Fetch.AI, among the most fiercely expected ICO’s of 2019 (and only the 2nd ICO to release under Binance’s Launchpad program) attained an effective raise after just 10 seconds!
Fetch.AI is developing very smart facilities that connect transportation, production, hospitality and supply chain systems to track operational data and produce predictive functionalities that can not only increase efficiency, however, also make use of underutilized assets, offering optimal value on the supply and demand side. The project raised 69,204,152 FET, which is approximately $6 million in 10 seconds. The funding has 2,758 patrons, making the typical contribution of $2,175.
Binance CEO CZ also tweeted out confirmation of the projects effective raise, specifying that “The line was totally packed within seconds”, “the processing is just draining the line slowly.”
It was over in a about 10 seconds. The queue was totally packed within seconds. The processing is just draining the queue slowly. Congrats to @fetch_ai !
— CZ Binance (@cz_binance) February 25, 2019
This successful ICO is signing up with the previous Binance Launchpad project, BitTorrent. In this case, the crowdfunding ended in 15 minutes and 7.1 M USD were raised. In the short term, the ICO proved itself to be really important with 10X compare to the ICO price in its ATH up until now. There’s no word yet on when FET tokens will be provided for trading on Binance. You can keep up with the most recent updates about Fetch.Ai by following their blog site or Telegram page.
Autonomous Agents
Fetch.AI is a decentralised digital world in which useful economic activity occurs. This activity is performed by Autonomous Agents. These are digital entities that can negotiate separately of human intervention and can represent themselves, gadgets, services or people. Agents can work alone or together to build solutions to today’s complex problems.
Open Economic Framework
The digital world in which agents live is called the Open Economic Framework (OEF). This world functions as the supreme value exchange dating agency: each agent sees a space optimised in real-time just for them, where crucial things are clear and noticeable and lesser things are merely eliminated. The OEF supplies the senses for agents: their sight, touch and hearing to provide to them a world distinct to the audience.
Smart Ledger
Underpinning the digital world is the smart ledger: a brand-new generation of learning ledger that provides a cumulative super-intelligence to support agents’ private little bits of intelligence. It offers market intelligence, previously locked up in centralised silos, to everyone so that any agent that wants something is guaranteed of the shortest possible route to find another that has it. Fetch.AI’s smart ledger scales to support countless transactions per second and is able to reorganize itself to provide the OEF’s digital world to the agents that use it.
WHAT IS FET?
Fetch.AI (“the Project”) unites machine learning (“ML”), artificial intelligence (“AI”), multi-agent systems and decentralized ledger innovation to produce an economic web, an environment where digital representatives of the economy’s moving parts (such as data, hardware, services, people and facilities) can get useful work done through effective intros and predictions. These agents can be thought of as digital entities: life-forms that are able to make choices on their own behalf in addition to on behalf of their stakeholders (people, personal enterprises and federal governments for instance).
Fetch.AI’s digital world is exposed to agents through its Open Economic Framework (OEF) and is underpinned by unique smart ledger innovation to deliver high performance, low expense transactions. The ledger delivers helpful proof-of-work that builds market intelligence and trust in time, growing the value of the network as it is utilized. Fetch.AI can be nicely interfaced to existing systems with very little effort, allowing it to make the most of the old economy whilst building the new: plug existing data into Fetch.AI and watch markets spontaneously form from the bottom up.
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