Apr 27, 2023

Bitget Pledges $10M for Fetch.ai Ecosystem Development

Bitget, the world’s eighth-largest crypto spot exchange, has announced a $10 million pledge to the development of the Fetch.ai ecosystem. The Seychelles-based exchange serves over 8 million users in more than 100 countries and regions, and reported a daily transaction volume of $990 million.

The investment is in line with the recent AI hype generated by ChatGBPT, which Bitget believes will open up a range of possibilities to enhance human productivity and creativity. As part of the partnership, the exchange will provide Fetch.ai with consultancy services to help the AI infrastructure provider expand its business partnerships.

Fetch.ai is an open-source platform that enables the development of autonomous services. Its core product is the AI agent network, a decentralized network of autonomous agents that can carry out various tasks such as data analysis and complex financial modeling. The project also provides a smart wallet that integrates with OpenAI’s ChatGPT API.

In January 2023, the artificial intelligence chatbot surpassed 100 million users, just months after launch.

On April 20, Bitget obtained a regulatory license to provide services in Lithuania. The company also invested $30 million into multi-chain wallet provider BitKeep, becoming its controlling shareholder.

The AI space is rapidly expanding, with Binance recently integrating ChatGPT into its Web3 academy and offering a $3M OKX airdrop with one-hour due diligence on 3AC.

With Bitget’s investment, Fetch.ai will be able to further develop its AI technology and create new opportunities for NFT marketing and promotion. As the NFT market continues to grow, Fetch.ai’s AI-powered network could play a key role in helping businesses and individuals to sell NFTs.

The platform could also enable users to create automated marketing campaigns and strategies, allowing them to better target potential buyers. Additionally, Fetch.ai’s AI agents could help businesses to better understand their audiences and create more tailored content.

Bitget’s investment in the Fetch.ai ecosystem is a testament to the potential of the AI technology and its applications in the web3 space. With the AI infrastructure provider set to benefit from the exchange’s expertise, the partnership could help to revolutionize the NFT marketing and promotion industry.

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