DWF Labs recently invested $40 million in Fetch.ai, a blockchain platform that utilizes artificial intelligence to automate tasks. Of the total amount, almost half has already been invested by DWF.
The funding consists of equity and Fetch.ai (FET) tokens with a combined valuation of around $250 million.
DWF will be supporting Fetch.ai with its Asian developer community outreach in the next 12 to 24 months. Humayun Sheikh, Fetch.ai’s founder and CEO, is optimistic about the platform’s potential to be a “game changer” with the utilization of AI tools such as OpenAI’s ChatGPT.
One of the main products of the company under development is a decentralized machine learning AI model called Colearn.
Sheikh has said:
“What we are trying to do is bring automation so people don’t have to interact with too many applications. So life is a lot simpler by performing tasks from one place. We are opening up our infrastructure to developers to build different applications so users can enjoy the automation journey in a decentralized fashion.”
