FET is the token of the Artificial Superintelligence Alliance (ASI), a decentralised artificial intelligence project formed in 2024 around Fetch.ai and SingularityNET. FET powers a network where autonomous software agents can find each other, negotiate and carry out tasks for people and businesses, such as booking travel or optimising energy use. Fetch.ai was founded in 2017 by Humayun Sheikh, Toby Simpson and Thomas Hain. FET is used to pay for services on the network, to stake and to take part in governance. The token began life as the Fetch.ai token and carries that history into the alliance.