Bitget has jumped on the artificial intelligence (AI) bandwagon and pledged $10 million to the Fetch.ai platform.
The AI hype has taken the markets by storm this year. Investors are betting big on the AI industry, and so are cryptocurrency leaders. Now, the crypto derivatives exchange, Bitget, has also committed a $10 million investment in the AI platform, Fetch.ai.
Will Bitget Develop Infrastructure for AI Crypto Derivatives Trading?
According to Finance Magnates, Bitget plans to offer Fetch.ai a range of services, including marketing consultations and strategic directions.
Gracy Chan, the Managing Director of Bitget, says:
“We know value when we see it. Fetch.ai already consists of a host of functioning and applicable technological AI solutions that can have a real impact on the way businesses and individuals interact.”
Fetch.ai provides technology to build services using automation and AI for finance and predictions. While Bitget wants to help Fetch.ai build community and business partnerships, can it also utilize its tech to build an AI crypto derivatives exchange going forward?
Bitget has yet to officially commented on the news.
Vitalik Buterin’s ChatGPT AI Experiments
Recently, Vitalik Buterin, the co-founder of Ethereum, experimented with the AI chatbot, ChatGPT’s Application Programming Interfaces (APIs).
His experiments revealed the potential for ChatGPT to be used to suggest APIs needed for developing successful crypto trading strategies.
As crypto leaders are exploring AI investment opportunities, Cosmose AI received undisclosed funding from the NEAR protocol this Monday. With this partnership, Cosmose AI, a company focused on retail shopping, achieved a $500 million valuation.
BeInCrypto reported that the partnership’s goal is to make online payments up to 50 times cheaper.
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Source: https://beincrypto.com/bitget-10m-fetch-ai-investment/