Fetch.ai announced this Friday, January 28, through its Twitter account, its new strategic partnership with Unicred, to scale its operations.
“Fetch.ai (https://fetch.ai/), a Cambridge-based artificial intelligence lab building an open access decentralized machine learning network for smart infrastructure today announced a partnership with Unicred, a data monetization protocol. DeFi and NFT”, he said through an article published on the Medium platform.
The company indicated that the main goal of Unicred as a multi-blockchain money market and NFT monetization protocol is to create DeFi solutions that adhere to web 3.0 principles. Unicred’s strengths also lie in its plans to integrate NFTs into loans. The huge popularity of NFT combined with the growing ecosystem of unsecured lending allows Unicred to use NFT-based blockchain identities as the basis for its unsecured lending and attract fewer liquid users.
In his opinion, this strategic association will allow Unicred to use the scalability, interoperability and advanced cryptography offered by fetch.ai’s autonomous economic agents.
Similarly, he indicated that Fetch.ai Autonomous Economic Agents can be natively integrated with Web 3.0 technologies to access a financial commitment and settlement layer. The framework is open source and allows extension to incorporate different blockchain and AI technologies.
In addition, he assured that with the support of the Launchpool Labs incubator program, Unicred has its roadmap established until mid-2023, when it is expected to reach full functionality. As a first step in making DeFi decisions that are more data-driven using Fetch.ai’s autonomous economic agents, Unicred will implement Stock Compound Fork V1 on the fetch.ai chain, followed by the implementation of AI models that are focus on better user-centric and risk analysis later this year.
“Fetch.ai instantly resonated with Unicred’s vision of merging blockchain technology and artificial intelligence in the specific area of risk modeling and its technological capabilities allow us to build better solutions for the DeFi market”, said Rakesh Lavi, CEO of Unicred.
For his part, Humayun Sheikh, CEO and founder of Fetch.ai, stressed that “Unicred is a fusion of DeFi and AI that we believe is the inevitable evolution, and our capabilities instantly allow Unicred to implement sophisticated models while maintaining the spirit of cryptocurrencies”.