MEXC Global $150M Fund for Fetch.ai, Backed by Huobi and ByBit -Breaking
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MEXC Global $150M Fond for Fetch.ai – Backed By Huobi and ByBit- MEXC Global announces $150 million support for Fetch.ai’s ecosystem growth
- Fetch.ai is a blockchain platform that uses AI and machine-learning to provide a service called “Fetch.”
- MEXC Global has partnered with Huobi Global & Bybit.
MEXC Global, a leading trading platform, has announced a $150 million ecosystem fund. The fund will support ecosystem growth at Fetch.ai. Fetch.ai is a Cambridge-based artificial Intelligence Lab that builds an open-access, decentralized machine-learning network for smart infrastructure. Huobi Global as well as Bybit will be supporting and playing a major role in the success of the project.
Humayun Sheikh is the CEO and founder of Fetch.ai.
Fetch.ai’s expansive ecosystem for developers is a great opportunity to work with innovators such as MEXC and Huobi. 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. It is the right time to allow fetch.ai scale to make it possible for other projects and enable them to create new, interesting business models that can be used in the decentralized economic system.
Fetch.ai uses machine learning and AI to create a blockchain platform that is competitive for developers. The blockchain uses the Cosmos SDK as an interchain protocol. Additionally, the smart contract language Cosmwasm (based on WASM) is used. It will enable advanced cryptography as well as machine learning logic to both be applied on and off-chain.
Technology-wise, Fetch.ai can be described as a layer-1 network that acts as both a layer-2 network to legacy blockchain networks as well as as an interchain link with the outside world. Developers within the cosmos can access Fetch.ai’s toolkits and scale quickly.
Furthermore, the 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. This network can be used to power applications in DeFi and other areas such as supply chain, logistics, manufacturing and mobility.
Katherine Deng, Vice President of MEXC Global (and the founder of MEXC Pioneer), said,
Fetch.ai has an AI-focused team with a strong background. Their level of knowledge was impressive. Fetch.ai welcomes new developers to help create the ecosystem. The team also provides state-of the-art tools and services for developers on the chain to facilitate growth. This team is happy to collaborate with such great talent and contribute to this rapidly growing ecosystem.
Fetch.ai invites talented blockchain and crypto developers to join the Fetch.ai network. MEXC Global, Huobi, and Bybit are the initial movers in cutting-edge cryptocurrency and blockchain projects. They also launched the ecosystem fund and encouraged developers to submit ideas to the Fetch.ai community.
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