Update June 11, 12:31 PM UTC: This article has been updated to include quotes from TRNET ward, the CEO of TRNR.
Interactive Strength (TRNR), a fitness equipment manufacturer listed in the NASDAQ, launches what it is said to be the first artificial intelligence of the world’s intelligence intelligence, which has signed the growing interest in Web3 in various industries.
Interactive strength, the CLMBR and Forme Fitness Equipment manufacturer, entered a security purchase agreement to raise up to $ 500 million in capital to obtain fetch.AI (Fet) tokens, according to a June 11 announcement shared with cointelegraph.
The deal will create interactive strength holding the world’s largest corporate AI token Treasury, the company’s claim.
Interactive strength began to capture fet tokens with an initial $ 55 million investment from private equity firm ATW partners and Crypto Market Maker DWF Labs.
The firm has not disclosed the exact amount invested to this day, but said it focuses on “full transparency” while preparing to share the full details in a US Securities and Exchange Commission filing.
AI is the “biggest technological jump in our lives,” says Trnet Ward, the CEO of TRNR.
“We believe that our strategy to get a significant number of fet tokens can dramatically accelerate our mission to create significant long-term value for TRNR shareholders,” he added.
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Fetch.ai The first decentralized large language model (LLM) was developed for autonomous AI actions within critical industries, including medical research, energy and finances.
Natural platform decentralization is a significant benefit for the fitness manufacturer, Ward told Cointelegraph, adding:
“Our belief is that AI’s decentralized infrastructure offers a competitive edge in terms of scalability, data privacy and innovative community driven.”
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The fitness industry “ripe” for AI automation
The fitness industry can benefit from implementing the automation capabilities of AI agents.
“The fitness sector is ripe for intelligent automation, from the exercise plans to exercise to a-enhanced form and coaching,” Ward told Cointelegraph, addition:
“We entered a strategic technology cooperation with Fetch.Aai to co-develop AI agents that will boost personal fitness services and scale training.”
“It’s not a pivot far from our main offer, it’s an evolution in it,” Ward explained, adding that early shareholders saw it as a “high-upside, forward betting that fits our existing value proposal.”
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