Interactive Strength (TRNR) Enters the Digital Asset Space by Launching an AI-Driven Crypto Treasury

Interactive Strength (TRNR), a Nasdaq-listed fitness technology firm, is entering the digital asset space by launching what it describes as the first artificial intelligence

Interactive Strength (NASDAQ:TRNR), a Nasdaq-listed fitness technology firm, is entering the digital asset space with the launch of what it describes as the first artificial intelligence-driven crypto treasury.

As part of the initiative, TRNR plans to acquire $500 million worth of Fetch.ai’s (CRYPTO: FET) FET tokens, according to a June 11 announcement.

The company has already started building its token position, backed by an initial $55 million investment from ATW Partners and crypto market maker DWF Labs.

Fetch.ai CEO Humayun Sheikh stated that the company is executing these tokens’ purchases on the open market and not through an over-the-counter (OTC) deal. He also clarified that the Fetch.ai Foundation has no role in the buying process.

TRNR is working with BitGo to handle the trading and custody of its FET holdings.

The announcement has already had a significant market impact on these assets. According to CryptoSlate data, FET’s price went up by 3% to $0.81868 at press time. TRNR’s stock also saw a sharp gain, climbing over 12% to $0.89, based on Google Finance data.

Why TRNR chose Fetch.ai

TRNR explained that it selected Fetch.ai for its leadership in combining artificial intelligence and blockchain technology.

Trent Ward, CEO of TRNR, highlighted that Fetch.ai stands at the forefront of two of the biggest technological trends of our time.

“Digital assets are rapidly becoming an essential part of global financial infrastructure and AI is the biggest technological leap in our lifetime…We believe our strategy to acquire a significant number of FET tokens could dramatically accelerate our mission to create significant long-term value for TRNR shareholders,” said Ward.

As part of the initiative, Fetch.ai will be working with TRNR to enhance its digital fitness services and advance an AI-powered personal training platform.

“For Fetch.ai it is important that our technology is used and for that companies will need FET. This is a great win not only for Fetch_ai but also for crypto as a whole. True utility business model and products to build around. This is no different to using $fet to access tiers of ASI1 and agentverse,” said Sheikh.

Fetch.ai powers decentralized AI agents capable of optimizing medical research, energy, logistics, and finance industries.

The network is a member of the Artificial Superintelligence Alliance (ASI) and includes the first decentralized large language model (LLM) designed for autonomous actions.