EXCLUSIVE: Fetch.ai announce 2022 plans

Fetch.ai CEO Humayun Sheikh has announced plans to release its deep parking use-cases as well as the launch of its social media platform in 2022.

As 2021 comes to a close, Coin Rivet spoke to the Fetch.ai boss on how a turbulent year for the world went for the British artificial intelligence lab as well as plans they had in the pipeline for 2022.

The firm revealed their 2022 roadmap on their Twitter page, demonstrating what they plan to launch next year.

Fetch.ai’s deep parking systems, a smart parking concept use-case that enables drivers to find parking spaces in busy cities will be released in the next six months, according to the CEO.

Following the demonstration of the deep parking concept at the IAA global mobility conference, Humayun said that Fetch.ai is speaking to several firms as they look to launch the concept in 2022.

“In the next six months, we are planning to launch multiple products and localities to launch the use-case where people can actually use the Fetch technology to find and book parking,” Humayun exclusively revealed.

“It’s not an easy task to build something that doesn’t exist from the ground-up where you have multiple stakeholders trying to solve multiple problems to bring them together.”

The fact that no individual or company has attempted to help solve a problem like the availability of parking in big cities makes it a sought-after concept.

Humayun called the market “desperate” for a solution for parking and called it an issue everyone in big cities faces.

“It’s a problem we all have, but nobody is solving it because there is no aggregator financing model,” he said.

When asked whether he thinks other firms will look to copy Fetch.ai’s deep parking concept once they launch in 2022, Humayun said the parking launch will show and encourage what people can build on Fetch, and it’s something they’ve already gained traction on.

Social media platform

In a previous interview with Coin Rivet, the Fetch CEO said “Apps, apps, apps” is what’s next for the firm in 2022 and he disclosed just what Fetch is unveiling in 2022.

“We’ll be launching a social media platform on Fetch,” he revealed.

“The social media platform could be integrated into Twitter and Linkedin and [while] it’s an ecosystem project, it’ll be running on Fetch.”

The launch of the platform will be in January of 2022, confirmed by Humayun, and demonstrates the traction the company has garnered with ecosystem-driven projects being built on Fetch.

Humayun said the members of the ecosystem building the social media platform find it helpful to weed out the fake news from the social media which enables the platform to give the “right credit to the right news”.

FET token

2021 has been a remarkable year for the Fetch.ai (FET) token, increasing by 1056.9%, according to CoinGecko.

Despite the exponential growth of the token, Humayun believes the best is yet to come.

“I don’t believe we’ve even scratched the surface yet,” he expressed.

“If you look at the market cap of Fetch, it’s hugely undervalued, if you put the value of a social media app and a parking project, these are projects that themselves can be worth billions of dollars.”

According to Humayun, mass adoption of these projects must occur first before we begin to see the true value of Fetch and where it needs to be.

Lockdown effects

With the UK having experienced much of 2021 in lockdown, Coin Rivet discussed how that affected Fetch.ai’s plans and if in one way, it helped the company.

“Our plans of commercialism has been hampered by COVID-19, as well as our plans to launch our travel token due to conditions [caused by the pandemic].”

“We miss [speaking about the project] but sometimes you have to put your head down and build stuff.

“There’s a lot of talk about wanting to tell everybody about what we’re doing, but we also have to build this real-world thing and it gave us some very focused development.”

However, going into the new year, Humayun recognised now is the time to speak to people and form more partnerships and with the launches the company has in the pipeline, 2022 could prove to become a significant year in the growth of Fetch.ai.