Fetch.ai (FET)

The Fetch project was created by :

• Humayun Sheikh. Currently CEO of Fetch, he has extensive experience in AI.
  He was an early investor in DeepMind, which was subsequently acquired by Google.
• Toby Simpson, CTO of Fetch.
  Previously, he was software manager at DeepMind.
• Thomas Hain, Scientific Director of Fetch.
  He is a Professor at the University of Sheffield and holds a PhD from Cambridge.

The Fetch project was launched via an IEO (Initial Exchange Offering) in 2019.
The principle is similar to that of the ICO (Initial Coin Offering) practiced by many crypto projects.
The only difference is that an IEO is run by a crypto exchange, in this case Binance.
The project was originally developed on the Ethereum blockchain.
The Fetch token therefore existed in the ERC-20 standard.
Then, the team launched its own mainnet, built in the Cosmos ecosystem.
As a reminder, Cosmos is a layer 0 that enables the creation of layer 1 blockchains that are compatible with each other.
With the release of layer 1, the FET token is now available in its native version.
At present, both the native version and the ERC-20 are on the market.
When purchasing FET on an exchange, users can choose the network they wish to use, and therefore the corresponding type of FET token.
The choice of network also has an impact on transaction fees.

See live FET price

Fetch.ai is a blockchain-based platform that combines artificial intelligence (AI) and autonomous agent technology to automate and optimize complex processes.
It enables autonomous software agents to represent and act on behalf of their users (humans, devices or services) in a decentralized environment.
These agents interact with each other to perform tasks such as optimizing energy management, intelligent transport and logistics.
The Fetch.ai network uses its own native token, FET, to facilitate transactions and interactions between autonomous agents on the platform.

FET is the native token of the Fetch platform, an ERC-20 token.
It is used to pay transaction fees and smart contract execution fees.
It can also be used for staking to earn passive income and participate in the operation of the network.
Finally, FET token holders can participate in the governance of the protocol.
This means they can submit proposals for improvements, which may concern a network user opinion, a parameter change or a software update.
They can also take part in the voting process.
For a proposal to be put to the vote, it must be accompanied by a deposit greater than the parameter known as “minDeposit”.
The deposit need not be provided in full by the applicant.
If the proposer’s initial deposit is not sufficient, the proposal enters the deposit period status.
Then, any FET holder can increase the deposit by sending a “depositTx” transaction to the network.
Once the deposit set by the “minDeposit” parameter has been reached, the proposal enters the voting period.
This lasts 2 weeks.
Any FET bondholder can vote on the proposal, by choosing one of the following options: yes, no, no with veto, abstention.
At the end of the voting period, the proposal is accepted if there are more than 50% yes votes (excluding abstention votes) and less than 33.33% no votes with veto (excluding abstention votes).

The total number of tokens is limited to 2,630,547,141 FET (including tokens that have been withdrawn from circulation).
There are currently 848,193,896 FET tokens in circulation.
FET tokens are allocated as follows:

• 20% for project founders ;
• 17.4% for future distributions ;
• 15% for mining rewards ;
• 17.6% for pre-sales (seed, private and public) ;
• 20% for the foundation ;
• 10% for project consultants.

According to the team’s projections, all FET tokens should be distributed by 2025.

Fetch’s most important project at the moment involves a merger with two other AI cryptos , namely SingularityNET (capitalization of 1.15 billion euros), and Ocean Protocol (capitalization of 508 million euros).
The aim is to merge these three tokens to create an AI “super” token: Artificial Superintelligence Alliance (ASI).
By pooling the strengths of the three AI cryptos, the aim is to bring to market a token with a capitalization of $7.5 billion, placing it in the world’s top 20.
Uniswap is currently in 20th place, with a capitalization of $6.6 billion.
As explained in the Fetch press release, this alliance represents an important step in response to the rapid growth of AI projects.
What’s more, it helps combat the “dominance of Big Tech in the development, use and monetization of AI”.
“We are delighted to announce the successful conclusion of the token merger voting process. This marks the beginning of a new chapter in the development of AI, where our collective efforts will enable progress towards a decentralized AGI and ASI. Our mission is to create a large-scale decentralized AI infrastructure, guaranteeing ethical and trustworthy practices. By combining our platforms, we empower developers and users, fostering a more democratic and transparent AI ecosystem.”
Humayun Sheikh, CEO of Fetch.ai According to reported data, the merger would proceed as follows:

• FET will become ASI tokens with a total offering of 2.63055 billion tokens;
• AGIX tokens will be converted into ASI at a ratio of 0.433350 to 1;
• OCEAN tokens will be converted into ASI at a ratio of 0.433226 to 1.

1. Go to your Coinhouse application and log in to your personal space or create an account.
2. Go to the buy/sell section.
3. Select the amount you wish to invest, and the currency of your choice (in this case FET).
   You can exchange FET tokens for USDC tokens (buy USDC online).
4. Once your transaction has been validated, you ‘ll find your FETs in your portfolio.

Fetch is one of the high-potential cryptos thanks to its proximity to Artificial Intelligence.
As an AI crypto, FET is positioned in a strategic sector that is booming.
While there are other AI tokens out there, Fetch has some serious arguments in its favor.
First of all, the project is backed by a solid team with extensive technical experience, particularly in the field of AI.
What’s more, Fetch’s architecture makes use of innovative technologies that are capable of meeting the many needs of AI.
Fetch also has the advantage of placing AI at the heart of its project, and demonstrating a whole range ofpractical applications in various fields such as energy, transport, mobility and so on.
As a sign of its attractiveness, Fetch has attracted a number of high-profile partnerships.
First and foremost, German manufacturer Bosch has joined forces with the project to create the Fetch Foundation.
Unsurprisingly, Fetch is the first AI token with a capitalization of over 1.8 billion euros.
Above all, the project has no intention of resting on its laurels and continues to develop.
The project’s next milestone is to merge the FET token with two other AI tokens, SingularityNET (AGIX) and Ocean Protocol (OCEAN).
This combination will create a giant Artificial Intelligence token, the ASI or Artificial Superintelligence Alliance.
The FET token, even under its future name ASI, has a bright future ahead of it.