Fetch.ai has onboarded over 40k users from a consumer-driven data marketplace, Get My Slice (GMS). Per a recent press release, Fetch.ai said the decision by GMS to deploy on its rail is a huge milestone that, according to Kamal Ved, the Chief Product Officer (CPO) of the network, will massively benefit the platform’s technology stack, enable automation, and most importantly, democratize data sharing.
“We are constantly looking for use cases that leverage the core tenets of Web 3.0 and give all the participants equitable control with fine-grained incentivization avenues. Use cases around data sharing based rewards such as the Get My Slice product offering can benefit using the Fetch-ai Network’s Web 3.0 tech stack of blockchain, agent-based automation, and AI to democratize data sharing.”
Fetch-ai Network will provide technical support enabling GMS to transit from a web-2 fiat incentivizing system to a fully decentralized system controlled organically by demand and supply market forces. As part of the deal, Fetch.ai has revealed that they will also release a custom token for GMS that aligns with their token standard. With the token serving the GMS ecosystem, $FET will be used to pay on-chain fees required for posting smart contracts and financing user transactions.
GMS is building a consumer-driven marketplace with over 40k users. Through their platform, users can easily protect and monetize their data generated from social media activity. Typically, in web2 setup, advanced algorithms deployed by social media giants like Facebook have taken advantage of their users to monetize their activity, including geo locations, to marketing agencies, reaping billions. GMS is changing this. Therefore, users can, at any point, protect what’s truly theirs and monetize their data earning a deserved income. By launching on Fetch.ai, its users will now have an opportunity to use a platform purely driven by the scalable blockchain’s tokenomics. Within this platform, GMS’ creators can proceed to build a truly equitable ecosystem where its users are compensated fairly.
Fetch.ai is a fourth-generation blockchain built on Cosmos. It is scalable, interoperable, and incorporates machine learning and artificial intelligence. Integrating entities, including businesses and individuals, can create and launch inter-connected Autonomous Economic Agents (AEAs) to automate processes. Fetch.ai, in partnership with MEXC Global and Bybit, launched a $150 million Development Fund to boost network activity and onboard the next million users. The kitty will be open for developers and projects looking to launch and benefit from Fetch.ai’s features.