Tech
Fetch.AI invests $100 million in AI blockchain technology and introduces rewards for token holders
Recover.AIan AI-related blockchain network, has unveiled plans to deploy cutting-edge graphics processing units (GPUs) and introduce rewards for FET holders following a recent $100 million infrastructure investment, according to a statement from March 5 shared with CryptoSlate.
$100 million infrastructure development fund
The AI platform revealed that it has secured $100 million in infrastructure development funding to launch Fetch Compute.
Fetch Compute will leverage Nvidia H200, H100 and A100 GPUs, creating a robust platform for developers and users to leverage computing power effectively. This initiative aims to catalyze innovation within the blockchain network ecosystem by facilitating the exploration of complex models and solutions.
Funding for this strategic implementation comes from the Fetch Ecosystem Fund and demonstrates the network’s proactive approach to addressing GPU shortage and empower developers.
Humayun Sheikh, CEO of Fetch.ai, said:
“Fetch Compute is not just an infrastructure investment; it is an investment in the future of artificial intelligence and the ecosystem of innovative developers who are pushing the boundaries of what is possible with our platform.”
Reward FET holders
Fetch.ai is set to launch a new reward system alongside the launch of Fetch Compute, aiming to benefit FET holders.
Starting March 7, FET holders will have the opportunity to earn Fetch calculation credits. These credits allow them to cover GPU usage fees, granting access to the scarce computational resources of the Fetch decentralized computing network. Additionally, FET can also be used to pay for computing usage.
The project team said that this development marks a significant step forward for creators engaged in resource-intensive decentralized AI initiatives. Sheikh added:
“By combining significant computing resources with our unique computing credit system, we ensure that our community has the support and tools needed to bring their visionary AI projects to life.”
FET is the fourth largest Token related to artificial intelligence, according to data from CryptoSlate. Over the past month, its value has increased by more than 240%. relationships of financial problems. However, the project vehemently refutes such claims.