In the competitive landscape of AI and cryptocurrency projects, Fetch.AI has made headlines with a significant development. The company has received a substantial $100 million investment and has introduced a project known as Fetch Compute. This initiative aims to strengthen the AI economy‘s foundation by enabling the creation of innovative applications.
Expanding the Fetch.AI Ecosystem
Fetch.AI plans to use this major investment to enhance the infrastructure of its platform. The expansion will focus on improving the tools and training available for users and developers, boosting the capacities of the Fetch.AI ecosystem. Fetch Compute will be powered by Nvidia’s advanced GPUs including H200, H100, and A100 models, providing users with robust computing capabilities.
The introduction of Fetch Compute is expected to offer easier access to complex AI models and solutions, hastening the rate of innovation. Fetch.AI’s strategic move is set to remove barriers for developers and users, fostering growth and creativity within its network.
Fetch.AI Token Holders to Receive Compute Credits
In a move to further engage its community, Fetch.AI announced that from March 7, 2024, holders of its native token FET who participate in staking will be rewarded with credits for the Fetch Compute network. These credits can be used to cover the costs of GPU usage, thereby incentivizing the holding and usage of FET within the platform.
As these announcements were made, market watchers have seen a prompt increase in the price of FET. The token experienced a rapid rise, which is emblematic of the bullish sentiment that often follows such positive developments. Although FET has retracted slightly from its peak, it is trading higher at $1.8188, marking a 4.82% increase. The market capitalization has experienced a minimal decrease but stays above $1.5 billion, with a noteworthy 18% jump in the 24-hour trading volume to $400 million—indicating a growing investor interest in FET following the news.
