What is Fetch.ai? An open decentralized AI platform ushering in a new era

What is Fetch.ai? It is an open-source, decentralized platform that allows anyone to build, deploy, and profit from artificial intelligence (AI) applications. Unlike current centralized AI systems, Fetch.ai empowers developers through open infrastructure and accessible application programming interfaces (APIs). Fetch.ai and similar platforms are trying to address an increasingly urgent issue: the concentration of AI power in the hands of a few large tech corporations.

From Concept to Practice: Fetch.ai Redefines Decentralized AI

Founded in 2017 by three pioneers—Humayun Sheikh (currently CEO), Toby Simpson (former CEO and advisory board member), and Thomas Hain (Chief Science Officer from 2017 to 2023)—Fetch.ai officially launched in 2019 in Cambridge, UK, with the goal of combining blockchain technology with AI and machine learning capabilities.

In its early years, Fetch.ai successfully raised funds: $7.05 million in a private sale in September 2018, followed by $6 million through an IEO (Initial Exchange Offering) in March 2019. The FET token was initially issued as an ERC-20 token on the Ethereum network. A major milestone occurred in February 2022 when Fetch.ai launched its own mainnet, making FET the native token of this blockchain.

2023 marked a period of rapid growth, with DWF Labs investing $40 million into the project, valuing Fetch.ai at $250 million. This figure reflects growing investor confidence in the potential of decentralized AI agents.

Platform Architecture: Three Main Components Powering Fetch.ai

Fetch.ai is built on a Layer-1 blockchain using Cosmos SDK and WASM programming language. The system operates based on three tightly integrated components:

Agents are intelligent tools capable of communicating with each other or with external applications. These agents use AI to automate and optimize complex tasks. Developers can create autonomous agents or connect multiple agents to expand functionality. During development, these agents can be kept private or made public as needed.

Agentverse functions as a cloud-based platform for deploying and managing agents. Since AI applications often require expensive hardware, Agentverse helps users operate agents without large infrastructure investments. It also lists public agents, making it easy for users to discover and find tools suited to their needs.

AI Engine is a large language model (LLM) capable of understanding user requests and performing corresponding actions. When given a task, the AI Engine uses Agentverse to identify the most suitable agents. It can route requests to a single agent or coordinate multiple agents simultaneously if necessary.

The platform’s Collective Learning (CoLearn) model allows AI agents to learn from each other, creating a fairer system where everyone has the opportunity to develop and contribute.

Practical Applications and Global Partner Ecosystem

Fetch.ai has demonstrated its potential through various real-world applications. Resonate.social is a decentralized social network using AI to eliminate harmful content, while AXIM provides an AI-based data processing platform enabling users to analyze their own datasets.

In healthcare, Fetch.ai’s models have been used during the COVID-19 pandemic to detect diseases via X-ray analysis with up to 90% accuracy. The project has also partnered with the Poznan Supercomputing and Networking Center (PSNC) to develop early cancer detection technology.

Fetch.ai’s strategic partnerships reflect its position within the broader Web3 ecosystem. Bosch, a global industrial conglomerate, collaborates with Fetch.ai Foundation to explore AI-Web3 applications that can streamline industrial processes and reduce costs. Deutsche Telekom, Europe’s largest telecom provider, through its subsidiary MMS, has become a network validator for Fetch.ai, demonstrating trust in the platform’s reliability.

Partnerships with IOTA, a decentralized IoT platform, open new possibilities. The two projects combine Fetch.ai’s capabilities with IOTA’s IoT data infrastructure, allowing users to profit from IoT data in a privacy-preserving manner. Fetch.ai’s agents can access this rich data repository for IoT-related applications.

Strengths and Challenges of Fetch.ai

Fetch.ai’s key strength lies in democratizing access to AI. Anyone can create and deploy AI applications without complex registration or deep technical knowledge. While most major AI solutions are controlled by a few large companies with substantial resources, Fetch.ai offers an open, transparent, and decentralized alternative that resists censorship.

Its AI agents can automate complex tasks that are difficult for humans to handle, and the collaboration among agents unlocks untapped potential.

However, Fetch.ai faces certain limitations. Despite aiming to simplify AI for everyone, the platform still requires some foundational knowledge. Creating custom AI agents involves programming skills. Additionally, although it has been operational for some time, real-world use cases are still limited compared to its theoretical potential.

Like the entire crypto industry, Fetch.ai must also adapt to increasingly complex legal environments and evolving regulatory challenges.

FET Token: Economics and Investment Opportunities

FET is the native utility token of Fetch.ai, serving as the primary medium of exchange on the platform. It is used to pay network fees, deploy AI models, and access various services.

Economically, FET has a diverse distribution structure. Initially, 40% of circulating tokens were allocated to the Fetch.ai Foundation and founders, 17.6% were sold through token sales, 22.4% reserved for future issuance and mining, and 10% allocated to advisors.

As of February 2026, the FET market shows positive signs with supply adjustments. Circulating supply is approximately 2.28 billion tokens, with a total supply of 2.71 billion and a maximum supply of 2.72 billion. Recently, FET traded at around $0.16, with a 24-hour price change of -3.09%. The 24-hour trading volume is approximately $377,630, indicating steady trading activity. Its current market capitalization is about $358 million.

Fetch.ai operates on a Proof-of-Stake (PoS) mechanism, allowing users to stake FET tokens to secure the network and earn rewards. Validators also participate in protocol governance, creating a truly decentralized system.

Getting Started with Fetch.ai: How to Own FET

Since Fetch.ai has many real-world applications, FET is listed on most major exchanges. To buy FET, users can choose from various platforms. The general process includes:

First, create an account on the chosen exchange and complete verification. Next, deposit USDT or other stablecoins into your account. Then, go to the spot trading section and search for the FET/USDT trading pair. You can place a limit order if you want to wait for a specific price, or a market order to buy immediately at the current price.

For mobile traders, most major exchanges offer dedicated apps. The process is similar, with interfaces optimized for smaller screens. After executing the trade, FET will be transferred to your wallet.

Conclusion: The Future of Decentralized AI

Artificial intelligence is becoming an integral part of most industries. However, the trend toward centralization is increasingly evident—training and maintaining custom models are costly, leading to concentrated power among a few large corporations. This creates inequality for smaller companies and individuals capable of innovation.

Fetch.ai represents a new wave: a decentralized AI platform that lowers barriers to entry and provides developers with the tools to build their own applications. Initiatives like Fetch.ai, along with Bittensor and similar platforms, are reshaping how we think about AI—not as proprietary technology, but as an open, accessible tool for everyone.

Its autonomous AI agents are particularly promising—these assistants can collaborate to understand and accomplish real-world tasks, expanding possibilities far beyond what traditional centralized systems can achieve.