Bitget Invests $10 Million To Promote Fetch.ai Ecosystem

Key Points:

• Bitget has invested $10 million in the AI platform Fetch.ai.
• Fetch.ai develops technologies for building services based on automation and artificial intelligence for finance and prediction.
• The listing of Fetch.ai ecosystem tokens or token sales on the Bitget Launchpad platform will also give general assistance for the Fetch.ai ecosystem.

The crypto derivatives exchange Bitget announced on April 27 that it had pledged $10 million to the development of the Fetch.ai ecosystem.

The news comes on the heels of the exchange launching a large fund geared at assisting promising firms with potential listing on the local Launchpad. This year’s market has been dominated by AI hype. Investors, as well as cryptocurrency leaders, are placing large bets on the AI business.

Fetch.ai offers the foundation for the development of self-driving services. Its main product is the artificial intelligence (AI) agent network, which is a decentralized network of autonomous agents capable of performing a variety of activities, such as data processing and complicated financial modeling.

In addition, the project provides a smart wallet with automation and connection with OpenAI’s ChatGPT API. In January 2023, only months after its introduction, the artificial intelligence chatbot topped 100 million users.

Bitget will provide marketing and other essential direction advice to guarantee that the Fetch.ai ecosystem is correctly positioned on the market to capture the attention of the community and possible commercial partners. The listing of Fetch.ai ecosystem tokens or token sales on the Bitget Launchpad platform will also give general assistance for the Fetch.ai ecosystem.

Bitget’s Managing Director, Gracy Chen, remarked:

“We know value when we see it. Fetch.ai already consists of a host of functioning and applicable technological AI solutions that can have a real impact on the way businesses and individuals interact. That is the main reason we have decided to pledge our support to this promising startup and will continue to do so as we identify others in need of assistance from our dedicated fund.”

Because of its harmonic heterogeneity, the Fetch.ai network may operate as an off-chain layer for any other layer-1 network and as an interchain bridge between blockchain networks on the market. The Fetch.ai ecosystem’s core benefit is its capacity to allow modular P2P interactions across numerous services and economic settlements.

The Fetch.ai ecosystem can offer its consumers with a variety of unique software solutions by using its decentralized machine learning algorithms, which are aided by an integrated client library, an indexer for rapid querying, and a CLI tool for contract development and testing.

As Coincu reported, Bitget services will soon be restricted to Hong Kong consumers owing to new regulatory restrictions that go into effect on June 1. To continue trading on the platform, Hong Kong users must move their assets to BitgetX Hong Kong.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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