Fetch.ai is a technology company designed to facilitate and create a decentralized AI economy utilizing distributed ledger technology and AI agents.
With the rise of AI investments and companies such as OpenAI, cryptocurrency traders are on the lookout for tokens developing cutting-edge AI technology.
This page will break down Fetch.ai, the Artificial Superintelligence Alliance, and whether Fetch.ai is a good investment and addition to cryptocurrency portfolios for those looking to add AI projects to their balance sheets.
What is Fetch.ai?
Fetch.ai is a company creating AI tools to help develop a new AI economy. Fetch.ai has built a platform for AI tools so users can build and deploy various AI services and monetize them.
At Fetch, users are able to add AI services to existing systems, and add those creations to a marketplace of services on Fetch’s AI network.
Fetch.ai was founded in 2017 while its native FET token was launched after an IEO (Initial Exchange Offering) on Binance exchange in March 2019. Based in Cambridge in the UK, Fetch.ai’s mainnet went live in 2020.
The Fetch.ai platform is an open-source decentralized machine learning network that allows developers and users to access AI tools via decentralized datasets. The network was designed with IoT (Internet of Things) support where AI agents on behalf of their owners, can act autonomously to share information across the network with other agents.
For example, a user can create an AI agent on Fetch.ai and use that agent to help translate videos. Ideally, AI agents can be automated on large-scale projects such as helping health researchers find cures for diseases or managing important financial data for companies.
When asking “what is fetch.ai?” investors can also ask “what can fetch.ai do?”. The platform’s autonomous agents have been utilized in dozens of ways for companies from around the world.
Who is using Fetch.ai?
Bosch, an international technology and engineering company has integrated Fetch.ai tools to enhance their web3 and AI pursuits.
Through their collaboration with Fetch.ai, Bosch aims to develop AI agents that can innovate industry solutions and improve security.
Other companies partnered with and integrating Fetch.ai agents include OpenAI, Meta, Notion, Nvidia, and Gemini. The platform’s strong partnerships have solidified Fetch.ai as a leading web3 AI company, attracting investors from across the wider crypto market.
What is FET coin used for?
The FET token is used to pay for transaction fees, deploy AI tokens, and pay for various services. Users can also stake their FET tokens to help secure the network’s proof-of-stake decentralized network and earn rewards.
The FET token is now a part of the Artificial Superintelligence Alliance (ASI) made up of Ocean Protocol, Fetch.ai, and SingularityNET. All three companies have combined and use the FET token for connectivity.
FET’s circulating supply currently sits at 2.6 billion out of a 2.7 billion total supply.
What is the Artificial Superintelligence Alliance (ASI)?
The Artificial Superintelligence Alliance is working towards the goal of creating improved decentralized AI applications by improving scalability efficiency and security to usher in a new era for AI in web3.
One of their goals is to create a powerful decentralized superintelligence, similar to OpenAI’s Stargate Project. The decentralized superintelligence will be accessible to those outside of “big tech” and be in the hands of individual users in a decentralized way.
As part of the team, Fetch.ai will provide solutions for machine learning and autonomous AI agents, Ocean Protocol is for data services across the network while SingularityNET will prioritize an AI marketplace for services.
What has Fetch.ai released?
In recent months, Fetch.ai has released the ASI-1 Mini, a decentralized web3 large language model (LLM) for autonomous workflows and tasks.
The ASI-1 Mini works similarly to OpenAI’s ChatGPT whereby users can ask questions, submit prompts, and utilize its API for enhanced tasks. Unlike other LLM’s, Fetch.ai’s is designed for complex decision-making within a decentralized system.
The model is backed by the FET token, connected to the wider Artificial Superintelligence Alliance network. According to official documentation, the model can deliver multi-task executions, and agentic reasoning, capable of natural language understanding. Due to its decentralized format, the API can be integrated easily into personal applications.
Is Fetch.ai a good investment?
Fetch.ai will be a good investment for traders and cryptocurrency investors on the lookout for a strong, AI-based company.
As part of the Artificial Superintelligence Alliance, Fetch.ai has positioned itself and the FET token in an arena similar to that of web2 AI companies, developing innovative AI technologies.
Historically, the FET token has performed generally well during market cycles with a recent all-time high of $3.45 on May 28, 2024.
With AI becoming a mainstream talking point outside of investment markets, OpenAI, X/Twitter, and big tech are investing billions into developing AI solutions. President Trump recently committed $500 billion to OpenAI’s Stargate Project to help develop new AI infrastructures.
Fetch.ai represents AI in crypto and how web3 can innovate and push the narrative forward with decentralized AI tools, agents, and machine learning. For such use cases, FET may be a good investment for traders.
