Interactive Power (TRNR), a Nasdaq-listed health tools producer, is launching what it claims to be the world’s first synthetic intelligence cryptocurrency treasury, signaling rising curiosity in Web3 amongst completely different industries.
Interactive Power, the maker of the CLMBR and FORME health tools, has entered right into a Securities Buy Settlement to boost as much as $500 million in capital to amass Fetch.ai (FET) tokens, based on a June 11 announcement shared with Cointelegraph.
The deal will make Interactive Power the holder of the world’s largest company AI token treasury, the corporate claims.
Interactive Power has already began buying FET tokens with an preliminary $55 million funding from non-public fairness agency ATW Companions and crypto market maker DWF Labs.
AI is the “greatest technological leap in our lifetime,” mentioned Trnet Ward, the CEO of TRNR.
“We imagine our technique to amass a big variety of $FET tokens might dramatically speed up our mission to create important long-term worth for TRNR shareholders,” he added.
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This can be a growing story, and additional data will likely be added because it turns into obtainable.