Fetch.ai is designed for the AI economy and offers tools to build, deploy, and monetize AI services. It uses AI technology to automate tasks such as booking a parking space, a flight, or an electric vehicle charging station. It allows anyone to build and deploy AI services at scale.

Founded in 2017, and Fetch.AI launched in 2019 following an initial exchange offering via Binance Launchpad. It is a Cambridge-based artificial intelligence lab for building AI for blockchains. Fetch AI  was co-founded by Humayun Sheikh, Toby Simpson, and Thomas Hain who serve as CEO.

It can act on your behalf, for example, to learn, predict, and transact autonomously which can be useful in various contexts, such as chatbot development, industrial process automation, IOT network connectivity, DeFi, and much more. 

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Fetch AI Review

Fetch.ai is a Binance-based project that aims to combine the speed and low cost of crypto with the need for data. It uses the blockchain and AI to collect and distribute data. It offers many services in a variety of sectors, from checking the status of flights to optimizing supply chains. Its goal is to enable developers to deploy and monetize applications within an autonomous machine-to-machine ecosystem.

It utilizes large language models to discover and route task execution to relevant AI agents. These agents can perform various tasks autonomously. FET is an ERC-20 token based on the Ethereum blockchain used for transactions within the Fetch.AI ecosystem. For example, the token can be used to purchase AI agents, or data can be sold for FET tokens. 

Its token initially launched for less than $0.01 but hit an all-time high of $1.19 in September 2021 with a market cap of around $700 million. It has since fallen a bit since then and currently sits around $0.25, with a market cap of around $225 million. 

Difference between Fetch.ai and other AI platforms

Fetch.ai stands out from other AI platforms by combining blockchain technology with AI to create a decentralized platform that enables autonomous transactions across various sectors. Compared to established cryptocurrencies like Bitcoin, Fetch.AI has a smaller user base and less market potential.

It uses smart agents, which are computer programs that can analyze context, reason, and take action to achieve specific goals efficiently and cost-effectively. This project has a small market cap and relies on its token, which raises questions about its uniqueness.

Its smart agents can learn from experience, make decisions based on learning, and adapt their behavior to changing situations. Its network connects devices, services, organizations, and individuals through Autonomous Economic Agents (AEAs).

Fetch AI Video Tutorial

Features of Fetch AI

1. Smart Agents: Fetch.ai utilizes smart agents, which are computer programs capable of analyzing context, reasoning, and taking action to achieve specific goals efficiently and cost-effectively. Its smart agents can learn from experience and enhance efficiency over time.
2. Platform Layers: Fetch.ai comprises four integral layers: AI Agents, the Agentverse, the AI Engine, and the Fetch Network. These layers work together to create a network that connects devices, services, organizations, and individuals through Autonomous Economic Agents (AEAs).
3. Use Cases: Fetch.ai offers a wide range of use cases across various industries such as smart cities, supply chain management, transport optimization, smart parking solutions, energy sector improvements, thermometer agents for health monitoring, smart home automation, and collective learning applications. It provides APIs and tools that make it easy for developers to integrate smart agents into existing systems or develop new ideas.
4. Native Token (FET): Its native cryptocurrency is FET, which serves as a utility and governance token within the ecosystem. FET is used for transactions, smart agent usage fees, network governance participation, and as an incentive for node operators on the network. Token holders can participate in network governance by voting on major decisions affecting the platform’s future direction.
5. Founders and Team: Fetch.ai was founded in 2017 by a team based in Cambridge, UK including Toby Simpson (COO), Humayun Sheikh (CEO), and Thomas Hain (Chief Science Officer). The project aims to create an autonomous environment that connects people, organizations, devices, and services through a network supported by AI and machine learning.
6. Unique Value Proposition: Fetch.ai stands out for its innovative combination of technologies like DAG, DLT, smart contracts, AI, and machine learning to support diverse AI-enabled use cases within the digital economy. It offers tools for creating decentralized economies that evolve with the network’s growth and development.

Is Fetch.ai a crypto?

Yes, Fetch.ai is a cryptocurrency. It is an open-access decentralized machine learning blockchain-based network that uses its native cryptocurrency, FET, as a utility token and the primary medium of exchange on the platform. Its blockchain is built on the Cosmos-SDK and uses a high-performance WASM-based smart contract language called Cosmwasm to enable advanced cryptography and machine learning capabilities.

How much is Fetch.ai in dollars?

The current price of Fetch.ai (FET) is around USD 0.68.

Reviewed By

Engr Usama

Content Producer

Usama is a Content Producer focused on tech reviews and interviews.

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Mudassir

CEO of AIToolsToKnow

I am Muddasir, a Content Creator and Website Designer with a strong background in IT.

How We Test

1. We verified that the Fetch.ai tool and its team are legit.

2. We tried Fetch.ai and shared the experience above.

3. We tested the tool by trying Fetch.ai. It is a blockchain project that uses AI to automate tasks on the internet.

4. We reviewed each tool based on its Simplicity, Authenticity, Affordability, and Competency

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