So what is FETCH.AI?
Fetch.ai is an artificial intelligence lab, building an open access decentralized network based on machine learning. The network describes itself as artificial intelligence for blockchains. The platform was founded in 2017 and launched via IEO on Binance in 2019. The Fetch.AI mainnet was launched in January of 2020.
The network has a native token (FET) and an ERC-20 token. FET acts as the native crypto asset and primary currency of exchange on the platform and is required for all network exchanges, including access to services, data, infrastructure, and data processing, including AI and ML algorithms. It is also used as a refundable method of registering with the network, for staking purposes, and as a way to deliver value back to users who perform work within the network. Anyone can build and deploy an agent on the network and use the FET token as a medium of exchange on the Open Economic Framework.