Buy Fetch.ai (FET) in UK With GBP | CoinJar

Fetch.ai (FET) holders: If you own Fetch.ai's cryptocurrency token (FET), it will be renamed ASI mid to late July. You'll need to swap your FET tokens for the new ASI tokens.

What is happening with Fetch.ai (FET)?

Fetch.ai, Ocean Protocol, and SingularityNET, three prominent AI companies, have merged to form the Artificial Superintelligence Alliance (ASI). This move aims to create a decentralised artificial intelligence (AI) ecosystem and challenge the dominance of big tech.

The companies involved believe the merger will accelerate AI development and create a decentralised system where AI isn't controlled by a few large entities.

Should you be excited?

If you're already invested in these companies, the merger might seem promising. However, remember that the crypto world is volatile, and mergers don't always guarantee success. Do your research and understand the risks before making any decisions.

Key points to remember

Swap timing: The FET to ASI swap will start probably in the second half of July. CoinJar's decision: CoinJar has not yet decided whether we will automatically swap FET for ASI on behalf of users.

Taxes: This swap might be a taxable event. Consult a tax advisor. Stay informed: Keep an eye on Fetch.ai’s blog here.

Expert view

Dominic Gluchowski, a CoinJar executive, says, "If your crypto tokens are undergoing changes on the blockchain, like getting a new name or being swapped for different ones, it's smarter to keep them in your own digital wallet (like MetaMask) rather than leaving them on an exchange. This way, you won't risk missing out on any new tokens that might come your way.

“To be extra safe, always start by transferring a small number of tokens as a test run. Once you're sure it worked, you can transfer the rest with more confidence."

The ASI Alliance has plans for a more open and accessible AI future. Whether they can deliver remains to be seen. As always, be cautious and informed about your investments.

Projected events

According to the Fetch.ai blog, the Artificial Superintelligence Alliance will merge Fetch.ai, SingularityNET, and Ocean Protocol.

Phase I

-Project rebranding to Artificial Superintelligence Alliance

-AGIX and OCEAN tokens merged into FET

-Trading continues under the FET ticker

Phase II:

-ASI token deployed across multiple blockchains

-FET network upgraded to ASI network

-FET token holders can swap FET for ASI on the official websites of both Fetch.ai and the ASI website.

This strategy aims for a smooth transition, with a focus on transparency and efficiency.

Update: Fetch.ai (FET) and the ASI Token are Now DIfferent Tokens

FET is now separate from the ASI token. The Fetch.ai (FET) token is no longer the same as the new ASI token. They are now distinct cryptocurrencies. For a limited time, you can swap your FET tokens for ASI tokens using a special "token bridge."

You'll need a MetaMask wallet (for your FET tokens). And, an ASI-compatible wallet (to receive your ASI tokens).

CoinJar is not affiliated with Metamask, the below token bridge or with the Artificial Superintelligence Alliance so please contact their support teams if you need assistance.

How to swap FET to ASI

Visit the official token bridge website. Follow the instructions on the website to connect your wallets and complete the swap.