Fetch.ai Partners with Bosch to Advance Web3 – FET Surges
German giant Bosch and the AI-focused protocol Fetch.ai have announced a partnership to establish the Fetch.ai Foundation.
The Fetch.ai Foundation will focus on the research and development of Web3, the third generation of the internet built on blockchain technology with tangible real-world applications. The project will be organized into three tiers, drawing inspiration from the decentralized innovation model of the Linux Foundation.
Under the agreement, Bosch and Fetch.ai will co-lead the new platform and work to extend connections with other major industry players. Fetch.ai founder Humayun Sheikh commented:
We are thrilled to announce that @Fetch_ai, in collaboration with our partner @BoschGlobal, are forming a new https://t.co/kJ9URVpOul Foundation to boost development of #industrial applications based on #AI and #Web3 technologies!
— Fetch.ai (@Fetch_ai) February 21, 2023
👉 https://t.co/w1JDSrG2lo pic.twitter.com/AuL6S1RuSL
“Bosch will help us universalize Web3 across the industry and encourage other companies to join this journey. Many applications will provide new business opportunities for existing tech professionals within the Fetch.ai ecosystem.”
The partnership between Fetch.ai and Bosch comes at a time when the crypto market is increasingly focused on artificial intelligence. Following the announcement, Fetch.ai's FET token experienced a significant surge, approaching $0.50 before retracing to its current levels.
FET/USDT 15-minute Chart on Binance at 09:40 PM, February 21, 2023
However, according to CryptoSlate data, searches for the term "AI token" have been declining over the past week, despite earlier dominance in Google Trends, as previously reported by Coin68.
