralized AI has a new and powerful counter-punch coming in the form of Decentralized AI development. Fetch.ai ($FET), SingularityNET ($AGIX), and Ocean Protocol ($OCEAN) are merging their tokens to form the Artificial Superintelligence Alliance (ASI). 🤖 

The Big Merge: Key Info

Fetch.ai's FET token gets a makeover first, rebranding as ASI on June 11. Two days later, SingularityNET's AGIX and Ocean Protocol's OCEAN tokens join the fray. The conversion rates are locked in, so get ready to swap:

• FET to ASI: 1:1 ratio

• AGIX to ASI: 0.433226:1 ratio

• OCEAN to ASI: 0.433226:1 ratio

Token holders can start swapping their old tokens for shiny new ASI tokens via a secure migration contract starting June 11 for FET and June 13 for AGIX and OCEAN. 👍️

Why Merge? Why Now?

The tech giants like Microsoft ($MSFT), Alphabet ($GOOG), and Meta ($META) are trying to monopolize the sector. Fetch.ai, SingularityNET, and Ocean Protocol are not having it. This merger is all about decentralizing AI and building infrastructure where data is transparent and shared openly. No more walled gardens.

What's Next for Token Holders?

Bruce Pon, Ocean Protocol Founder, and ASI Council Board Director called the ASI Alliance a "gamechanger for web3 adoption for AI and data."

Humayun Sheikh, CEO & Founder of Fetch.ai and ASI Chairman, added, "With our newfound economies of scale, the Alliance can make real inroads to change the way Big Tech controls the narrative and direction of AI." 🚨