In this Cryptobusy video, the AI-based cryptocurrency fetch.ai is discussed. Fetch.ai aims to address issues both within and outside the crypto space using AI technology to democratize access to AI technology and connect users to secure data sets. Fetch.ai has use cases in optimizing D5 trading services, transportation networks, smart energy grids, and more. The Fet token is a utility token used for discounts on fees and incentives to hold and become a validator. The video also highlights fetch.ai’s roadmap and the growing interest and investment in AI technology.
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Introduction
Hey everyone, welcome back to another video from Cryptobusy. My name is Tom and in today’s video, we’re going to go through an AI based cryptocurrency that’s based out of Cambridge.
The Project and Tokenomics
Fetch.ai is currently trading at around 26 of a dollar and it’s been around the market since 2019. The project is founded in 2017 and based out of Cambridge, and it utilizes AI technology to solve issues within the crypto space and outside of it. It democratizes access to AI technology with a permissionless network upon which anyone can connect and access secure data sets. The ultimate goal of Fetch.ai is to take all available data and use it to solve complex problems in sectors such as medical, Internet of Things, and others.
Use Cases
The Fetch.ai model is rooted in use cases like optimizing D5 trading services, transportation networks, smart energy grids, travel, and other complex digital systems that rely on large-scale data sets. Ultimately, the project is a B2B solution rather than a business-to-consumer model.
The FET Token
Fetch.ai has two tokens – the FET token and the EFFECT token. The FET token is used for staking and is required for two agents to perform an exchange of value in the ecosystem. It’s a utility token with many use cases, such as getting discounts on fees and becoming a validator on its network. The token is also available for holding on the project’s wallet.
Roadmap and Conclusion
Fetch.ai was featured as one of the top five artificial intelligence cryptocurrencies for 2023. The project has a solid roadmap, and the interest in AI technology is growing, which could lead to growth potential for the project. Overall, Fetch.ai is a promising project that’s worth watching in the future.
