Fetch.ai (CRYPTO: FET), one of the best-performing cryptocurrencies so far this year, added to its gains on Thursday. As of late-afternoon trading, the token was up by 11% in price, thanks largely to news of an "alliance" its developer is entering.

Fetch.ai is an attempt to monetize artificial intelligence (AI) functionalities. It's not the only one and, sensibly, its developer is combining forces with two other peers.

On Thursday, it was announced that Fetch.ai, Ocean Protocol, and SingularityNET are creating an AI collective. The Ocean and SingularityNET tokens will be merged into that of Fetch.ai; the supercharged new token will be known as ASI -- which stands for "artificial superintelligence."

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Source Fool.com