Artificial intelligence-focused crypto protocol Fetch.ai has secured $40 million in funding from market maker and investment firm DWF Labs.
The investment will be used to deploy decentralized machine learning, autonomous agents, and network infrastructure on its platform. Fetch.ai aims to enable developers to deploy and monetize applications by providing an autonomous machine-to-machine ecosystem.
The platform deploys "autonomous economic agents" which create connections between a network of independent parties and real-world systems and devices to generate economic value for its owner.
"Fetch.ai's platform provides a comprehensive solution for building and deploying peer-to-peer applications with automation and AI capabilities,” said Andrei Grachev, managing partner of DWF Labs.