- Fetch.AI is investing $100 million to expand its blockchain capabilities and launch Fetch Compute, providing developers with advanced GPUs for complex AI models.
- Fetch.AI is introducing a new reward system for FET token holders starting March 7th – FET holders will accrue credits to cover GPU usage fees on Fetch’s network.
- The rewards program aims to empower FET holders and developers to undertake resource-intensive decentralized AI projects on Fetch.AI’s blockchain.
Artificial intelligence platform Fetch.AI has unveiled a $100 million plan for expanding its blockchain capabilities and rewarding FET token holders. This investment demonstrates the network’s commitment to supporting developers and driving innovation.
The $100 Million Infrastructure Development Fund
Fetch.AI has secured $100 million in infrastructure development funding to launch Fetch Compute. This initiative will leverage advanced GPUs from Nvidia to establish a robust platform for developers to harness computing power. By addressing GPU scarcity, Fetch.AI aims to catalyze exploration of complex models and solutions on its blockchain.
The funding comes from the Fetch Ecosystem Fund. According to CEO Humayun Sheikh, “Fetch Compute is not just an infrastructure investment, it’s an investment in the future of AI and the ecosystem of innovative developers who are pushing the boundaries of what’s possible with our platform.”
Introducing Rewards for FET Holders
Alongside the launch of Fetch Compute, Fetch.AI is rolling out a new reward system for FET holders.
Starting March 7, FET holders will accrue Fetch Compute Credits that enable them to cover GPU usage fees. This grants access to the scarce computational resources of Fetch’s decentralized network. FET can also be used directly to pay for compute usage.
Per Sheikh, “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.”
This development marks a major step forward for creators undertaking resource-intensive decentralized AI projects on Fetch.AI’s blockchain. With the new rewards program, the network is empowering FET holders and developers to shape the future of AI innovation.
