In this article, I analyze Fetch AI (FET), a token that I hold and that I keep accumulating. Why? To answer that question, let’s do a deep dive into the fundamentals of the project and what to expect in 2022. Finally, I’ll give my price prediction for token for the beginning of next year.
1. What is Fetch AI?
Fetch AI is an open-source decentralized machine learning platform based on a distributed ledger that provides users access to AI in the format of secure datasets. This technology allows data sources to communicate with one another to bring value to humans.
In an airport, an airplane could book taxis for passengers before checking the availability of the shuttle, all of this happening on the Fetch blockchain:
In short it’s a mix of IoT, blockchain and AI. Yes. All the hot topics.
2. Fetch AI roadmap for 2022
Here is a list of expected deliveries for 2022:
My 2 favourites have real-world applications:
-“Deep Parking”/”TRIP”: a smart parking concept use-case that enables drivers to find parking spaces in busy cities and that will be released in the next six months.
-“Decibel”: a decentralized social media platform that could be integrated into Twitter and Linkedin. As an ecosystem project, it’ll be running on Fetch. It should be released this January.
A picture is worth a thousand words:
4. On-chain metrics for FET
Moreover, on-chain metrics are looking very good to me with active addresses going constantly up (even if Coinbase is airdropping tokens, it’s still impressive).
It’s been the case for 4 months now, without interruption:
If you want to check this data, look at the “holders” section on CoinMarketCap (here). Under the condition that the circulating supply is constant, this linear evolution of active addresses means that the (fair) price will increase quadratically based on Metcalfe.
More theory here if that’s of interest:
5. Market capitalisation of FET
The market capitalisation of FET looks very undervalued to me because of how huge IoT will become by 2025 (tomorrow!). Look at the numbers:
My opinion is that the (potential) future “blockchain of things” can’t be valued 300 million USD when “network of things” is valued 1.5 trillion USD.
6. My price prediction for early 2023
For my price prediction, I won’t look at charts.
I will take as input this Tweet, quoting the CEO of Fetch AI:
Now, let’s assume that the Fetch AI team delivers the 2 main applications they’ve planned to deliver (“Deep Parking” and “Decibel”) proving a market value of around 2 billion USD. Indeed, it would put the fair value of the token around $2.8, which is my price prediction for the beginning of 2023.
Simple. And ambitious!
Read about the project, do your own research.
Until then…Take care.