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Author: Admin | 2025-04-28
Last updated: March 6, 2024 11:27 EST Tim Hakki Web 3 Journalist Tim Hakki About Author A journalist and copywriter with a decade's experience across music, video games, finance and tech. Last updated: March 6, 2024 11:27 EST Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews Fetch just poured $100 million into its new crypto-based AI platform. On-chain AI project Fetch.ai has announced the launch of Fetch Compute following a $100 million investment in the project’s infrastructure.Fetch Compute is a suite of tools and training capabilities for developers and users working with AI. It bills itself as a project “designed to supercharge participant’s ability to create advanced applications to deepen the foundations of the AI economy.”The platform deploys Nvidia H200, H100 and A100 GPUs for its generating power, providing the means for developers to build more complex models within the Fetch.ai ecosystem.Financing for the project came from the Fetch Ecosystem Fund.Additionally, the company is launching a rewards program with the project. From 7 March 2024, users can stake Fetch.ai’s native coin $FET coin to earn Fetch Compute Credits, which they can use to pay for GPU on the Fetch Compute network.From 7 March 2024, users staking the native coin $FET will earn Fetch Compute Credits which they can then use to pay for GPU utilization, allowing them to access these scarce resources on the decentralized Fetch compute network 🔥$FET can also be used to pay for compute usage.— Fetch.ai (@Fetch_ai) March 5, 2024Fetch currently comprises the search-based AI DeltaV platform, which uses Language Models (LLMs) and AI Agents to to connect users with the computing services they need.In the accompanying press release, Fetch.ai CEO Humayun Sheikh said: “By marrying substantial compute resources with our unique compute credit system, we’re ensuring that our community has the support and tools necessary to bring their visionary AI projects to life.”Beyond Fetch Compute: Crypto And AIAccording to data by CoinGecko, $FET is the third largest AI token with a market capitalization of $2.3 billion. It also rallied harder than most top AI coins this last seven days: $FET grew 75% to trade at $2.22, making its seven-day gains on par with top meme tokens.AI tokens like $FET will no doubt play a bigger role in
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