Artificial intelligence and machine learning are changing the face of commerce, computing and other technology every day.
In its simplest form, the information that AI collects is really just data that can be used for interpretation, and blocks have been created to store and transfer data.
Fetch.ai (FET) is an artificial intelligence laboratory in Cambridge that aims to use distributed ledger technology to create a decentralized machine learning platform that can process any type of data securely worldwide.
Data from Cointelegraph Markets and TradingView show that the FET price has risen 720% since early 2021 and reached a new annual high of $ 0.40 this week.
Partnership announcements and DeFi integrations drive adoption
Browsing through the project’s Twitter feed shows that the hype began to emerge in late January when Fetch.ai began tweeting about the Mettalex Project (MTLX), a decentralized exchange (DEX) for the Fetch.ai ecosystem that specializes in bringing into the “independent and smart Oracle” DeFi.
Given that DeFi is another fast-growing sector, the inclusion of FET has been followed by a significant increase in trading volume.
As part of the launch of Mettalex, FET token holders were given the opportunity to participate in tokens on the platform for 3 months and receive a 10% income, which will be paid in MTLX tokens.
During February, the project continued to gain traction following several high-profile partnerships, in particular an agreement with Bosch Group, to help the platform launch a multifunctional blockchain project designed to support Web 3.0.
Although the blockchain project has been tested since October 2020, it looks like a mid-March release is on track, judging by the following tweet from the Fetch.ai team:
The subsequent release of the project’s first native app in the app store indicates that the expansion of the Fetch.ai ecosystem is just beginning, and the registration of transaction volume and transactions indicates a growing interest in the protocol focused on artificial intelligence.