Fetch.ai combines two of the most powerful technologies – artificial intelligence and blockchain – to offer users something phenomenal. The platform aims to connect the Internet of Thing devices with algorithms for an improved experience. Fetch.ai was founded by Toby Simpson, Humayun Sheikh and Thomas Hain in 2017, Cambridge. It has established a strong footing in the market and currently stands at a market rank of 115 in terms of capitalization.
What is Fetch.ai?
Fethc.ai regards itself as an artificial intelligence lab were the development team works on tools and infrastructure which will help phase in the decentralized digital economy. It is built on a high throughput sharded ledger which also has the compatibility of smart contracts. This allows the network to deploy machine learning and artificial intelligence solutions for the decentralized space.
Both AI and the blockchain technologies are considered to be disruptive and when combined together they have the potential to truly transform the world. Fetch.ai with its interesting proposition is expected to help facilitate the transformation. The network has multiple use cases with many being currently explored. Some of the areas that the network has a potential focus in are financial services, the reconfiguration of public transport, smart cities and smart grids for the energy network.
What is the future of FET?
The development team has been highly active with many major activities being in the works. One of the major developments that is set to happen on the network is the launch of the first ever auction of an NFT collection generated by Fetch.ai’s Collective Learning Framework. The network also announced a new upgrade of the mainnet by the name of Stargate which will soon be implemented. The strong fundamentals coupled with the upcoming developments may result in a price rally for the cryptocurrency.
The cryptocurrency has been performing phenomenally amidst the major announcements. It established a new all-time high at $1.19 in the weekly timeframe – although the market has now entered corrections. The price of the cryptocurrency has fallen by 4% in the past twenty-foru hours while the daily trading volume has suffered by more than 40%.
The future of FET coin is bright. According to the estimates of Wallet Investor, the cryptocurrency is expected to be trading hands at $1.26 in a year’s time while the five-year projection places it at $3.00. Digital Coin Price projects a similar trajectory for the cryptocurrency. Per their estimates, Fetch.ai will end the year with a price level of $1.35 and reach towards $3.11 by 2026.