German giant Bosch and artificial intelligence protocol Fetch.ai have announced a partnership to create the Fetch.ai Foundation.
Accordingly, the Fetch.ai Foundation will focus on researching and developing Web3, the 3rd generation of blockchain-based internet with many real-life values. At the same time, the project will be organized into three tiers, inspired by the Linux Foundation’s decentralized innovation model.
We are thrilled to announce that @Fetch_aiin collaboration with our partner @BoschGlobalare forming a new https://t.co/kJ9URVpOul Foundation to boost development of #industry applications based on #WHO and #Web3 technologies!
👉 https://t.co/w1JDSrG2lo pic.twitter.com/AuL6S1RuSL
— Fetch.ai (@Fetch_ai) February 21, 2023
As part of the agreement, Bosch and Fetch.ai will jointly lead the new platform and expand connections to many of the big names in the industry. Fetch.ai founder Humayun Sheikh said in a statement:
“Bosch will help us spread Web3 in the industry and encourage other companies to join this journey. Many applications will bring new business opportunities for existing tech professionals in the Fetch.ai ecosystem.”
The collaboration between Fetch.ai and Bosch comes amid a cryptocurrency market that is focusing its attention on artificial intelligence. Thanks to the partnership news, Fetch.ai’s FET token price surged to close to the $0.50 mark before returning to its current price range.
Song according to statistics from CryptoSlatethe number of searches for the keyword AI token has been on a downward trend in the past 7 days, although before that “AI coin” used to dominate Google Trends, as Kyptos reported.