The Block • Mar 29, 23
Fetch.ai announces fresh funding at a $250 million valuation
Fetch.ai, a blockchain platform that uses artificial intelligence to help people automate tasks, unviled $40 million in new funding from DWF Labs.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Fetch.ai has risen by 3.22% in the past 7 days. The price increased by 0.18% in the last 24 hours. In just the past hour, the price grew by 0.55%. The current price is $0.22 per FET. Fetch.ai is 81.63% below the all time high of $1.19.
The current circulating supply is 812,331,791.877 FET.
FET is an Ethereum token that powers Fetch.ai, a decentralized machine learning platform for applications such as asset trading, gig economy work, and energy grid optimization. Fetch.ai’s first decentralized finance application helps Uniswap users automate trading according to predefined conditions.
is a -based artificial intelligence (AI) and machine learning (ML) platform. Fetch.ai seeks to provide AI platforms and services that allow anybody to build and deploy AI at scale, at any time, and from any location. aims to be a decentralized digital model of the actual world in which autonomous software agents conduct productive economic activities. This implies that users can utilize the Fetch.ai platform to accomplish tasks such as distributing data or offering services and be compensated with digital currency in Fetch (FET) for their efforts. In simpler words, is a platform that aims to connect devices and enable the creation of markets to add value to the data.
According to the , Fetch.ai aims to make truly autonomous decisions. This autonomy is achieved with a decentralized network that supports an ecosystem of various “” that seek, negotiate, and trade in an economic internet. The platform defines an autonomous economic agent (AEAs) as an intelligent agent (a Python-based development suite) functioning on behalf of its owner, with minimal or no intervention, to generate economic value for its owner.
In addition, Fetch.ai aims to link agents with value and users who need that value. These agents are digital entities representing data, service, hardware, individuals, or infrastructure elements. They make the decision for themselves as well as individuals, enterprises, governments, and many other stakeholders. Accordingly, the platform states that users can digitize themselves or their businesses by claiming a “,” as Fetch.ai refers to them. The digital twin is a personal agent who tries to improve users’ lives. To automate decision-making and regular chores, the agent learns from the user and their close connections.
Further, Fetch.ai aims to solve one of the major problems existing in the data industry at present: data can’t sell itself. Using Fetch.ai, it is possible. In an environment that is continually reorganizing to make tasks as easy as possible, data is able to aggressively take advantage of every opportunity to exploit itself in any marketplace. Internet of Things (IoT) utilized by Fetch.ai enables utilization of available short-term opportunities to sell the information they possess in existing as well as novel information services markets. For instance, by simply relaying the activity of a windshield wiper and the washer activity, an agent in a vehicle is able to provide road and weather conditions.
The Fetch token, denoted as FET, is an token. This token is a primary source of value exchange on the Fetch.ai network. The FET token aims to function as an essential element for all network exchanges. FET can be utilized for staking and as a mechanism for returning value to network participants.
Fetch.ai was cofounded by Humayun Sheik, Toby Simpson, and Thomas Hain in 2018. This privately owned company is headquartered in the United Kingdom and is backed by various venture capitalists. Sheik is the CEO and one of the board members. Simpson is the COO, and Ward is the CTO. Fetch.ai published its ledger code in the late summer of and deployed a private test network with several hundred nodes in the fourth quarter that year. The platform launched the on March 31, 2021.
To achieve consensus, Fetch.ai aims to employ a hybrid of mechanisms. Further, new blocks are created using a standard PoS , with the transaction order defined by the work done between two blocks. Each new block created generates FET tokens and then divides them among the node that optimized the block and the leader who approved it. The miners and the leaders also earn fees from transactions.
rewards of 15% are distributed to those who perform practical on-ledger computing and calculations for consensus in order to optimize performance and generate trust for the network users. As the network’s collective intelligence increases, nodes seek to derive the majority of their value from delivering services to agents and vice versa. This demand and the node wealth created by fulfilling it have a direct impact on mining rewards. Furthermore, users may also and receive incentives from across the Fetch.ai ecosystem for assisting in the functioning of a broad and active collection of validators.
The Fetch.ai platform reports a maximum total supply of 1,152,997,575 FET tokens.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
Fetch.ai was mentioned in 82 out of 0 social media posts on Twitter and Reddit on Oct 03, 2023. This is a ∞% increase compared to yesterday's volume. Additionally, 85 unique individuals are talking about Fetch.ai and it is ranked #77 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Fetch.ai has an average sentiment score of 3.7 out of 5. Finally, Fetch.ai is becoming more newsworthy, with 0 news articles published about Fetch.ai. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Fetch.ai. There were 63.95% of tweets with bullish sentiment compared to 10.47% of tweets with a bearish sentiment about Fetch.ai. 25.58% of tweets were neutral about Fetch.ai. These sentiments are based on 86 tweets.
On Reddit, Fetch.ai was mentioned in 0 Reddit posts and there were 0 comments about Fetch.ai. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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3.7 out of 5
The current market cap of Fetch.ai is $177.58M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Fetch.ai is $1.19. This all-time high is highest price paid for Fetch.ai since it was launched.
Over the last 24 hours, the trading volume of Fetch.ai is $16.99M.
The current circulating supply of Fetch.ai is 812 million.
The median time that Coinbase customers hold Fetch.ai before selling it or sending it to another account or address is 58 days.
Fetch.ai ranks 9 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 99% of Coinbase users are buying Fetch.ai. In other words, 99% of Coinbase customers have increased their net position in Fetch.ai over the past 24 hours through trading.
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