Interactive Strength to build $500m FET treasury, partners with Fetch.ai

Interactive Strength Inc., the company behind fitness brands CLMBR and FORME, has announced a new $500 million crypto asset strategy focused on acquiring Fetch.ai’s FET tokens. 

The initiative, which includes a $55 million first-round investment from ATW Partners and DWF Labs, marks a major move into AI-linked digital assets by a U.S.-listed company.

According to the company’s announcement shared with crypto.news, proceeds from the facility will be used exclusively to purchase FET (FET), a leading AI cryptocurrency. 

TRNR says the plan will make it the largest publicly listed crypto treasury focused on a single AI-token.

TRNR’s partnership with Fetch.ai

TRNR is also entering into a technology collaboration with Fetch.ai. The partnership will aim to integrate Fetch.ai’s decentralized AI agents into TRNR’s digital fitness platform to power personalized, autonomous coaching.

Trent Ward, CEO of TRNR, said the decision reflects the growing intersection between AI and crypto, calling Fetch.ai the “market leader” in this space. 

“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,” Ward said.

As part of its treasury operations, TRNR will use BitGo for trading and custodial services. BitGo is a leading crypto security platform used by institutional investors.

Fetch.ai CEO Humayun Sheikh noted that the platform’s AI agents are capable of autonomous interaction and transaction, allowing for monetizable tools across industries, including health, energy, logistics, and finance.

The company also emphasized that this move aligns with its two pending acquisitions of Sportstech and Wattbike. In conjunction with its $FET-focused strategy, TRNR aims to integrate digital fitness offerings with next-generation asset exposure, supported by institutional investors.

FET is currently a top-50 crypto asset by market capitalization and ranks among the top five AI-focused tokens, according to crypto.news data.