Fetch.ai's (FET) Potential Merger | What should SPI do with its FET?

Hello SPIers, today we look at Fetch.ai (FET) which is an investment I got us into around 5 weeks back. They have just released some big news and I am not sure it's good or bad.

What is Fetch (FET)?
The idea of Fetch.ai is to decentralise and automate complex transactions on the Internet. For example, instead of searching and booking a flight using a price comparison website, you’d use Fetch.ai to automate the task. You'd tell it where you want to go, when and how much you want to spend and it'll do the rest. Another example could be Fetch.ai scans exchanges and finds tokens that are trading for a lower price compared to other exchanges. It could find these, buy them, move them to the exchange with the highest price and sell them.

FET is an ERC-20 token on the ETH blockchain and its use case is as the native token for fetch.ai.

SPI's Position

We bought 1783 FET tokens @$1.13 each costing us $2014.79. Here is the chart since we invested.

Today our FET bag is worth $5705 so we've almost 3x'd our money in just over 1 month and we got in at a good time I guess.

What's the news?

3 AI tokens have floated the idea to merge and create a new token, a new AI super token called ". The 3 tokens are FET, AGIX and OCEAN. They have proposed this idea but there will be a community vote, kind of a pointless vote in my opinion. There is not alot of information released about this currently as the news only broke around 1 day ago.

From what I can see, they claim merging these 3 AI projects will create the Superintelligence Alliance token (ASI). Sounds kind of gay to me to be honest, like the Superbest Friends Club are something. They say working together will give them a better chance to compete against the likes of Mircosoft, Meta and Google which are all heavily invested in AI infrastructure.

I get that and it makes sense "together we are stronger" and all that. Problem is I never invested in Singularity Net or Ocean Protocol and I was very happy with how Fetch has been performing, better than the other 2 as well.

They say people holding FET will need to have their FET on an exchange on some date they are yet to release and on this date at a time, the FET token will automatically rebrand to ASI 1-1. If you are holding your FET on a hot or cold wallet, you will need to manually convert them yourself and pay the ETH fees as well. People who hold the other 2 tokens will need to manually convert them at whatever ratio they have said. They will both convert into a lower ratio than 1-1 but I cant remember because im really only interested in FET.

What do I think?

Im not sure, I will need to sit back and see what happens over the next few days. If they do merge, im sure it'll not happen within the next month, it'll be overshilled, dragged out and milked dry.

On the 1 side, it looks really good. 3 projects working together to compete against web2. As an investment, it could be very bullish. They announced that the new ASI token would have a marketcap of $7.2 billion. No idea where that number came from but if it is so, thats good for us. Also, there would be 3 communities joining together and community is the real driver for whether an investment is successful are not. It could look very bullish.

On the other side, these 2 other projects might pull FET down or hold it back, there could be in-house fighting over power and control. Rebranding can be off-putting to alot of OG investors and they might be happy to dump all their FET and this new ASI token as soon as they get it to take profits and move them elsewhere. People, in general, might not want this, would you want HIVE and STEEM to merge?

Personally, I'm not too fond of it. I was very happy with our position with FET. I have seen the other 2 on marketcap but never really looked at them. I like things like they are. I see the upside potential and I would understand why most will be happy about this news but im a little more pessimistic. I cant think of any time when cryptos have merged and 100%, not 3, it could be the start of a new trend.

What I do know is that in traditional markets when a massive company is ordered to split up into smaller companies for anti-monopoly reasons, stockholders normally end up much better off because they receive shares in all the new companies. It's easier for 10 companies worth $100 billion to increase in value by 20% compared to 1 company worth $1 trillion. I would have to take a guess and say the reverse might happen if 3 companies were to join together and their combined value might be less then their separate values combined. A single bottle of beer costs more than 1 bottle from a 6 pack.

What do you think?

Let me know what you think about this, is it good are bad news?