Humayun Sheikh, Toby Simpson, and Thomas Hain together launched Fetch.ai in 2018 as a machine learning platform that leverages the potential of open, decentralized infrastructure and token economy. The platform seeks to help organizations to use intelligent data sharing, AI, and machine learning to improve business models and processes across a wide range of industrial sectors. It is doing so by creating a network of autonomous economic agents that can learn, adapt, and suggest solutions to complex problems. FET is the utility token of Fetch.ai, and it is the base currency for all transactions within the ecosystem. On Dec. 18, 2020, the price of one FET is $0.0630 per coin and its market capitalization is more than $47 million. FET has a circulating supply of 746.1 million and a maximum supply of approximately 1.153 billion.
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