In recent years, the world has witnessed many outstanding technological inventions. However, only a few are as peculiar and intriguing as the Fetch.ai network, a blockchain project employing artificial intelligence(AI).
While blockchain technology recently emerged in 2008 with the introduction of cryptocurrencies, the advent of artificial intelligence stretches as far back as the 1950s. Nevertheless, both technologies have contributed significantly to human development since their inception. At Fetch.ai, they intend to build a free, digital economic system by integrating blockchain technology with artificial intelligence.
Fetch.ai rolled out an end-to-end encrypted file-sharing platform dubbed DabbaFlow, facilitating and accelerating the potential of data sharing securely. DabbaFlow seeks to bridge the gap through encryption and decentralization for enhanced data management and monetization. How can Fetch. ai save you time and money, so you can do more of what matters to you?
We curated this guide to provide extensive details on Fetch.ai, its network, native token FET, its price overview, technical analysis, and price predictions for 2022-2031. Let’s go through the background on its native token, and determine whether to include FET in your investment portfolio based on what you’ve learned from the Fetch.ai price predictions.
Today’s Fetch.ai price is $0.086977 with a 24-hour trading volume of $20,815,287. Fetch.ai is up 4.66% in the last 24 hours. The current CoinMarketCap ranking is #336, with a live market cap of $64,894,846. It has a circulating supply of 746,113,681 FET coins and a maximum supply of 1,152,997,575 FET coins.
What is Fetch.ai?
Fetch.ai is an open, permissionless, decentralized network that combines machine learning and artificial intelligence to create an autonomous digital economy. This blockchain project is designed to connect people, devices, and services while enabling a safe data sharing mode.
Fetch.ai is based on the Cosmos-SDK and is equipped with a high-performance WASM-based smart contract language (CosmWasm). Fetch.ai network does various operations to produce consensus using a mix of Proof-of-Stake (“PoS”) and a protocol. The PoS protocol creates new blocks, with the transaction order defined by the work performed between two blocks. A directed acyclic graph (DAG) that builds between the blocks is used to record this effort. The importance of this protocol is explained here.
Fetch.ai: Blockchain and Artificial Intelligence
Fetch.ai was founded in 2017 by a UK-based developer team consisting of Toby Simpson, Thomas Hain, and Humayun Sheikh. On February 25, 2019, The project was launched via the Binance Launchpad platform, recording over $6 million in the sale of its utility token FET.
Fetch.ai aims to create a digital representation of a real economy. This blockchain platform consists of three vital components: autonomous economic agents(AEAs), Open Economic Framework (OEF), and the Fetch smart ledger.
As the name implies, autonomous economic agents are software capable of making independent decisions for themselves or their users in order to generate economic value. By employing artificial intelligence, these software agents can independently conduct a productive decision-making process directed toward well-defined goals stated by their users.
Autonomous economic agents can sell, buy, or negotiate deals on behalf of Fetch.Ai users. They execute such actions using a set of skills referred to as specialized software modules. With Fetch.ai, users can retain control over their data, as AEAs eliminate the need for unnecessary middlemen or intermediaries.
Furthermore, Fetch.ai operates an Open Economic Framework (OEF) in which users’ data can be traded among agents within the digital ecosystem using the Fetch.Ai native token FET. The OEF makes Fetch.ai a valuable innovation for data analysts or market experts tasked with providing information required to improve services.
However, all of Fetch.ai’s operation depends on the Fetch smart ledger, a blockchain innovation that integrates distributed ledger technology(DLT) with a directed cyclic graph(DAG). The Fetch smart ledger connects to the AEAs via machine learning and manages the market intelligence needed for the agents to operate. The Fetch smart ledger records all transactions on the Fetch.ai network; thus, it is responsible for safeguarding its integrity and reputation.
The Tech Behind the Fetch.ai Ecosystem
The infrastructure of Fetch.ai is built using multi-agent systems, a branch of artificial intelligence, allowing agents built by different developers for different purposes to interact productively with each other.
Although these agents are not designed to function as a single system, they innovate ways to cooperate and work together, thus promoting human-like behavior among agents within the Fetch.ai ecosystem.
While the Fetch.ai technology revolves around agents, the technology can be used to develop blockchain projects. These projects are part of the Fetch.ai ecosystem. They include:
- CoLearn: a blockchain-based collective learning module that enables multiple parties to collaborate on building machine learning models without any party having information on the other.
- Mettalex: the first decentralized exchange designed for traditional and crypto commodity derivatives.
- Resonate: a blockchain social network that employs artificial intelligence to provide a safe social experience for NFT enthusiasts. This application also features a unique NFT marketplace.
Other projects in the Fetch.ai ecosystem include Statfleit, Catena-X, Mobix, Atomix, and Axim.
Use Cases of Fetch.ai
There are various use cases of Fetch.ai due to the benefits of autonomous economic agents (AEAs). These applications include transportation and mobility, supply chain, decentralized finance, social networks, e-commerce, marketplaces, and e-commerce systems.
Utility of the Fetch.ai token
FET is an ERC-20 token, and it operates as the utility token of the Fetch.ai network with a range of uses:
- Transactions fees: FET is used to pay all transaction fees on the Fetch.ai network.
- Activation of AEA: While Fetch.ai allows developers to create agents, a certain amount of FET must be deposited to incorporate the software agent into the Fetch.ai ecosystem.
- Payment of services and data: On Fetch.ai, FET acts as the medium of exchange for all business transactions between agents.
- Staking: Fetch.ai users can stake FET via the network consensus algorithm to operate as validator nodes. Doing so, they contribute to network security while earning rewards on their staked coins.
- Investment tool: Like many cryptocurrencies, FET can be acquired to make a future profit as the coin gains value.
Fetch.ai Price History
The total supply of FET is 1,151,441,226, with a circulating supply of 746,113,618. Over the last 24 hours, the token has gained by 5.54%, leading to a current market price of $0.08194 and a live market cap of $61,132,916. In addition, Fetch.ai’s 24 hours trading volume has also increased by 43.13% to $12,378,655.
Top 10 Fetch.ai Markets
Fetch.ai Technical Analysis
The 4-hour FET price chart shows that the coin has gained over 9% in the past 24 hours, hitting highs of $0.09084. The general sentiment around the coin is bullish, and its technical analysis indicators point at a buy signal. However, its relative strength index indicates that the asset is overbought. If the buy push continues to rise, FET could hit its resistance level at $ 0.0911; otherwise, a trend reversal is imminent, and FET could drop to $0.0885.
Fetch.ai Price Predictions 2022 – 2031
Wallet Investor predicts Fetch.ai to fall by 90.506% in 2023, resulting in a market price of $0.00787. This forecast indicates the token could be an unfavorable long-term investment tool. However, FET may prove profitable in the short term, as Wallet Investor anticipates a price of $0.0853 in the coming days.
According to TradingBeasts, Fetch.ai will close 2022 with significant gains on its current price, trading at a minimum price of $0.107, a maximum price of $0.158, and an average price of $0.126. For 2023, TradingBeasts anticipates FET to start next year with a downtrend, trading as low as $0.0831 by April 2023. After that, the coin is predicted to embark on a bullish course, trading between $0.135-$0.199 by December 2023, with an average market value of $0.151.
Going into 2024, TradingBeasts predicts that FET will have an overall bullish market, excluding a slight dip in June 2024, where the average market price will be $0.150. They anticipate Fetch.ai to close the year at higher price levels than 2023, with expected average and minimum values of $0.179 and $0.152, respectively. By July 2025, FET could be trading at a mean market value of $0.195 per prediction from TradingBeasts. They further predict the utility coin to end 2025 with a minimum price of $0.178, a peak price of $0.262, and an average price of $0.210.
Coincodex predicts Fetch.ai to experience market losses in the coming days. They anticipate the coin’s value to fall to $0.0877 in five days and $0.0702 in one month.
For long-term investment, Coincodex predictions depict Fetch.ai could be a good investment. Based on expected technological growth, Coincodex forecasts FET to hit a market price of $0.111 in 2023, and $0.185 in 2025, if the token trails the development trajectory of the Internet. In addition, if FET mirrors the growth of a prominent tech firm, for instance, Google, Coincodex predicts the coin will attain a price of $0.134 in 2023 and $0.327 in 2025.
|Year||Minimum Price ($)||Average Price ($)||Maximum Price ($)|
Fetch.ai FET Price Prediction 2022
FET has shown market stability in the last month, gaining 17.11%. According to our predictions, the token will record more profits towards the end of 2022, closing the year with an average price of $0.11. We also anticipate maximum and minimum prices of $0.12 and $0.10, respectively. These market prices could result from the network’s latest mainnet upgrade, which aims to increase FET’s adoption by integrating Fetch.ai with the Inter-Blockchain Communication(IBC) protocol, thus making FET accessible on all IBC-enabled chains.
Fetch.ai FET Price Prediction 2023
FET coin will experience price gains in 2023 per our price predictions. The expected price range is $0.11-$0.13, with a mean market price of $0.12. If Fetch.ai is utilized in developing more blockchain-based applications, such as Mettalex, it could contribute significantly to these market prices in the future.
Fetch.ai Price Prediction 2024
In 2024, we anticipate FET to rise to a maximum price of $0.14, with its average price remaining at $0.12. However, a slight fall in the minimum market price is expected, leading to $0.10.
Fetch.ai FET Price Prediction 2025
According to our FET crypto price prediction for 2025, Fetch.ai will experience an overall bullish market resulting in the token trading as high as $0.18, with the least possible price being $0.14. Investors could also expect an average market price of $0.16. Suppose Fetch.ai executes its ecosystem development initiatives as planned. In that case, it could positively influence FET’s price in the coming years.
Fetch.ai Price Prediction 2026
In 2026, we predict FET to experience little market losses leading to a minimum price value of $0.13, a maximum value of $0.16, and an average market price of $0.15. Although this would be a bear market, investors could utilize this price dip as a market entry point to buy FET at a relatively lower price.
Fetch.ai Price Prediction 2027
Following our price predictions for 2027, Fetch.ai will rebound from the previous year, attaining a peak price of $0.23 and a minimum price of $0.16. We also forecast an average trading value of $0.19, representing a 128.9% increase on the current market price.
Fetch.ai Price Prediction 2028
According to our price predictions for 2028, Fetch.ai will steadily increase in value over the year, trading at a mean price of $0.26. The anticipated maximum and minimum prices are $0.24 and $0.28, respectively. If Fetch.ai provides more developer-friendly tools, such as Cosmpy – it could attract more developers, thus increasing the adoption level of FET.
Fetch.ai Price Prediction 2029
In 2029, we expect Fetch.ai to experience a massive surge in its prices, resulting in a minimum price of $0.33 and an average market value of $0.34. For that year, the coin is predicted to trade as high as $0.36.
Fetch.ai Price Prediction 2030
According to our price predictions for 2030, Fetch.ai will have a market price range of $0.37-$0.40, with a mean price of $0.38. With a continual upgrade of the Fetch.ai network to suit its user base, FET could experience rising adoption levels, resulting in higher price levels.
Fetch.ai Price Prediction 2031
By 2031, FET will have shown robust market growth, according to our predictions. The coin is expected to trade at an average price of $0.44, with its minimum value set at $0.41. We also anticipate FET to reach a maximum price level of $0.46, indicating a plausible 416.21% gain on today’s market price.
Fetch.ai is an incredible technological innovation with lots of potential. In the coming years, we expect a more significant portion of the world to recognize the data freedom, ease, and trading efficiency this AI-powered blockchain offers.
We also anticipate further developments on the path of the network developers in terms of upgrades and partnerships with major businesses and firms. Fetch.ai is expected to replicate actions such as its partnership with the Westham Football Club as the club’s first official AI partner, which was announced earlier this year.
According to our predictions, the token looks set to experience widespread adoption and attain high market price levels in the future. However, we must state that Fetch.ai price forecasts are not guaranteed. As an investor, you are urged to conduct your own research and consult a financial advisor before engaging with the cryptocurrency market.