Fetch.ai seizes $40M investment despite decline in AI sector token performance


CoinDesk Consensus

As the world increasingly relies on artificial intelligence (AI), from search engines to self-driving cars, it’s no surprise that traders and investors are turning their attention to the intersection of AI and cryptocurrencies. That’s it.

The intersection of AI and cryptocurrencies is rapidly becoming a hot topic among traders and investors, with many betting on the potential of AI-focused tokens as the next growth sector.

Fetch.AI Receives $40M Investment

One of the leading players in this attack is Fetch.ai (FET), an AI-focused crypto protocol that recently raised $40 million from market maker and investment firm DWF Labs.

According to a report published on CoinDesk on March 29, Fetch said its investment in deploying machine-to-machine tools will further its AI integration.

“Fetch.ai’s platform provides a comprehensive solution for building and deploying peer-to-peer applications with automation and AI capabilities,” said Fetch AI’s Andrei Grachev in a statement.

Other Notable AI Cryptos

Fetch is one of several other AI cryptos such as SingularityNET (AGIX), Graph (GRT), Ocean Protocol (OCEAN), and RLC. All of these tout their ability to integrate with AI as part of their core founding principles.

The crypto AI sector has a market capitalization of $3.64 billion, according to crypto slate Data — down $233 million from February.

In addition to investing in certain AI sector cryptocurrencies, a number of new technologies have also emerged recently aimed at helping investors through AI-powered trading bots. One such company pulse foliowhich leverages machine learning algorithms and historical market data to formulate customized trading strategies for users based on their risk tolerance and asset objectives.

Chat GPT’s meteoric growth pauses

AI stresses me out,” says Elon the mask said Earlier this month — March 29 was followed by an open letter signed by Musk and others calling for a six-month “moratorium” on language models.

“Powerful AI systems should only be developed when we believe their effects are positive and the risks manageable,” the letter said, noting that OpenAI’s Chat GPT-4 could be used in areas such as healthcare. I argued that we need to give it more time to see how it affects us. , law, accounting and even investment.

By 2033, Goldman Sachs Predict Its AI will increase global GDP by 1.5% and push market capitalization to $7 trillion. On the same topic, Goldman Sachs said:

“AI is seen as the next big change in technology following the evolution of the internet, mobile and cloud. […] Generative AI tools will have far-reaching impacts across industries, from enterprise software to healthcare to financial services and more. ”

Leave a Reply

Your email address will not be published. Required fields are marked *