Artificial Superintelligence Alliance (FET)
Fetch.ai (FET) is a open and permissionless network that utilizes artificial intelligence (AI) to establish a decentralized machine-learning system capable of executing tasks on the blockchain. This project was launched in March 2019 by Toby Simpson, Humayun Sheikh, and Thomas Hain.
Overview
Fetch.ai was founded in 2017 and officially launched via an Initial Exchange Offering (IEO) on Binance Launchpad in March 2019. The founding team consists of Toby Simpson, Humayun Sheikh, and Thomas Hain, who hold key roles within the organization. The Fetch.ai mainnet was activated in January 2020. On this network, users can leverage autonomous economic agents to perform tasks such as searches, negotiations, and economic transactions, creating a near-frictionless marketplace. The ecosystem is powered by FET, the network’s native cryptocurrency, which is an ERC-20 token.
In February 2019, the Fetch.ai token sale on Binance’s Launchpad successfully raised $6 million by selling over 69 million tokens. In August 2021, Fetch.ai introduced an NFT marketplace for AI-generated art called Colearn Paint, allowing users to create digital collectibles through machine learning technology.
| Ticker | FET |
| Category | Artificial Intelligence (AI) |
| Website | https://www.superintelligence.io/ |
| @fetch_ai | |
| Telegram | fetch_ai |
| https://www.reddit.com/r/FetchAI_Community/ | |
| Contract Addresses | |
|---|---|
| ethereum | 0xae...85 Copied! |
| binance-smart-chain | 0x03...7fCopied! |
| osmosis | ib...47Copied! |
Funding
Fetch.ai has attracted significant investment to support its development. In March 2021, GDA Group invested $5 million in the Fetch ecosystem to enhance research and development of its applications. In March 2023, Fetch.ai raised $40 million from DWF Labs to further deploy decentralized machine learning and autonomous agents on its platform.
Fetch Name Service
In July 2023, Fetch.ai updated its wallet to version 0.14, integrating the Fetch Name Service (FNS). Developed by AzoyaLabs, this service allows users to map human-readable domains to wallet addresses, enhancing user interaction with the Fetch.ai blockchain.
Technology
Fetch.ai combines a three-pillar framework comprising Autonomous Economic Agents, an Open Economic Framework, and Smart Ledgers.
Autonomous economic agents (AEAs)
AEAs are intelligent, independent programs that operate on behalf of their owners to generate economic value. These agents are strategically positioned to interact with others, facilitating communication and transactions representing real-world objects, people, or assets.
Open economic framework (OEF)
The Open Economic Framework includes protocols and languages that enable communication and information exchange between agents, creating a decentralized environment for interaction.
Smart Ledger
The Fetch Smart Ledger, which is the Fetch.ai mainnet, is a smart contract-enabled ledger incorporating elements of Distributed Ledger Technologies (DLTs). It supports millions of economic agents and logs transactions on the blockchain.
FET Token
FET is Fetch.ai’s native ERC-20 token, serving as the primary medium of exchange on the platform. It is used for paying for services, deploying AI agents, and covering transaction fees. Users can stake FET to participate in ecosystem security through a proof of stake (PoS) mechanism, earning rewards. Additionally, FET is necessary for agents to perform tasks and register on the network.
Partnerships
Fetch.ai x Bitget
In April 2023, Bitget pledged $10 million to support Fetch.ai’s ecosystem development, offering marketing consultations and expanding business partnerships.
Fetch.ai x IOTA
In June 2021, Fetch.ai partnered with IOTA to create a controlled data-sharing environment for connected devices, enhancing Internet of Things (IoT) capabilities.
Fetch.ai x Bosch
In February 2021, Fetch.ai collaborated with Bosch Group to launch a blockchain network to advance Web3 capabilities, benefiting industries such as automotive and healthcare.
Fetch.ai x LiquidChefs
In December 2021, Fetch.ai partnered with LiquidChefs to use Autonomous Economic Agents for building local and transparent supply chains, connecting with sustainable suppliers in the area.