Fetch.ai Adds 40k Users from GMS With Further Plans of Launching a Utility Token

Fetch.ai, a blockchain platform powered by machine studying and synthetic intelligence, has onboarded over 40k new customers from Get My Slice (GMS). GMS is a consumer-powered knowledge market that protects and permits customers to monetize knowledge generated from their social media actions. 

Overall, Fetch.ai’s overarching goal is to onboard hundreds of thousands of customers from web3 and web2 companies transferring ahead. Following this collaboration, Fetch.ai has indicated that it’s going to present technical help for GMS because it transit from web2 and deploy on a web3 framework abandoning the fiat incentivization system to a free market economic system. 

Fetch.ai additionally divulged that they plan to mint a GMS utility token adhering to the blockchain’s token requirements. The token will probably be underpinned by $FET, the native foreign money of Fetch.ai. $FET will probably be used for financing consumer transactions and settling on-chain charges. 

The partnership with GMS factors to Fetch.ai’s want to develop and carve out useful market share. In the latest previous, they’ve joined forces with established web2 companies reminiscent of Festo and Bosch, permitting industries to discover the increasing Fetch.ai ecosystem and expertise the facility of distribution and interconnection enabled by a collection of dApps deployed on the scalable blockchain. 

With GMS on board, Kamal Ved, the Chief Product Officer of Fetch.ai Network, mentioned the information sharing platform would profit from the blockchain’s tech stack main to higher automation and, thus, higher democratization.

“We are constantly looking for use cases that leverage the core tenets of Web 3.0 and give all the participants’ equitable control with fine-grained incentivization avenues. Use cases around data sharing based rewards such as the Get My Slice product offering can benefit using the Fetch.ai Network’s Web 3.0 tech stack of blockchain, agent-based automation, and AI to democratize data sharing.”

In the previous few months, Fetch.ai has aggressively developed its protocol, placing useful partnerships and, most significantly, advertising its core options. Its scalability and interoperability are among the many distinctive options separating the community from others.

Fetch.ai can function a layer-1 blockchain, permitting tasks like Bosch, Festo, and GMS, to leverage its low charges and excessive scalability. At the identical time, the blockchain can function a layer-2 blockchain, scaling the connecting platform. This is feasible as a result of Fetch.ai cloth is predicated on Cosmos. The platform’s capabilities had been additional enhanced following the Fetch.ai v2 launch in Q1 2022, permitting companions to deploy interoperable and AI-guided Autonomous Economic Agents (AEA).

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