Crypto Quill

Fetch.ai, an artificial intelligence (AI) lab that builds a decentralized machine learning network, has seen its native token FET soar in value in the past few weeks. FET, which is used to find, create, deploy and train digital twins on the Fetch.ai network, has increased by more than 600% since the beginning of the year, reaching an all-time high of $1.19 on December 18, 2023.

What is Fetch.ai?

Fetch.ai is an innovative platform that connects the Internet of Things (IoT) devices and algorithms for collective learning. It is built on a high-throughput shared ledger that combines blockchain, AI, and multi-agent systems. The architecture of Fetch.ai delivers unique smart contract capabilities that can deploy machine learning or AI solutions, which help in decentralized problem-solving.

Fetch.ai was founded in 2017 by a team of experts, including Humayun Sheikh, the CEO and co-founder of the project, and Toby Simpson, Thomas Hain, and Jonathan Ward. The company’s main partners include BOSCH, German manufacturing, and technology work with Fetch.ai to launch a fully-functional blockchain network V2.0 Mainnet. The Festo team partnered with Fetch.ai to launch a decentralized manufacturing marketplace. Catena-X, innovative telecom laboratories, Fireblocks, YOTI, etc., are other main partners of the ecosystem.

Why is FET Price Rising?

One of the main reasons behind the FET price rally is the growing demand for AI crypto projects that aim to optimize complex networks, such as DeFi platforms, transportation, energy grids, and travel. Fetch.ai is one of the leading projects in this field, as it democratizes access to AI technology with a permissionless network upon which anyone can connect and access secure datasets by using autonomous AI to execute tasks that leverage its global network of data.

Another factor that boosts the FET price is the recent partnership with OpenDAO and OCP. The holders of FET on Binance Smart Chain can use them for staking and the exchange of OMNIC tokens and minting USDO stablecoins. This provides more utility and liquidity for the FET token, as well as exposure to the DeFi sector.

Moreover, Fetch.ai has been developing and launching new features and products that enhance its network and ecosystem. For example, the Fetch.ai team recently released the Digital Twin Framework, which provides modular components that help teams build marketplaces, skills, and intelligence for digital twins to connect with. The team also introduced the Open Economic Framework, which provides search and discovery functions to digital twins, and the Digital Twin Metropolis, a collection of smart contracts that run on a WebAssembly (WASM) virtual machine to maintain an immutable record of agreements between digital twins.

What are the FET Price Predictions?

According to various sources, the FET price predictions are bullish for the short and long term. Based on our Fetch.ai price prediction 2023, the token will trade at an average value of around $0.41, with a maximum value of $0.59 for the entire year. By the time it is 2025, the FET average value may be around $0.67 for the entire year, based on our FET price prediction. As per our Fetch.ai price prediction 2030, the FET crypto will have an average price of $0.67 without fail. At the same time, it is expected to have minimum and maximum prices of around $1.59 and $2.29, respectively.

However, some analysts are more optimistic about the FET price potential, as they believe that it can turn $10 into $10,000 in the future. This is based on the assumption that Fetch.ai will continue to innovate and dominate the AI crypto space, as well as attract more users and partners to its network.