What is Fetch.AI?
Fetch.AI is an entity that is building decentralized artificial intelligence (Dai). The Dai that they are building features agents that have the ability to make quick and accurate predictions based on user input (questions or answers). These agents are capable of learning from previous questions or answers but are also able to make human-level prediction with ease.
Fetch.AI is implementing a token called FET, “a utility token that allows users to purchase and use the platform’s AI agents for prediction”. Although FET can be used for any transaction on the platform in the future, Fetch.AI does not currently use it for transactions.
The tokens are expected to play an important role in incentivizing users and agents to work together (see white paper). As you could probably guess, the ability of an agent to make predictions and do research will depend on how much data it has available. The more data an agent has access to, the more accurate its predictions can be. The purpose of the Fetch.AI token will be to compensate users for providing/sharing data.
Fetch.ai Coin Founders
Tom Ding, CEO of Fetch.ai holds an MBA from The University of Cambridge and has previously held executive roles at Ocado and Macquarie Capital. He is joined by CTO Toby Simpson, who focuses on artificial intelligence and its application in autonomous systems (both software and hardware). Together they are building a team that consists of notable advisers in both the AI industry as well as the finance industry.
Why should you invest in Fetch.AI?
The Fetch.AI team already has a working prototype that uses blockchain technology to store data and execute machine-learning algorithms. It also features five different “agents” (for lack of a better word) that allow users to make predictions in many different situations. The Fetch.AI team recognizes that there are many different use cases for the platform, and they expect to roll out more projects including chatbots, smart contracts, and personal assistants.
The Fetch.AI team is also planning to roll out a series of useful applications that will utilize blockchain technology for data storage and AI research. They hope to develop the best protocol for decentralized artificial intelligence by sharing the tools used to build these applications freely with the public (there’ll be a paid version of this software available after it’s been perfected). Many people have tried to build decentralized artificial intelligence or DAI in the past but have failed (no one has successfully built an autonomous agent that can learn from new information). The Fetch.
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Price Prediction For FET/USD For 16th August: https://t.co/r7ySHzdoIf Bulls Are Dominating The Market#crypto #bitcoin #eth #nft #nftcommunity #nftgiveaway— Crypto Investment News (@Cryptocouporg) August 17, 2022
Fetch.ai Price Prediction 2022
The future price of Fetch.ai will be determined by a few factors including the platform adoption rate, the token economics, and the team’s ability to keep people interested in this new technology (there is strong competition from both blockchain and centralized AI companies).
Fetch.ai is intended to be used for more than general PREDICTIONS (although it will be great for that), so I expect that their success won’t rely solely on the price of FET. The token price will be affected by how much the developers are able to accomplish with their token.
Is Fetch.ai a good investment?
I believe that token economics are important in determining the future price of a crypto asset. As I mentioned above, FET is being used as an incentive for DAI agents to do their jobs correctly and share data with each other. Token economics are also important for Fetch.ai because they’re planning to use this token to build a series of applications that will be sold on the blockchain platform.
Fetch.ai is a good investment for the medium-term and long-term, principally because it has a variety of uses cases that are scalable and will be monetized over time. I would expect that Fetch.ai will be able to show improvements in the adoption and value of the token over time.
