Fetch.ai revolutionizes the NFT market with AI-powered platform

The company Fetch AI has announced its intentions to launch an NFT marketplace based on the use of artificial intelligence, thanks to a collaboration with Azoya Labs.

Over the last few months we have been able to observe the exponential progress that the field of artificial intelligence is experiencing, being applicable to thousands of real life areas.

On the other hand, at a quite similar growth rate are non-fungible tokens, thanks to all the features we already know. In this regard, we have already been able to see a number of cases where the application of AI is combined with NFTs.

On the one hand, we have seen Binance’s initiative aimed at the creation of customized and unique NFTs using AI with its new service called Bicasso, as we have discussed in the note made from NFTexpress in March of this year.

On the other hand, we have another antecedent related to this subject with the note note we made about Alethea AI, which is an AI company that uses blockchain to create optimized services for the interaction of people with AI. On that occasion, it was about the launch of interactive NFTs through AI on Polygon.

On this occasion, from the British startup Fetch.ai have shared a new proposal aimed at improving the blockchain NFT ecosystem, through a new methodology. This proposal consists of funding an NFT marketplace that focuses on the artificial intelligence of the Fetch.ai network.

To this end, they have shared a survey for all users interested in completing it, referring to the approval of the proposal launched by the team at AzoyaLabs teamteam, regarding the financing of a community pool for the development of the NFT marketplace.

AzoyaLabs is a partner of Fetch.ai, which has been supporting and collaborating with Fetch.ai in the development of FetchStation. On this occasion, they have proposed the allocation of community funds to achieve the development of the NFT marketplace with AI implementation.

In the event that the proposal is approved, we can mention as a first positive consequence a great impact on the NFT ecosystem, which would contribute to greater adoption, higher volume of exchange of digital collectibles, among others.

More about Fetch.ai

From the company’s side, they intend to create services that can leverage the benefits of generative AI, and then be able to convert the results of the applications into transactions.

Currently, its platform uses blockchain and has its own token named $FET. In the following links we can see their official website official website, its source code from his github profile which is open source, his whitepaper explaining its business model, tokenomics, etc.

As of this writing, its token has a value of $0.41 per unit, and a market capitalization of almost $350 million dollars. In turn, it is audited by two companies, Certik y SlowMist.

Written by Luciano Garriga (Tw: luchogarriga) for NFT Express.

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