Fetch.AI ("the Project") brings together machine learning ("ML"), artificial intelligence ("AI"), multi-agent systems and decentralized ledger technology to create an economic internet — an environment where digital representatives of the economy's moving parts (such as data, hardware, services, people and infrastructure) can get useful work done through effective introductions and predictions
Fetch (FET) is the token behind Fetch.ai, a project that lets autonomous AI agents trade data and services with each other without middlemen. Picture a marketplace where the buyers and sellers are software agents — one selling live parking data, another buying it to route your car — and FET is the currency they settle in. In short, it's an attempt to build a machine-to-machine economy on top of a blockchain.
Fetch.ai is built around autonomous economic agents — small programs that act on your behalf: finding deals, selling data from IoT devices, or optimizing energy use. Most blockchains are designed for people sending money to people; Fetch is designed for machines transacting with machines. FET is the fuel of that ecosystem, used to pay for agent services and participate in the network.
Instead of one long chain of blocks, Fetch's original ledger uses a DAG (directed acyclic graph), where transactions can reference several predecessors at once — that allows parallel processing and higher throughput. Security comes from a hybrid of proof-of-stake and proof-of-work: staking adds economic weight, while the PoW component makes the network mineable. In practice, this means FET can be mined, unlike tokens on pure PoS chains.
Yes — FET has a hard cap of 2,714,384,546 coins, which is the maximum that will ever exist. New tokens enter circulation as rewards for the miners and stakers who keep the network running and secure. Once the cap is reached, issuance stops for good.
FET can be held in any wallet that supports the token, from browser and mobile wallets to hardware devices for long-term storage. Within the ecosystem, FET is used to pay agents for their services, deploy your own agents, and stake to help secure the network. The official site, fetch.ai, keeps an up-to-date list of supported wallets and tools.