Fetch.AI invests $100 million in AI blockchain tech, introduces rewards for token holders

Derive.AI, a particular person-made intelligence-connected blockchain network, has unveiled plans to deploy cutting-edge graphics processing units (GPUs) and introduce rewards for FET holders following a fresh $100 million infrastructure funding, per a Mar. 5 assertion shared with CryptoSlate.

$100 million infrastructure enhance fund

The AI platform revealed it secured $100 million in infrastructure enhance funding to launch Derive Compute.

Derive Compute will leverage Nvidia’s H200, H100, and A100 GPUs, setting up a robust platform for developers and customers to harness computing energy successfully. This initiative objectives to catalyze innovation within the blockchain network’s ecosystem by facilitating the exploration of intricate objects and concepts.

Funding for this strategic deployment originates from the Derive Ecosystem Fund and demonstrates the network’s proactive methodology to addressing GPU shortage and empowering developers.

Humayun Sheikh, the CEO of Derive.ai, said:

“Derive Compute is now not correct an infrastructure funding ; it’s an funding within the methodology forward for AI and the ecosystem of innovative developers who are pushing the boundaries of what’s most likely with our platform.”

Rewarding FET holders

Derive.ai is put to roll out a weird reward scheme alongside the launch of Derive Compute, aiming to serve FET holders.

Starting Mar. 7, FET holders will possess the different to accrue Derive Compute Credit rating. These credit allow them to quilt GPU usage costs, granting access to the scarce computational resources of the decentralized Derive compute network. Moreover, FET might well also be aged to pay for Compute usage.

The venture’s crew acknowledged that this enhance marks a predominant stride for creators partaking in handy resource-intensive decentralized AI ventures. Sheikh added:

“By marrying colossal compute resources with our fresh compute credit scheme, we’re guaranteeing that our community has the enhance and instruments needed to raise their visionary AI projects to life.”

FET is the fourth-largest AI-connected token, as per CryptoSlate’s knowledge. Over the last month, its price surged by over 240% amid experiences of monetary troubles. Then but again, the venture vehemently refutes such claims.