German telecommunications giant Deutsche Telekom has partnered with UK-based Fetch.ai to collaborate on artificial intelligence (AI) and Web3 technologies. This can turn out to be an exciting development for Fetch.ai‘s native token FET.
Krypto Insider, an anonymous crypto insider account, broke the news on the X platform, writing that Deutsche Telekom “has joined forces with @Fetch\_ai Foundation as its first corporate partner.” According to the tweet, the partnership “is set to propel cutting-edge #AI and Web3 technologies forward on the $FET network.”
Fetch.ai, an AI-focused blockchain project, confirmed the partnership in a tweet, writing that “Deutsche Telekom (@Telekom\_MMS) has joined the Fetch Foundation as a corporate partner, alongside serving as a #validator to the network through their subsidiary, @mms\_Blockchain.”
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The Fetch.ai Foundation
The Fetch.ai Foundation, established in the Netherlands, commits to building an inclusive platform for AI and blockchain technology. The partnership with Deutsche Telekom will bring major backing and validation to Fetch.ai’s efforts.
Additionally, Deutsche Telekom’s subsidiary MMS will play a key role by securing Fetch.ai’s decentralized blockchain as a validator node. Running a validator helps contribute to consensus and the overall security of blockchain networks.
Impact on the FET Token
Other crypto commentators also chimed in on the significance of the partnership. Crypto Tony predicted the Fetch.ai token, FET, could reclaim the $0.58 support level following the announcement. Meanwhile, Trade4ddict said Fetch.ai “looks damn strong” and anticipated a move towards the $0.79 resistance level.
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Show more +The collaboration represents a major step in bridging mainstream corporations with bleeding-edge decentralized technologies. With the backing of a global giant like Deutsche Telekom, Fetch.ai is positioned to accelerate the development of real-world AI and Web3 applications.
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