Fetch.ai is a blockchain protocol that enables the development, deployment, and orchestration of multi-agent systems in an open AI Agents marketplace. Its token (FET) is an ERC-20 token, with approximately 2.6 billion FET tokens in circulation.
FET is used to pay for network transaction fees, deploy AI, and pay for services. Users can also choose to stake FET to participate in securing the network through its Proof-of-Stake consensus mechanism and earn rewards for contributing to validator nodes.
The core investment revolves around Fetch.ai, SingularityNet, and Ocean Protocol collaborating to establish the Superintelligence Alliance. All tokens will be consolidated to create a universal AI token, $ASI. This quasi-merger will combine these leading companies into a more streamlined platform for creating, deploying, storing, retrieving, and running AI.
There is a possibility of additional mergers in the future. Currently, Cudos is holding a vote to join the alliance and would merge under the $ASI token if approved.
Deutsche Telekom T-Mobile has been expanding its interest in blockchain and Web3 this year. They have been running Bitcoin and Lightning nodes, plan to start mining Bitcoin, and have become a validator for Fetch.ai.
Ultimately, the resulting Superintelligence Alliance functioning on the $ASI token will offer AI builders a decentralized stack of efficient and automated smart contract agents that will be more seamlessly embedded in everyday tasks.
Read more about Fetch.ai:
https://academy.bit2me.com/wp-content/uploads/2023/05/fetch-ai.pdf
https://cointelegraph.com/news/deutsche-telekom-plans-bitcoin-mining-btc-prague