Fetch.ai is a decentralized artificial intelligence (AI) network that enables autonomous machine-to-machine (M2M) communication and learning through a combination of blockchain technology, AI, and multi-agent systems. The network aims to create an open, transparent, and decentralized infrastructure for a wide range of applications such as supply chain management, Internet of Things (IoT) data sharing, and decentralized finance (DeFi).
About $FET token
$FET is the native cryptocurrency of the Fetch.ai network, used for transactions and as a means of payment for accessing the network's services and resources. It is also used as an incentive mechanism for network participants who contribute to the network's security and functionality. The token is an ERC-20 standard token and can be stored in any wallet that supports ERC-20 tokens.
How to buy $FET with a payment card
1. Enter the amount of $FET and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $FET wallet
You are given the option to enter your $FET wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $FET with a credit and debit card.
1. Market Position and Adoption: Fetch.ai (FET) is an AI and machine learning blockchain platform that offers intelligent solutions for different industries. Its technology integrates various features such as smart contracts, multi-chain support, autonomous agents, and decentralized finance (DeFi) capabilities, providing businesses with a more efficient and cost-effective way to operate.
FET has gained significant market traction with a market cap of $346,447,552 and a daily trading volume of $120,572,947, indicating a high level of adoption and usage. The token is currently ranked 108 on CoinMarketCap and has over 169,153 watchlists.
2. Technology and Platform: Fetch.ai is built on top of the Ethereum blockchain, which means it is an ERC-20 token. It utilizes a unique technology called "Autonomous Economic Agents" (AEA) that enables the platform to operate in a decentralized, trustless environment. AEAs are intelligent agents that can carry out tasks and communicate with other agents to complete complex operations.
The platform also provides multi-chain support, allowing developers to build and deploy decentralized applications (dApps) across multiple blockchain networks. This feature enables interoperability between different blockchains and enhances the overall usability of the platform.
2. Team: The Fetch.ai team consists of experts in AI, machine learning, blockchain, and software development, led by CEO Humayun Sheikh. The team comprises experienced professionals from top organizations such as DeepMind, HSBC, and the University of Cambridge, among others.
3. Competition: Fetch.ai operates in a highly competitive market with several other blockchain-based AI and machine learning platforms such as SingularityNET (AGI), Ocean Protocol (OCEAN), and Cognitivescale (COG). However, Fetch.ai has established itself as a leading platform by focusing on specific industries such as supply chain, healthcare, and decentralized finance, among others.
4. Supply: Fetch.ai has a total supply of 1,152,997,575 FET tokens, with a circulating supply of 818,912,300 FET. The token has no maximum supply limit.
1. Technology risks: As Fetch.ai operates in a cutting-edge area of artificial intelligence and blockchain technology, there is a risk that the technology behind the project may not be able to deliver on its promises, leading to a decline in the value of the FET token.
2. Market risks: The market for blockchain and AI technologies is highly competitive, and there is a risk that Fetch.ai may not be able to gain significant market share, which could impact the value of the FET token.
3. Regulatory risks: As with all cryptocurrencies and blockchain projects, there is a risk that regulatory changes may impact the value of the FET token. Increased regulation or unfavorable regulations could make it more difficult for Fetch.ai to operate, leading to a decline in the value of the token.
4. Adoption risks: While Fetch.ai has partnerships with several major companies, there is a risk that the project may not be able to gain widespread adoption, which could impact the value of the FET token.
5. Cybersecurity risks: As with all cryptocurrencies and blockchain projects, there is a risk of cyber attacks, which could lead to a loss of funds or damage to the reputation of Fetch.ai. Any significant security breach could impact the value of the FET token.
Potential market development triggers
1. Increased adoption of decentralized autonomous organizations (DAOs) and smart contracts: As FET is designed to facilitate the creation of autonomous agents and secure execution of smart contracts, an increase in adoption of these technologies could drive demand for the FET token.
2. Expansion of the AI and machine learning markets: As Fetch.ai aims to build a decentralized infrastructure for AI and machine learning, an increase in adoption and investment in these markets could lead to increased demand for the FET token.
3. Growth of the Internet of Things (IoT) market: As Fetch.ai is designed to integrate with IoT devices to facilitate decentralized decision making, growth in the IoT market could lead to increased demand for the FET token.
4. Strategic partnerships and collaborations: The announcement of new partnerships and collaborations with established companies and organizations could increase visibility and adoption of the Fetch.ai platform and therefore demand for the FET token.
5. Development of new use cases: As more innovative use cases are developed for Fetch.ai, such as in the areas of supply chain management, data sharing, and energy distribution, demand for the FET token may increase.