Fetch.ai Foundation announces a partnership with peaq, the blockchain for real-world applications, and Bosch, the leading global IoT manufacturer.

According to a press release, peaq will integrate Layer 1 blockchain to help Fetch.ai achieve its goals of promoting artificial intelligence and decentralization in the economy of things. The development builds on previous collaborations between peaq, Fetch.ai, and Bosch.

“By joining the Foundation, peaq will provide the backbone for boosting AI-driven automation in the Economy of Things – a new economic paradigm where connected devices will create value autonomously, leveraging Fetch.ai’s AI Agents.”

Fetch.ai Foundation

Fetch.ai Foundation previously said it had committed $100 million to an infrastructure program called Fetch Compute, which will expand developers’ tools, computing power, and training opportunities and provide GPU credits to its users.

Last month, Fetch.ai partnered with Deutsche Telekom to promote the development of AI-based technologies in the web3 industry.

Fetch.ai is a project designed to provide blockchain with an artificial intelligence-powered infrastructure. Amid recent initiatives, Fetch.ai’s native token (FET) has become one of the top gainers over the past 24 hours.

According to CoinMarketCap data, the token soared more than 22%, reaching a price of $2.23. Over the last month, the token price jumped by 326%, demonstrating steady growth against the backdrop of recent initiatives.