What Is Fetch.AI ($FET)? Fetch.AI Token Price Prediction

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5 Feb 2024

1. WHAT IS FETCH.AI?

What is Fetch.AI coin? Fetch.AI is a technology solution built on artificial intelligence to construct tools and infrastructure to activate a decentralized cryptocurrency-driven economy, facilitating its autonomous operation.
This is a next-generation protocol designed to be ready for the Useful Proof of Work consensus mechanism. FET aims to incorporate machine learning (ML), artificial general intelligence (AI), multi-agent systems, and decentralized ledger technology to create a new Internet economy.

What is Fetch.AI crypto | Source: Fetch.AI

2. HOW DOES FETCH.AI WORK?

Fetch.AI operates based on three core principles: Autonomous Economic Agents (AEA), Open Economic Framework (OEF), and Smart Ledger.

2.1. Autonomous Economic Agents

This is a software entity that can act without external stimulation, and digital components can interact independently under human intervention.
These small programs will represent users interacting with each other to solve complex problems while sharing interactions from the past, thereby improving the process for the future.

2.2. Open Economic Framework

The OEF provides autonomous software agents with the ability to make decisions autonomously, thereby automatically reorganizing to create an optimal environment for agent activities. The agents within it are called the Open Economic Framework. Each agent has an optimized real-time workspace focusing on crucial factors.

What is Fetch and how does it work? | Source: Fetch.AI

All AEAs are stored within the OEF, operating as a growing ecosystem that enables agents to search, discover, and interact with each other. As the ecosystem develops, collective intelligence will guide the best ways to execute transactions quickly and with high reliability, enhancing the efficiency of the Smart Ledger.

2.3. Smart Ledger

The Fetch ledger is structured like a ledger with the incorporation of elements from Directed Acyclic Graph technology. Fetch.AI will use Sharding to enhance scalability, meeting transaction volume while still providing fast and consistent confirmation times.

2.4. Cryptography

Enhancing the speed, efficiency, and security of the blockchain by utilizing next-generation Multi-Party Computation (MPC) protocols for random number generation and aggregate signatures.

3. WHAT IS FETCH.AI USE CASES?

At present, Fetch.AI has the following popular applications:

3.1. Simple Open Economic Framework

The Simple Open Economic Framework is the latest version of the Fetch.AI search and discovery system for agents. Agents can describe how they look, what they do, and what they find, or discover by other agents. They can search based on semantics and/or geography, identifying things that are important to them.

3.2. Autonomous AI Travel Agents

Fetch.AI has built a framework application to enable hotel operators to deploy autonomous AI travel agents for marketing, negotiation, and conducting their inventory transactions on the Fetch.AI network. They can receive payments in fiat or cryptocurrency, facilitated by FET tokens.

3.3. Agent Registry and Marketplace

The project has developed a new Autonomous Economic Agent registration agency that allows you to build agents and participate in this new digital economy much more easily. The goal is to create an efficient “App Store” for developers, enabling you to access and build agents more than ever before

4. KEY FEATURE OF FETCH.AI

Fetch.AI has a three-layered structure in ascending order as follows:

AEAs (Autonomous Economic Agents) extract data from hardware and data resources, then provide it to those in need.
The Open Economic Framework (OEF) generates agents in the decentralized virtual world.
Smart Ledger capable of scaling to tens of thousands of transactions per second (TPS).

5. WHAT IS FETCH.AI TOKEN?

FET is the token of Fetch.AI used to deploy and train autonomous economic agents, essential for smart contracts, oracles, and transactions required to facilitate the new digital economy.

5.1 Fetch.AI Token Price

According to the Klarda App, the latest updated price of Fetch.AI is $0.5414. This price has decreased by 0.56% compared to the previous day. However, this is not a fixed value and may change hourly and daily. You should monitor regularly to stay updated on the latest prices.

5.2 Fetch.AI Tokenomics
Here is some latest basic information about the FET token:

Token Name: Fetch.AI Token
Ticker: FET
Blockchain: Ethereum
Token Standard: ERC-20
Contract Address: 0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85
Token Type: Utility Token
Current Circulating Supply: 688,117,804 FET
Total Supply: 1,152,997,575 FET

5.3 Fetch.AI Token Allocation

For the Fetch.AI's FET token, the allocation is as follows:

Public Sale (IEO): 6%
Private Sale: 6,38%
Seed Round: 5,24%
Foundation & Team: 19,99%
Advisors: 10%
Futures Releases: 18%
Mining: 15
Foundation: 19,99%

FET token allocation

6. HOW TO BUY FETCH.AI TOKEN?

To buy Fetch.AI tokens, you can follow these steps:

Step 1: Choose a cryptocurrency exchange offering FET, including Binance, Coinbase, Gemini, Kraken, etc. Each platform has its fees, supported payment methods, and features. Consider factors like security, fees, and ease of use when choosing an exchange.
Step 2: Create an account verify your identity by your personal information and undergo KYC (Know Your Customer) verification to comply with regulations.
Step 3: Fund your account using various methods like bank transfer, debit/credit card, or other supported cryptocurrencies.
Step 4: Once your account is funded, navigate the exchange's interface to find the FET trading pair (e.g., FET/USDT, FET/USD). Choose an order type (market or limit) and specify the amount of FET you want to buy.
Step 5: After purchasing, transfer your FET tokens to a secure wallet like a hardware wallet for better protection.

7. FETCH.AI FAQS

If you are new to learning about Fetch.AI, you may refer to some frequently asked questions below:

7.1 Is Fetch.AI A Good Investment?

Is Fetch.AI crypto a good investment? Whether or not Fetch.AI (FET) is a good investment for you depends on your individual financial circumstances, risk tolerance, and investment goals. Fetch.AI utilizes a combination of blockchain and artificial intelligence to facilitate autonomous economic agents, which has the potential to revolutionize various industries.
However, the cryptocurrency market is known for its fluctuations, and FET is no exception. Its price has experienced significant swings in the past. It is still in its early stages of development, and its technology hasn't been fully implemented yet.

7.2 Is Fetch Worth It?

It is not a simple yes or no answer, as any investment carries inherent risks and uncertainties. Fetch.AI's concept of autonomous economic agents powered by blockchain and AI has the potential to revolutionize various industries, creating a more efficient and decentralized economy.

7.3 Fetch.AI Token Price Prediction

Fetch.AI is a platform believed to have future development potential. The price of FET also fluctuates daily, ranging from 0.5% to 2%. Therefore, FET remains an investment option you may consider for potential returns in the future.

7.4 Should I Buy a FET Token?

As analyzed above, whether to buy or not depends on your strategy and the level of risk you can tolerate. If you are seeking a potentially profitable investment and are willing to take risks, consider investing in FET tokens.
Through this article, you probably have a clearer understanding of what is Fetch.AI. Fetch.AI is an ambitious project with significant potential to transform the operation of the economy. By combining blockchain and artificial intelligence, Fetch.AI is creating an ecosystem that enables economic agents to operate more efficiently and securely.
It is estimated that over 95% of investors aren’t able to make any kind of profit with the cryptocurrency. The information provided in this article is for informational purposes only and should not be considered financial or investment advice. Always conduct your research and consult with professionals before making investment decisions.
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