Binance Launchpad to witness Fetch.AI (FET) Token Sale Event

Binance Launchpad to witness another Fetch.AI (FET) Token Sale Event

Fetch.AI announced that its ERC20 FET Token Sale on Binance Launchpad

Fetch.AI is a decentralized digital world where economic transactions are possible by Autonomous digital agents on behalf of individuals, services or devices. Such interactions are possible independent of any human intervention. These 'Autonomous Economic Agents' can find, communicate and trade with each other, thus enabling machine-to-machine microtransactions.

FET token will serve as the medium of exchanging value among the agents in the Fetch.AI digital world. According to the announcement, FET token sale on Binance Launchpad will begin on Monday 25 February at 14:00 UTC.

Executive Opinion

Chief Executive Officer (CEO) of Fetch.AI, Humayun Sheikh, said, "Today's internet is built for e-commerce solutions but the new web needs to enable more autonomous solutions and this requires building the infrastructure and tools to make it deployable. Fetch.AI is building the deployment infrastructure, which brings the new AI-based autonomous machine economy to life."

Binance CEO and Founder, Changpeng Zhao (CZ), said, "The Fetch network is in a position to help overcome barriers presented by centralised systems for bringing data to life, leveraging an AI and decentralised solution. We are looking forward to this project that will help create a decentralized digital world for the future of economic activities and marketplaces."

Fetch.AI and FET Token Use Cases

Internet-of-things (IoT) devices enabled by Fetch agents can increase device utilization using the information they already acquired. whitepaper list one of the use cases where an agent in a vehicle can provide weather and road conditions by simply relaying the activity of its windscreen wiper and washer activity. Also, hotel rooms or hospital bed can be enabled by Fetch agents to manage autonomous bookings, pricing, and maintenance etc.

Fetch agent can also personalize user experience on smartphones based on human interaction with the device by analyzing data in email, calendar, and other apps.

FET token is used as a medium of exchanging value when autonomous agents interact with each other and for network operations such as secure communications. It is mandatory to have FET token for network exchanges, as it serves as a refundable method of registering with the network, for staking and as a mechanism for delivering value back to those performing work on the network.

Fetch is issuing a fixed number (1,152,997,5753) of divisible tokens that are used on the network as the digital currency for all transactions and for network operations such as secure communications.

FET is ERC20 utility token and it will be issued on Ethereum. Hashgraph, IOTA, Ocean protocol (a marketplace for data and algorithms), SingularityNet. Satori (platform on hashgraph ledger/protocol), Neurochain are the possible competitors of Fetch.AI project.

You can download whitepaper of Fetch.AI here.


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Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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