Fetch.ai, an on-chain AI project, has unveiled Fetch Compute subsequent to securing a $100 million investment in its infrastructure. This suite of tools and training capabilities targets developers and users engaged in AI endeavors, aiming to elevate their capacity to craft sophisticated applications and fortify the AI economy’s foundations.
Utilizing Nvidia H200, H100, and A100 GPUs, Fetch Compute empowers developers within the Fetch.ai ecosystem to construct intricate models. The project’s funding was sourced from the Fetch Ecosystem Fund.
Furthermore, the company is rolling out a rewards initiative alongside the project. Starting March 7, 2024, users can stake Fetch.ai’s native $FET coin to earn Fetch Compute Credits, enabling them to cover GPU expenses on the Fetch Compute network.
From 7 March 2024, users staking the native coin $FET will earn Fetch Compute Credits which they can then use to pay for GPU utilization, allowing them to access these scarce resources on the decentralized Fetch compute network 🔥$FET can also be used to pay for compute usage.
— Fetch.ai (@Fetch_ai) March 5, 2024
At present, Fetch incorporates the DeltaV platform, an AI system driven by search functionalities. Leveraging Language Models (LLMs) and AI Agents, DeltaV facilitates user access to requisite computing services.
In the accompanying press release, CEO Humayun Sheikh remarked, “By combining significant computational resources with our innovative compute credit system, we’re empowering our community with the requisite support and tools to materialize their pioneering AI initiatives.”
Exploring the Synergy of Cryptocurrency and Artificial Intelligence: Pioneering Innovations Beyond Fetch Compute
According to CoinGecko data, $FET stands as the third-largest AI token, boasting a market capitalization of $2.3 billion. Remarkably, over the past week, $FET has surged by 75%, reaching a trading price of $2.22. This notable uptrend places it on par with leading meme tokens in terms of seven-day gains.
Tokens like $FET are poised to assume greater significance in the evolution of Web3, a conceptual framework envisioning the next phase of the internet. In this future landscape, characterized by the integration of blockchain technology, virtual reality, cloud computing, and AI, AI tokens such as $FET will play a pivotal role in shaping individuals’ interactions with the digital realm.
The rise of blockchains to prominence has largely been fueled by their promise of decentralization, affording greater democratized control over protocols and assets. Looking ahead, AI tokens hold the potential to democratize access to substantial computing and intelligence resources. This democratization could empower developers who may otherwise face limitations due to hardware constraints or funding restrictions.
Recent developments underscore the burgeoning momentum behind AI tokens. Bitget, a prominent cryptocurrency platform, reported double-digit percentage gains driven by AI tokens. Notably, the market capitalization of AI coins surged from $7 billion to $17 billion within the span of a month, as highlighted in Bitget’s blog post released at the end of February.
