FET (Fetch.ai) Token Price & Latest Live Chart

What is FET (Fetch.ai)?

Fetch.ai is a pioneering project that aims to build a decentralized network of autonomous agents capable of communicating, collaborating, and learning from each other through artificial intelligence (AI) and machine learning (ML). Founded in 2017 by experts in AI, blockchain, and software engineering, Fetch.ai seeks to democratize access to AI and ML technologies, enabling individuals to harness their benefits without requiring extensive technical knowledge or relying on centralized intermediaries.

The vision behind Fetch.ai is to allow users to create, deploy, and train digital agents that can perform a wide array of tasks and services across various domains and industries. By leveraging blockchain technology, these agents can interact with one another and with diverse data sources within the network, forming a collective intelligence that optimizes outcomes and generates value. This decentralized approach not only enhances efficiency and decision-making but also fosters a robust, self-sustaining ecosystem where agents continuously improve through collaboration and shared learning.

Fetch.ai targets numerous practical applications for its AI-driven technology. In the DeFi sector, its agents can identify the best trading opportunities, execute trades, provide liquidity, and manage risks across multiple platforms. In transportation, they can optimize routes, modes of travel, parking, and destinations using real-time data and user preferences. In the energy sector, Fetch.ai aims to reduce consumption and costs by enabling users to switch to greener or cheaper energy sources and engage in peer-to-peer energy trading. Additionally, Fetch.ai facilitates smarter travel planning by finding the best deals on flights, accommodations, car rentals, and activities tailored to individual preferences and budgets.

How does FET (Fetch.ai) work?

Fetch.ai operates by leveraging blockchain technology to deploy autonomous agents that utilize AI and ML to provide value across various use cases. At the core of Fetch.ai's ecosystem are Autonomous Economic Agents (AEAs), which are software programs capable of acting independently on behalf of their owners. These agents can communicate, negotiate, and collaborate with other agents using Agent Communication Language (ACL). The development and deployment of AEAs are facilitated by the AEA Framework, a Python-based toolkit, and the AEA Manager, a web-based interface that allows users to manage their agents and access various services.

Autonomous Economic Agent Framework, Source: FET whitepaper

Central to the Fetch.ai ecosystem is the Open Economic Framework (OEF), which serves as the infrastructure connecting the agents on the network. The OEF provides a decentralized marketplace where agents can discover each other, exchange data, and access services. Moreover, it features a search engine that enables agents to find relevant information and opportunities on the network. The OEF operates on the Fetch.ai Ledger, a blockchain network that facilitates value transfer and acts as a coordination mechanism for the agents. This setup allows for a seamless and efficient interaction between the various autonomous agents on the network.

Fetch.ai also incorporates a decentralized machine learning protocol called CoLearn, which allows agents to share their data and models securely and privately. CoLearn is implemented using CosmWasm, a high-performance smart contract language that runs on the Fetch.ai Ledger. This protocol supports a marketplace where users can buy and sell data and models for their agents, enhancing the network's overall functionality. Furthermore, Fetch.ai ensures interoperability by connecting with other blockchains and networks through a cross-chain protocol based on the Cosmos SDK. This allows agents to access data and services from platforms like Ethereum and BNB Chain, and enables users to swap FET tokens with other cryptocurrencies using bridges such as Axelar. In essence, Fetch.ai empowers users to create and use smart contracts for various applications, making processes like travel planning and parking more efficient.

FET (Fetch.ai) market price & tokenomics

FET serves as the native governance and utility token for the Fetch.ai protocol, playing a pivotal role in its ecosystem. It enables holders to participate in governance by voting on proposals that influence the platform's development and strategic direction. FET tokens can be staked to secure the network, granting stakers rewards and access to enhanced features like collective learning. Beyond governance and staking, FET is crucial for paying fees associated with platform services, such as creating agents, accessing data, and executing smart contracts. The token also incentivizes user and developer engagement, rewarding them for contributing data, liquidity, or innovative applications and services to the platform.

The tokenomics of FET reflect a strategic distribution aimed at fostering long-term growth and stability. The distribution is as follows: 20% is allocated to the foundation, 20% to the founders, 17.6% to various token sales (including seed, private, and public sales), 17.4% reserved for future releases, 15% for mining, and 10% for advisors. This diverse allocation ensures that key stakeholders are incentivized to contribute to the platform's success. The full unlocking of FET tokens is scheduled to be completed by 2025, aligning with the platform’s roadmap for achieving its developmental milestones and expanding its ecosystem. 

The Artificial Superintelligence Alliance (ASI) token merger is set to begin on July 1, 2024, with the goal of unifying the tokens of SingularityNET (AGIX), Ocean Protocol (OCEAN), and Fetch.ai (FET) under the ASI banner. Phase 1 involves the rebranding of the project, the merging of AGIX and OCEAN into FET, and the continuation of FET trading without interruption. Phase 2 will focus on community onboarding, the deployment of the ASI token across chains, network upgrades, and the introduction of new migration contracts. The process emphasizes the importance of following official sources for information to avoid scams and ensures that token holders, especially those with self-custodied funds, are informed about the necessary steps for conversion through the SingularityDAO conversion portal. The merger aims to enhance the ecosystem's resilience and competitiveness in the field of decentralized AI. As of now, FET (Fetch.ai) is ranked #29 by CoinMarketCap with market capitalization of 

$2,984,811,660 USD. The current circulating supply of FET coins is 2,520,000,000.

Why do you invest in FET (Fetch.ai)?

Investing in the Fetch.ai project may be driven by the potential benefits of its innovative approach to automating tasks using artificial intelligence within the blockchain space. FET serves as the native cryptocurrency of the Fetch.ai platform, which aims to simplify complex processes such as booking services or executing financial transactions through the use of digital twins, or autonomous agents. These agents operate based on user preferences, negotiating and interacting with other digital twins to perform tasks efficiently, which could revolutionize how everyday transactions are handled online. The platform's utility extends into the realm of DeFi, where Fetch.ai can capitalize on market inefficiencies, such as arbitrage opportunities across different crypto exchanges, offering users a chance to benefit from automated financial services.

Moreover, investors may be attracted to FET due to its role in the governance and security of the Fetch.ai network. By staking FET tokens, users not only gain voting rights within the platform's decision-making processes but also earn an annual interest of 10%, incentivizing participation and helping to maintain network integrity by deterring spam and malicious activities. With a fixed supply of tokens and availability on major cryptocurrency exchanges, FET presents an opportunity for investors to diversify their portfolio with a high-risk, high-reward asset that is at the forefront of integrating AI and blockchain technology.

Is FET (Fetch.ai) a good Investment?

FET token presents an intriguing investment opportunity for those interested in the combination of blockchain and artificial intelligence. The project's ambitious goal to create a decentralized network of autonomous agents capable of performing complex tasks across various industries could disrupt traditional business models. The strong backing from reputable investors and partnerships with industry leaders like Bosch indicates a level of confidence in Fetch.ai's technology and potential market impact. The FET token's utility, including governance, staking, and transaction fees, aligns the interests of token holders with the platform's growth and success. FET's commitment to interoperability and the development of practical applications in sectors such as DeFi, transportation, and energy suggests a forward-thinking approach and adaptability to evolving market needs.

However, potential investors should also consider the risks inherent in cryptocurrency investments, including market volatility, regulatory changes, and the technical and competitive challenges that Fetch.ai may face. The success of FET as an investment will likely depend on the widespread adoption of its technology, the execution of its roadmap, and the overall growth of the ecosystem. As with any investment, thorough research, risk assessment, and consideration of personal financial goals are essential before making a decision.

Find out more about FET (Fetch.ai):

• Homepage

• Explorer: Etherscan, Bscscan

• Whitepaper