While partnerships continue to increase in the cryptocurrency industry, the latest partnership news came from German telecom giant Deutsche Telekom and Fetch.ai (FET).
Announcing this partnership in its blog post, Deutsche Telekom announced that they are collaborating with Bosch and the Fetch.ai Foundation.
While the Fetch.ai team announced the Deutsche Telekom partnership with the X post, they stated that the German telecom giant was the first corporate company to partner with the Fetch Foundation.
“Deutsche Telekom joins the Fetch.ai Foundation as its first corporate partner.
Founded by Bosch and Fetch.ai as a non-profit organization based in the Netherlands, the Fetch.ai Foundation supports cutting-edge artificial intelligence and Web3 technologies on the Fetch.ai network.
As validator, Deutsche Telekom subsidiary MMS also ensures the security of the decentralized Fetch.ai blockchain.”
It's a monumental day!
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.
Read more below 👇https://t.co/v58DtHPj4J
— Fetch.ai (@Fetch_ai) February 13, 2024
Deutsche Telekom senior official Dirk Röder said about the partnership:
“The collaboration between Deutsche Telekom, Fetch.ai and Bosch is groundbreaking and combines industrial applications with the Internet of Things.
Autonomous agents will automate industrial services, simplify processes and make them secure and scalable thanks to blockchain technology.”
“This partnership is a significant milestone for Fetch.ai. Through the research, development and practical application of agents, artificial intelligence and decentralized Web3 technologies, real-world use cases can be integrated to enhance the existing network,” Fetch CEO Humayun Sheikh said in his statement. .
Following the news, FET price started to rise. FET continues to be traded at $0.67 at the time of writing.
*This is not investment advice.