FET is the native utility token of Fetch.ai, the platform for deploying autonomous AI agents that negotiate and transact on behalf of users. Fetch.ai’s “agents” are software entities that can autonomously access data, make decisions, and execute transactions — from rebalancing DeFi portfolios to negotiating parking spots in smart city networks. The platform runs on Cosmos SDK and uses FET as the gas token for agent interactions. In 2024, Fetch.ai joined SingularityNET and Ocean Protocol in forming the Artificial Superintelligence Alliance (ASI), with a unified ASI token replacing FET, AGIX, and OCEAN.
| Stat | Value |
|---|---|
| Ticker | FET |
| Price | $0.23 |
| Market Cap | $523.81M |
| 24h Change | +2.0% |
| Circulating Supply | 2.26B FET |
| Max Supply | 2.71B FET |
| All-Time High | $3.45 |
| Contract (Ethereum) | 0xaea4...ad85 |
| Contract (Cardano) | e824c0...4554 |
| Contract (Osmosis) | ibc/5D...4447 |
| Contract (Binance Smart Chain) | 0x031b...fa7f |
How It Works
Autonomous Economic Agents (AEAs):
Fetch.ai agents are software programs with economic intention — they can register services, discover other agents, negotiate terms, and execute transactions without human intervention. AEAs communicate via the Agent Communication Network (ACN).
Use cases deployed:
- DeFi automation: agents that rebalance portfolios, execute arbitrage, manage yield
- Travel and transport: automated booking agents, parking negotiation
- Energy markets: agents that buy/sell renewable energy in peer-to-peer grids
- Supply chain: agents that negotiate shipping terms and delivery slots
Fetch.ai chain:
The native Fetch.ai blockchain (migrated to Cosmos SDK) handles agent registration, smart contract execution for agent agreements, and FET transactions. IBC-compatible with the broader Cosmos ecosystem.
ASI Alliance (2024):
Fetch.ai, SingularityNET (AGIX), and Ocean Protocol (OCEAN) merged their tokens into a single ASI (Artificial Superintelligence Alliance) token at a fixed exchange rate. FET was the dominant token (and ASI token absorbed FET the token identity). The merger valued the combined ecosystem at billions.
Tokenomics
| Parameter | Value |
|---|---|
| Max supply (FET era) | ~1.15 billion FET |
| Inflation | Decreasing rewards to validators/stakers |
| Merge ratio | 1 FET = 1 ASI (post-merge) |
| AGIX ratio | 0.4333 AGIX = 1 ASI |
| OCEAN ratio | 0.4333 OCEAN = 1 ASI |
Use Cases
- Agent execution gas — FET/ASI used as gas for autonomous agent interactions on the network
- Staking — Secure the Fetch.ai blockchain by delegating to validators
- AI service payment — Access AI models and data services within the Fetch.ai ecosystem
- Governance — Token holders vote on protocol evolution
History
- 2017 — Fetch.ai founded in Cambridge, UK by Humayun Sheikh, Toby Simpson, and Thomas Hain
- 2019 — FET token launches through a Binance Launchpad IEO; raises $6M in 22 seconds — one of the first successful IEOs
- 2021 — Fetch.ai mainnet upgrade; DeFi agent products launched; FET listed on major exchanges
- 2022–2023 — AI boom drives interest in crypto-native AI projects; FET among the top performers in the AI narrative
- Jul 2024 — Fetch.ai, SingularityNET, and Ocean Protocol complete token merger into Artificial Superintelligence Alliance (ASI); FET transitions to ASI
Common Misconceptions
“Fetch.ai is just another AI hype token.” Fetch.ai has deployed production systems (in energy grids, travel, and DeFi automation) since before the AI crypto narrative. The underlying agent framework has real technical depth.
“FET is dead after the ASI merge.” FET became ASI — the token continues under a different name with broader coalition backing. FET holders received ASI 1:1.