The Fetch-ai network, powered by advanced artificial intelligence and machine learning algorithms, recently joined an additional 40,000 users and is focused on expanding the use of the network.
Fetch-ai . network I reached this milestone right after the announcement of a $150 million development fund, which was through a collaboration with MEXC Global and ByBit. The innovative technology of the Fetch-ai Network, referred to as Independent Economic Agents (AEA), is powered by powerful AI technology and can provide advanced automation in any industry. These solutions may serve the needs of millions of users. Moreover, these proxy-powered systems provide flexibility, speed, and cryptographic security, which is comparable to leading layer 1 solutions.
To advance its goal of expanding its ecosystem of dApps and user base, Fetch-ai Network has included 40,000 unique Get My Slice users. There are also plans in the works to bring in millions of Web3 users.
Fetch-ai helps consumers benefit from Web3 Tech
As stated in the announcement, Fetch-ai Network has committed to supporting a Web3-enabled digital economy where users control their data. Users can also provide consent for others to access their data. Evidenced by its partnerships across the crypto ecosystem, with platforms such as Bosch and Festo, the Fetch-ai network is focused on welcoming many other Web2 services into an interconnected ecosystem of dApps. This new environment prioritizes data privacy and the development of smarter automation technology. As explained in the update, the key to lowering entry barriers for less tech-savvy users is to offer apps that are easy to use.
Replacing Web2 Marketplaces with Web3 Tech Stacks
Get My Slice is one of the leaders in the consumer-centric data market with a unique user base of nearly 40,000 users, they focus on helping consumers take control of and monetize their data. This data can be generated during typical online activities and can be stored securely within the Web3 ecosystem.
The Fetch-ai network is said to help Get My Slice (GMS) transition from a Web 2.0-based Direct Cash Incentive System (FIAT) to a fully digital economy using Web 3.0 technology packages. Currently in development is a custom token based on Fetch-ai network tokens with FET token as the token used to facilitate user transactions and smart contract usage.
Users of the new platform and the Fetch-ai Network community will have access to a dedicated data market powered by Fetch-ai Network tokens. This should encourage the continued development of a more equitable ecosystem for end users, where they can truly own and control their data.
Fetch wallet plays an important role in preparing 40,000 users. As emphasized in the update, the Fetch-ai network team is further optimizing its native wallet, so that it can meet the requirements of users of the Web3 platform.
Kemal Vid, Chief Product Officer, Fetch-ai Network, said:
“We are constantly looking for use cases that take advantage of the core principles of Web 3.0 and give all participants equitable control with nuanced incentivisation. Cases around rewards based on data such as the Get My Slice product showcase can benefit from the use of Fetch-ai’s Web 3.0 suite of technologies. Network of blockchain, agent-based automation, and artificial intelligence to democratize data sharing.”
With a comprehensive roadmap to be revealed soon, Get My Slice has plans to provide a more robust platform for all users. This will require replacing the current Web 2.0-based data market model with a proprietary, transparent, and easy-to-use alternative.
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