What is Fetch.ai (FET)?
There has been a lot of hype surrounding Fetch.ai, and for good reason. In 2018, the company published a brief but somewhat boastful introductory post on Medium, stating that they were "the world's first smart ledger". This was enough to capture the attention of many crypto enthusiasts, who were further intrigued by the strong marketing campaign used to promote the project since its inception.
Fetch.ai is a platform built on innovation, and it's a decentralised machine learning protocol. It was founded in 2017 by Toby Simpson, a game developer; producer Humayun Sheikh, one of the leading investors in the artificial intelligence firm Deepmind; and Thomas Hain, an advanced machine learning professor.
FET token was first launched on one of the major crypto exchanges, Binance, in 2019. It leverages the speed and scalability of the Binance Smart Chain (BSC) to "find, create, deploy and train autonomous economic agents and is essential for smart contracts, oracles and the transactions needed to deliver the new digital economy".
Fetch.ai's blockchain is built on Cosmos-SDK, a network that facilitates multichain interoperability through the inter-blockchain communication (IBC) protocol. This means that autonomous economic agents can be launched on networks such as Cosmos (ATOM), Ethereum (ETH) and Binance Smart Chain. The Fetch.ai protocol enables a range of functionalities, including identity for agent deployment, staking, and token governance.
The company has a talented and diverse team of engineers developing a platform that bridges the gap between artificial intelligence and blockchain-agent systems. The protocol is built on a distributed ledger and decentralised Random Beacon protocol that implements the benefits of slot Proof-of-Stake (sPoS), decentralised computational costs and multi-sig to lessen storage requirements, all combined with the benefits of machine learning. The infrastructure is designed to enable the advancement of the digital economy through cryptography and machine learning.
Fetch.ai (FET) has many applications and features aiming to achieve automation by connecting businesses with the blockchain. They have also launched an AI NFT marketplace that allows content creators to create and own AI-enabled digital assets.
Fetch.ai predictions 2024
Fetch.ai (FET) price predictions for 2024 reflect a generally positive outlook, with expectations of steady price increases throughout the year. Analysts predict a gradual recovery, with prices reaching around $2.56 by December.Fetch.ai's involvement in major projects and potential rebranding. Looking ahead to 2025 and beyond, long-term projections estimate prices could reach $5.90 to $8.48 in 2025 and between $32.37 and $43.71 by 2030.
Is the Fetch.ai token a good investment?
Yes, Fetch.ai (FET) is considered a good investment due to its potential for growth in the coming years, driven by its useful applications and advanced technology. In addition, the predicted price levels indicate that it could be a profitable long-term investment. However, like any other cryptocurrency, the value of FET may fluctuate depending on market conditions. That's why it's important to conduct thorough research and consider personal financial goals and risk tolerance before making any investment decisions.
