Fetch.ai boosted by MEXC Global $150m fund with Huobi and Bybit
Cryptocurrency trading platform MEXC Global is to create an investment fund of $150 million, together with Huobi Global and Bybit, to support the ecosystem growth of Fetch.ai – a Cambridge-based artificial intelligence lab building an open-access decentralised machine learning network.
Known as a prestigious AI and machine learning-based blockchain platform, the Fetch.ai network is building its ecosystem with the goal of being a competitive public chain for professional developers to build upon it.
The Fetch.ai blockchain is an interchain protocol, based on the Cosmos-SDK, and uses a high-performance WASM-based smart contract language (Cosmwasm) to allow advanced cryptography and machine learning logic to be implemented on and off-chain. Fetch.ai is a layer-1 chain that can act as a layer-2 network for legacy blockchain networks and as an interchain bridge to the outside world. Developers within the cosmos ecosystem or on Ethereum can use the tool kits provided by Fetch.ai and scale easily.
As an autonomous machine-to-machine ecosystem, Fetch.ai’s Digital Twins (formerly known as Autonomous Economic Agents) work as a network and interact with each other directly via the Digital Twin Communication Network. With reinforced strengths coming from blockchain, automation and artificial intelligence, the network can be a strong engine to drive applications in DeFi, mobility, supply chain, manufacturing, and many more areas into the next level and to make our life easier.
Fetch.ai is now inviting talented crypto and blockchain developers from the Cosmos and Ethereum ecosystem to build on the Fetch.ai chain and explore more possibilities in its fast-growing ecosystem.
Humayun Sheikh, CEO and founder of Fetch.ai said he was excited to partner with MEXC, Huobi and ByBit on the expansive developer initiative.
“As a project, we are now ready for Fetch.ai’s technology to be available for developers to deploy on any chain out there and provide cross-chain interaction and tools to build much more sophisticated logic using Fetch.ai’s technology,” he said.
“The timing is perfect for Fetch.ai to scale and to enable other projects to deploy new and interesting business models for the decentralised economy.”
Katherine Deng, VP of MEXC Global and the founder of MEXC Pioneer said the company was drawn to Fetch.ai’s deep background in AI and machine learning, and impressive level of expertise.
“Now the team welcomes more developers to build the ecosystem, and provides developers with state-of-the-art on-chain tools and services to make growth happen,” she said.
“We are happy to work closely with these great talents, and be a major contributor to the quickly growing ecosystem.”