Fetch.AI [FET] Price Predictions: Technology, Roadmap, Market, and Adaption

FET is still showing risking framing segments for the past few days; the coin might have solid fundamentals, but we don’t think it would be a profitable asset in the short term. However, the price prediction of the FET token for the upcoming years is bullish, meaning that it has long-term earning potential and can be considered a profitable long-term investment.

Price Action in 2021

As per historical data, FET has given a +534.84% return in one year. However, Fetch.ai price can vary based on market conditions and one should always do a thorough research before investing. We advice joining FET community on Telegram and purchasing it on Binance, Coinbase or KuCoin.

According to CoinMarketCap’s latest data, as of 09/01/2022, the current price of Fetch.ai is $0.46 and is currently ranked #152 in the entire crypto ecosystem. The circulation supply of Fetch.ai is 746,113,681, with a market cap of $345,188,934. In the past 24 hours, crypto has decreased by 4.11% in its current value. If we compare the current market cap of the FET with yesterday’s, you can see that the market cap is also down. Fetch.ai is facing a hard time getting on board with other crypto coins. The FET is down to almost -16.1% in the last seven days.


Figure 1: Summary of FET Token
Table of Contents

    Introduction


    Decentralized computation models, like blockchain, Machine Learning (ML) and Artificial Intelligence (AI), can be combined to leverage benefits from both technologies. Understanding this great potential, Fetch.AI was launched in 2017 by a team based in Cambridge, UK. Fetch.AI is a project that aims to harvest the power of decentralized AI to build decentralized networks by connecting Internet of Things (IoT) devices and algorithms to enable collective learning, data sharing, and autonomous decision-making based on acquired knowledge—for example, building a decentralized AI-powered network of IoT devices for solving optimization problems in mobility like a package or people delivery.

    Fetch.AI is powered by a high-throughput shared distributed ledger (blockchain). It also offers the capabilities of smart contracts for deploying ML and AI solutions for decentralized problem-solving. It further provides open-source tools that facilitate users in creating ecosystem infrastructure and deployment of commercial models. The main aim is the seamless sharing of knowledge (data) between the connected devices to provide the best solutions by co-learning on an infrastructure that combines blockchain, artificial intelligence, and multi-agent systems.

    The ecosystem of open access tokenized decentralized machine learning networks for smart infrastructure includes multi-agent systems, machine learning, and cryptography to facilitate a decentralized digital economy.

    The main partners of Fetch.AI include a list of up to 21 different companies, like BOSCH and other German manufacturing and technology companies, working with Fetch.AI to launch a fully-functional blockchain network V2.0 Mainnet. Other major partners include the ‘Festo’ team, which works with the Fetch.AI team to launch a decentralized manufacturing marketplace.

    Catena-X, Telekom Innovation Laboratories, Fireblocks, YOTI, Blockchain For Europe, etc., are other main partners of the ecosystem. Fetch.AI has also partnered with OpenDAO and OCP.

    Another major partner of Fetch.AI is Binance. The holders of FET tokens on the Binance Smart Chain (BSC) can use them for staking and the exchange of OMNIC token (a utility token of OmniCOMP, which is a money market built on BSC), Minting USDO stable coin.

    Figure 7: Summary of Signals of FET coin

    Project Overview


    What is Fetch.AI? Fetch.AI is an innovative platform that connects internet of things devices and algorithms for collective learning. It is built on a high throughput shared ledger. The architecture of Fetch.AI delivers unique smart contract capability that can deploy machine learning or artificial intelligence solutions, which helps in decentralized problem-solving.

    Fetch.AI is a decentralized digital representation of the real world in which autonomous software agents perform practical economic work. Autonomous agents can perform varied tasks, e.g., delivering data or providing services. The agents are rewarded with the native digital currency in return for their services, namely the Fetch.AI Token. These autonomous agents can view the space they inhabit in multiple practical dimensions, such as geography, safety, decision points, and other economic factors.

    The Fetch.AI protocol and network can be thought of as connecting agents with value to other agents that need or might need that value. While ensuring seamless interfacing into the real world, the Fetch.AI protocol and network can be considered the search-and-discovery mechanism for digital entities that allows intelligent autonomous agents to find each other effectively.

    The project aims to provide a new and economical Internet for the machine-to-machine economy and do so by removing friction and acting as a disintermediation mechanism for increasing efficiency and utilization.

    What are agents? In the theFetch.AI network, agents are digital entities that represent things like data, services, hardware, humans, or infrastructure segments. Through AI and ML, these agents are intelligent to make decisions on their behalf and on behalf of their stakeholders. Stakeholders can be, for example, individuals, private enterprises, and governments. 

    Technology Powering Fetch.ai: The technology involved in Fetch.Ai is mainly driven by the aim of building a completely autonomous agent-based digital machine-to-machine economy. This digital economy utilizes a generic framework for building off-chain protocols using multi-agent systems and novel blockchain techniques. The agent framework can be used for oracles, inter-chain transfers, state channels and is tightly integrated with the Fetch ledger—developer Docs.

    Technology Stack: The technology stack of Fetch.AI is based on principles derived from decentralized multiple agents/parties striving to achieve a common goal. The stack included multiple distinct parts and an Agent framework. The Agent framework provides modular and reusable components for building multi-agent systems. Open Economic Framework (OEF) offers different tools for peer-to-peer networking. The Agent metropolis component is a collection of smart contracts run on a WASM. The last and most crucial component is the Fetch.ai blockchain.

    Mainnet and Consensus Algorithm: Fetch.AI has developed an Open Economic Framework (OEF), which exposes its digital world to the agents. Fetch.AI is powered by a unique smart ledger technology to provide high performance and low-cost transactions. Initially, the distributed ledger used the proof-of-work (µPoW®) to build market intelligence and trust over time. The network’s value grows through its usage.

    However, the Fetch.ai v2.0 ledger used on the mainnet is built using the Cosmos-SDK. It inherits many of its features from the Cosmos ecosystem, like Proof-of-Stake and Tendermint consensus protocol (with several differences and improvements). It is characterized by a decentralized random beacon for selecting block-producing nodes.

    The Fetch.ai Mainnet has been live since January 2020. Mainnet supports several features like staking, governance, and identity, which are used to deploy agent applications. The Fetch V2.0 ledger and blockchain, used for inter-chain communication, is based on Cosmos SDK. The consensus algorithm is based on Cosmos Tendermint’s implementation and is differentiated by a decentralized random beacon for selecting block-producing nodes.

    Multi-signature and a PoS consensus slot are used to reduce the storage cost and speed up the synchronization. These techniques help reduce the computational issues and protect the validators from loss. Furthermore, the Fetch.AI has an agent registry component that helps build the agents at a much higher pace. The agent framework is a development suite in Python.

    Fetch.ai’s smart ledger comprises two major components –smart contracts and data for decisions and predictions. The contract is stored on the ledger, whereas the data is maintained using a directed acyclic graph (DAG). Smart ledger programs are specifically designed to deliver tests, advanced coordination, and prediction.

    Key Takeaway

    Fetch.AI aims to build a digital machine-to-machine economy, that will be agent-based (digital entities on FET. They can be humans, services or data). Transactions on FET blockchain are cheap and it has an open economic framework that exposes its digital economy to its agents. Fetch.AI is PoW (Proof-of-Work) but for its mainnet it also relies on Cosmos ecosystem which is PoS (Proof-of-Stake).

    Building New Opportunities: Fetch.AI aims to take advantage of the old economy whilst building the new one by neatly interfacing it into existing systems with minimal effort. Furthermore, new information markets can spontaneously be created bottom-up by plugging existing data into Fetch.AI. The goal is to build new industries by deploying Autonomous Economic Agents in places where there live opportunities to replace human intermediaries with trusted digital agents. Doing so, Fetch.AI aims to make the previously unprofitable dataset valuable and usable. GitHub Repo.

    In Fetch.AI’s decentralized network, autonomous agents continuously forward their value (i.e., data) to other agents who need it or who might need it. The agents are made part of a digital world through the Open Economic Framework (OEF) to grow on its value (data). Over time, the network becomes capable of providing high-speed and high-reliability transactions because of the unparalleled guidance gained from collective intelligence. This expanding computational power enables all the agents to gain new insights and understanding from their data.

    The extensive integration of machine learning technology throughout the system, from the ledger to the agents themselves, establishes a network that enables, encourages, and deploys intelligence, with the creation of new knowledge actively. To make the deployment of agents easier, Fetch.AI provides the necessary node structure, the OEF API, and agent Development Toolkits.

    Applications of Fetch.AI: Fetch.AI is a project that aims to bring data to life and increase its usage through automated data sharing and node exploration. The goal is to enable data to sell itself, i.e., enable it to make any task as easy as possible by taking advantage of any opportunity of exploiting itself in any marketplace or environment that is constantly reorganizing.

    To achieve this goal, the IoT devices used by the Fetch.Ai agents are designed to increase data utilization by taking advantage of opportunities where they can sell the information they possess to other information service markets. This sharing can be done in the novel and existing ways. E.g., an agent in a vehicle can provide weather and road conditions by simply relaying the activity of its windscreen wiper and washer activity. 

    It further creates a large population of digital data analysts and sales agents that can work together, alone, or with human or corporate masters and help reduce costs for delivering complex solutions in our daily lives. 

    Key Takeaway

    Fetch.AI aims at automating limitless economic activities and markets that require too much human intervention. By providing ease of exploration to the agents and the ability to serve as representatives for data, hardware, and services, Fetch.AI provides a better-coordinated delivery of high or even loosely connected services such as transport and insurance.

    Use-Cases Overview


    Some of the use cases that are the prime focus of Fetch.AI to provide optimal usage and benefits are included below:

    • Autonomous AI Travel Agents: Through the automation of travel agents, it is possible to establish a direct connection between consumer and provider helping in reducing the role and cost of intermediaries, centralized aggregators, and services. Fetch.Ai ensures that the customer’s privacy for their sensitive data is maintained.
    • Delivery Agents: Fetch.Ai has established a decentralized delivery network (DDN) that aims to provide infrastructure for delivering commodities globally. The DDN is built by extensively connecting supply chain networks, agents, autonomous vehicles, delivery networks, and UK train infrastructure. 
    • Smart Cities Field Trial: With the help of multi-agent blockchain-based AI digitization services, Fetch.ai provides mobility solutions to real estate properties. The AI-based agents can help by notifying about the available parking lots, calculating the parking charge, and helping in the easy processing of the parking fees. Henceforth, helping the users by reducing their effort to search for parking lots, waiting time for purchasing parking tokens, and delay in the processing of the payments.
    • Commodity Exchange and Decentralized Finance: These agents help the traders to simplify digitalized trading of steel, base metals, and commodities through the use of tokens. It gains access to a new risk management tool and maintains high-level security on transactions. It also allows hedging between raw materials and finished products.
    • Collective Learning:  Fetch.AI provides a co-learning tool that enables different parties to try their ML model without having to share their underlying data. This can be utilized in sectors where sensitive personal information is used like hospitals. 
    • Signs Agents: These automated traffic agents are trained to help vehicles to search and know the traffic-related information like traffic signals on a specific route/area that the vehicle is intending to travel. These traffic agents provide insightful information to the vehicles about their journey.
    • Supply Chains: The automated supply chain agents intend to help in planning, gain better knowledge about the partnership firms, and analyze the future patterns. These further have the capability to predict in advance disruptions months.

    Roadmap for 2022


    FET is the native cryptocurrency of the Fetch.ai ecosystem. FET tokens are utilized to use all the services and facilities provided over the Fetch.ai network. As per the official documentation, a total of 1,152,997,575 FET tokens were initially generated. FET token is primarily used for the following tasks in the Fetch.ai ecosystem:

    1. It acts like an access deposit token used for connecting different agents and nodes to the network.
    2. Even though there is a hard cap on the total supply of the FET tokens, however, the FET tokens are made infinitely divisible. These are used for exchange and acquiring of data between two agents regardless of where of their location.
    3. FET tokens are used for facilitating access to the digital world and services provided by Fetch.ai.
    4. FET is also used for accessing and developing a wide range of ML and AI algorithms that are ledger-based.
    5. Participate in staking to validate network services. Validation nodes are enabled by staking FET tokens. This facilitates network validation and reputation.
    6. Operational costs (like ‘gas fees’ in Ethereum) in Fetch.ai are decoupled from the FET. Fetch.AI’s operational fuel allows access to processor time for contract execution and services for agents

    All the services and provision to buy token is available on the Fetch.ai official website.

    Token Allocation & Distribution


    Token Distribution Chart of Fetch.AI

    Where can I purchase the FET token from?


    The top cryptocurrency exchanges in Fetch.AI stock are currently Binance, HitBTC, KuCoin, Gate.io, and Crypto.com Exchange. Other crypto exchanges where FET can be purchased include Coinbase, BitMax, Coinsuper, Korbit, Wazirx, and MXC.

    Technical Analysis of FET token


    As per Messari.io, the FET token has enjoyed a varied response in the market over the past few years since its launch. The current price, as of 08/01/2022, is $0.505. s per the official docs, the total supply of the FET token is 1.2B. Whereas the current circulating supply on 12/31/2021 is 746,113,681. The total trading volume in 24 hours is $45,906,592.16. At the same time, the total market cap is $387M

    Figure 2: Summary of Price of FET coin from release till Jan ’22
    Figure 3: FET token price chart for one year
    Figure 5: Monthly ROI on FET
    Figure 6: Circulating Supply of FET token

    After its crash from the all-time high of $1.50, the coin has been predominantly bearish.

    Figure 8: Average IEO Returns by Exchange Platforms

    Social Media Stats/Signals


    Ranking of Fetch.AI


    According to Messari.io, Fetch.ai ranks number 1 among its peers in the AI category. FET ranks 162 in all asset categories and 20th in the Web3 category.

    Fetch.AI ranked according to Messari.io.

    Fetch.ai vs its Competitor: One of the primary competitors of Fetch.ai is the SingularNet project. Below is a comparison of the two projects.

    Figure 9: comparison between fetch.ai and singular.net

    FET Price Prediction 


    Below we provide a breakdown of the price prediction for the FET token as provided by PricePrediction.  

    Last 90 days Price Performance: Within the last one month, the price of FET has decreased by -45.242%. It moves a substantial average sum of $0.38 from its current value. T sudden down means that the coin is in a dip right now, meaning that it can be a good buy opportunity for quick investment. T e 90 days price change is around 0.18% and the price circulated from a minimum average price of $0.46 to a maximum average price of $0.54 in the past 90 days.

    Four Months Price Performance: There has been a growing trend in the FET coin’s price in the last four months. T is increased because of the popularity of similar kinds of projects in the market during this period. According to PricePrediction’s latest data, the trading volume of Fetch.ai has shown an increase in the last four months. The trading volume constitutes a vital role in its price. The coin is up by 22.43%, with the maximum average price being around $0.26 and the minimum average price of was about $0.22 in the past four months.

    5 Year Price Prediction


    The average price of Fetch.ai (FET) might go to $0.77 by the end of this year. We estimate the five-year plan; it is estimated that the coin will easily reach the $3.23 mark. Fetch.ai has an outstanding potential to reach new heights in terms of price. It is forecast that FET will increase in value. According to specific experts and business analysts, Fetch.ai can hit the highest price of $21.72 by 2030.

    Price Prediction 2022: According to PricePrediction’s technical analysis on past price data of FET, in 2022, the price of Fetch.ai is predicted to reach a minimum level of $0.75. T e FET price can reach a maximum level of $0.88 with an average trading price of $0.77. 

    Price Prediction 2023: According to PricePrediction, the price of Fetch.ai is predicted to reach a minimum level of $1.09 in 2023. T e Fetch.ai price can reach a maximum level of $1.29 with an average price of $1.12 throughout 2023. 

    Price Prediction for 2024-2025: According to PricePrediction’s forecast price and technical analysis, In 2024, the price of Fetch.ai is predicted to reach a minimum level of $1.55. The FET price can reach a maximum of $1.86 with an average trading price of $1.61. 

    The price of 1 Fetch.ai is expected to reach a minimum level of $2.18 in 2025. The FET price can reach a maximum level of $2.71 with an average of $2.24 throughout 2025.  

    Price Prediction 2026: Fetch.ai price is forecast to reach the lowest possible level of $3.14 in 2026. As per our findings, the FET price could reach a maximum possible level of $3.72 with the average forecast price of $3.23.

    Price Prediction 2027: According to PricePrediction’s technical analysis on past price data of FET, in 2027, the price of Fetch.ai is forecasted to be at around a minimum value of $4.21. T e Fetch.ai’s price value can reach a maximum of $5.35 with an average trading value of $4.34 in USD. 

    Price Prediction 2028: The price of Fetch.ai is predicted to reach a minimum value of $6.09 in 2028. T e Fetch.ai price could reach a maximum value of $7.34 with an average trading price of $6.31 throughout 2028. 

    Price Prediction 2029: According to PricePrediction’s forecast and technical analysis, in 2029, the price of Fetch.ai is expected to reach a minimum price value of $8.33. The FET price can reach a maximum price value of $10.30 with an average of $8.65.  

    Price Prediction 2030: The price of Fetch.ai is predicted to reach a minimum value of $11.89 in 2030. T e Fetch.ai price could reach a maximum value of $14.66 with an average trading price of $12.32 throughout 2030.

    Fetch.ai Price Prediction 2031: Fetch.ai price is forecast to reach the lowest possible level of $18.12 in 2031. As per our findings, the FET price could reach a maximum possible level of $20.49 with the average forecast price of $18.61.

    Key Takeaway

    Fetch.AI is a great investment opportunity and considering their progress, roadmap, price action, team, investors and and potential, it is highly-likely for the price to go up. We recommend purchasing FET tokens at: Binance, Coinbase or KuCoin.

    Conclusion


    Fetch.ai (FET) is a project with great potential and is an excellent long term investment. It is partnering with larger companies to expand its network. Ranging from transport to supply chain, fetch.ai is exploring new domains to mark its performance and value.

    The price prediction of the FET token for the upcoming years is bullish, meaning that it has long-term earning potential and can be considered a profitable long-term investment.

    As per historical data, FET has given a +534.84% return in one year. However, like any other crypto, Fetch.Ai FET coin’s price can also vary based on market conditions and therefore, one should always do thorough research before investing.

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