Fetch.AI will hold an initial coin offering (ICO) for its Fetch.AI token (FET) on the Launchpad platform of Binance on 25 February, a press release reports on 1 February.
After the success of the BitTorrent (BTT) ICO on the Binance Launchpad platform last week, the Fetch.AI token will follow. The BitTorrent tokens were sold out within a few minutes and the CEO of cryptocurrency exchange Binance, Changpeng Zhao, called the demand for the tokens “astronomically large”. BitTorrent was acquired by TRON last year.
The Fetch project is a combination of blockchain technology and artificial intelligence (AI). The network uses autonomous agents that can carry out decentralized transactions themselves. For a more detailed explanation, you can read the exclusive interview of Crypto Insiders with the CTO of Fetch.AI, Toby Simpson.
The CEO of Fetch.AI, Humayun Sheikh, says in the press release:
Today’s Internet is built for e-commerce solutions, but the new web should enable more autonomous solutions and it is necessary to build infrastructure and tools. Fetch.AI builds the implementation infrastructure that will bring the new AI-based autonomous machine economy to life.
The Fetch.AI ICO at Binance will start on February 25 at 15.00 (GMT + 1). There will be 1,152,997,575 FET tokens available in exchange for Binance’s own token Binance Coin (BNB). The price has yet to be determined.
Although ICOs had a bad year in 2018 due to the continuing bear market, after the success of BitTorrent token sales seems to be changing. Whether the Fetch.AI ICO will experience a similar success is still the question.