About Fetch.AI (FET)
Fetch.ai aims to create a decentralized network for autonomous agents. In this environment, agents can interact, cooperate and gain knowledge from each through the use of artificial intelligence (AI) and machine learning (ML). The FET token is the digital currency essential for network operations within the Fetch.ai ecosystem.
Fetch.ai combines machine learning, artificial intelligence, multi-agent systems, and decentralized ledger technology to build its network and share knowledge across data silos with potential applications in the finance, insurance, and healthcare industries. Fetch.ai claims to make autonomous systems available to all markets. Currently, market autonomy requires both human and material resources. Fetch.ai purportedly automates economic transactions and helps markets function efficiently.
With FET tokens, users can build and deploy agents on the network. This process is like staking, giving the agent the right to operate in the network. Developers can use machine learning utilities to train autonomous agents and deploy collective intelligence on the network by paying FET tokens at deployment. Token holders can also participate in staking to validate network services. Users enable verification nodes by staking FET tokens, helping the network to validate transactions.
Fetch.ai has partnered with Bosch to form a Web3 foundation, the Fetch.ai Foundation. The new foundation aims to research, develop and harness Web3 technology for real-world use cases that will span across mobility, industrial, and consumer domains. The first corporate partner of the Fetch.ai Foundation is Deutsche Telekom, who acts as a validator through it's subsidiary called MMS. Fetch.ai is also collaborating with, SubQuery, ZoidPay, West Ham United, Unicred, and other notable organizations. The current price of FET is updated and live-tracked on Binance in real-time.
Merger with SingularityNET (AGIX) and Ocean Protocol (OCEAN)
On March 27, 2024, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) announced a merger to form the Artificial Superintelligence Alliance. This new entity aims to create the largest decentralized, open-source AI research and development platform, challenging Big Tech's control over AI. The merger will consolidate the utility tokens into a new and universal token, Artificial Superintelligence (ASI), with a total supply of 2.63 billion tokens. This means FET tokens will be swapped at a ratio of 1:1.
Binance supports this transition to ensure a smooth process for users. For more details, users can refer to the official announcement from Binance.