How High Up Can $FET Go? Fetch.ai Invests $100M in AI Infrastructure, Offering GPU Rewards to Token Stakers

Key Insights

• Fetch.ai invested $100 million in an initiative called "Fetch Compute" to provide computing power and train users in AI development.
• The program uses Nvidia's top-tier H200, H100, and A100 GPUs for high-performance computing.
• Users who stake Fetch.ai's token ($FET) can earn credits to access the Fetch Compute platform's computing power.
• The CEO believes Fetch Compute will encourage faster development of complex AI solutions within the ecosystem.
• Despite a recent market dip, some analysts forecast a potential rally for $FET, with predictions ranging from $3 to $10.

Fetch.ai has announced a new incentive program that will reward its token-holders with GPU credits for accessing its computing platform.

$FET, Fetch.ai's native cryptocurrency has been reported by several analysts as being one of the best bets for the incoming bull run, and in this article, we will be going over one of the reasons why.

Introducing Fetch.ai Compute

Fetch.ai recently launched the programme they now call "Fetch Compute".

Fetch Compute has so far been seeded with a $100 million initial investment from the company's ecosystem fund, as a way to expand the ecosystem's computing power and to train new developers and users who want to create and deploy new  AI applications on the Fetch.ai network.

Recall that Fetch.ai ($FET) and SingularityNet ($AGIX) led the AI rally with the announcement of Nvidia's highly successful Q4 2024 earnings report.

Fetch Compute and Fetch.ai are set to further this collaboration by using the Nvidia H200, H100, and A100 GPUs, which are some of the most advanced and powerful GPUs in the market.

Combining Nvidia's top-tier chip manufacturing with Fetch.ai's infrastructure is set to create a platform that developers and users can hop on for computing power.

Fetch Compute is also set to offer GPU credits to its users, which they can then use to pay for GPU computing on the platform.

This Is Where $FET Comes In

By staking $FET (the native currency of Fetch.ai), on the Fetch.ai network, users can earn GPU credits.

Users that stake FET will begin to get rewards on 7 March 2024, in the form of Fetch Compute Credits.

These credits can then be used to pay for GPU use and gain access to the Fetch Compute platform.

Moreover, Users will receive varying amounts of Fetch Compute Credits based on how much FET they stake and the availability and demand of GPU resources on the platform.

According to Humayun Sheikh, CEO of Fetch.ai, the Fetch Compute campaign will enable users to explore complex models and solutions, which should quicken the speed of innovation inside the Fetch.ai ecosystem.

He added that Fetch.ai is making sure its community has the resources and support needed to realize their goals, by combining significant resources with the new Compute Credit system.

The Fetch Compute program is significant because it comes at a time of increasing interest in AI tokens in the crypto space.

How Far Up Can FET Go?

According to the charts, FET declined by around 25% along with the rest of the market on Tuesday, from $1.72 to $1.29.

However, the cryptocurrency made one of the most amazing comebacks ever, and is up by around 10% over the last day, with a current price of $1.93.

FET appears to be showing some short-term weakness around the $2 zone, but there have been predictions of an incoming FET rally from anywhere between $3 and even $10 from several analysts who seem to agree about the cryptocurrency's prospects.

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