Fetch (FET) is a cryptocurrency founded by Toby Simpson, Humayun Sheikh and Thomas Hain in 2017 after the merger of two independent companies, iTzme Ai and uVue. It is a decentralized blockchain platform that brings together blockchain, Artifical Intelligence, and Machine Learning to provide a fully autonomous economic ecosystem.

The team over at Fetch aims to create a brand new economy that has its foundation built on autonomous agents. These autonomous agents are based on Artifical Intelligence and can be used for completing simple useful tasks such as booking a flight to complex tasks such as weather modeling. The entire idea of the platform is to remove the limitations created by human-oriented systems that are often costly and very slow. The platform will be run through an Autonomous Economic Agents (AEA) structure that can perform any action without any need for an external stimulus. These agents can represent themselves, devices, services or individuals. They are also able to work alone, or together, to construct solutions to solve today’s complex problems.

The blockchain uses a combination of Proof-of-Work and Proof-of-Stake which they have dubbed as Useful-Proof-of-Stake. In this consensus mechanism, new blocks are minted through the normal PoS mechanism with the transaction order being determined by the word carried out between the blocks. The work carried out between the blocks is recorded on a DAG which helps to remove the need for any centralized coordinator.

FET is the token that powers the entire network. It was launched through an Initial Exchange Offering (IEO) on the Binance Launchpad and had sold out in under 10 seconds.