In a recent X Spaces call, Interactive Strength CEO Trent Ward sat down with key partners to discuss the company’s groundbreaking partnership with Fetch.ai — a deal that brings together cutting-edge artificial intelligence and Interactive Strength’s rapidly growing business model.
What follows is a lightly edited transcript of their conversation, offering deeper insight into the vision, structure, and opportunities behind the deal.
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START
Niko (Host):
Welcome everyone — we’re excited to host today’s discussion about Interactive Strength’s new partnership with Fetch.ai and what it means for the business going forward. Trent, let’s start with you — can you give us a quick overview?
The Vision Behind the Partnership
Trent Ward, CEO, Interactive Strength:
Thanks, and welcome everyone. This is a big moment for us. Interactive Strength started as a direct-to-consumer fitness hardware company, but over time we’ve evolved into a publicly listed multi-brand company with both B2C and B2B routes to market that integrates connected fitness, wellness, and recovery. Last year, we completed our first acquisition and with the next two acquisitions expected to close soon, we are on track for over $75 million in revenue this year on a pro forma basis.
Now, we’re expanding even further — bringing Fetch.ai’s advanced AI technology not just into our business, but into multiple industries. This isn’t just about web3 or crypto — it’s about real-world applications that can unlock efficiency, improve margins, and ultimately deliver better outcomes for both businesses and consumers.
How Fetch.ai Fits In
Humayun Sheikh:
Can you walk us through Fetch.ai and why it’s such a good fit?
Trent Ward:
Fetch has developed one of the most robust agentic AI platforms in the world. Their autonomous AI agents can handle a range of tasks, from customer service to personal training to business operations. The technology is designed to scale, and we see a real opportunity to deploy it across verticals — starting with fitness and wellness but going far beyond that.
Humayun Sheikh:
Fetch’s platform is already estimated to represent a $30–40 billion annual opportunity, and we believe this is just scratching the surface.
Structure of the Deal
Humayun Sheikh:
Let’s get into the transaction details — how is this structured?
Trent Ward:
We’ve established a $500 million capital facility, with $55 million already being funded in the first tranche. The capital is being deployed to purchase FET (Fetch’s native utility token) on the open market. This isn’t a typical financial transaction — it’s a technology transfer at its core.
By acquiring the token, we have the ability to transact directly in Fetch’s technology ecosystem. This structure also aligns equity holders and token holders, giving common shareholders significant upside as Fetch’s platform grows in adoption and utility.
Use Cases and AI Integration
Humayun Sheikh:
What are some of the immediate applications you’re excited about?
Trent Ward:
Personal training is the first area we’re expecting to focus on. AI agents can deliver high-quality, personalized training programs that adapt to individual users in real-time. Beyond that, we’re expecting
to build out many of the health coaching elements that our top-tier trainers incorporate into their coaching, such as diet management, sleep optimization, recovery protocols — the full wellness stack.
But we’re also looking at how this technology can apply outside of health and wellness — everything from back-office operations to customer engagement in a variety of industries.
Safeguards for Investors
Humayun Sheikh:
How does this benefit shareholders? How do you manage risk?
Trent Ward:
The structure was designed to provide shareholders exposure to the upside and insulate them from the downside. We’re purchasing tokens with the strategy to hold for the long-term, and we have a guarantee mechanism in place such that we believe we can minimize exposure to short-term volatility while maintaining significant potential upside.
At the same time, Fetch’s technology could create operational efficiencies — better margins, better customer retention, and ultimately stronger financial performance. This isn’t just about token price — it’s about enhancing the core fundamentals of the business.
Skepticism and Market Reaction
Niko (Host):
Some market participants have raised questions. What would you say to skeptics?
Humayun (Fetch.ai):
It’s understandable — we are doing something that hasn’t really been done before at this scale. But Fetch’s technology is real, and it’s been years in the making. The beauty of agentic AI is that it works across so many use cases, and we’re now seeing businesses like Interactive Strength adopt it in very practical, high-impact ways.
The broader market often takes time to catch up to innovation — but that creates opportunity for those who move early.
Bringing Traditional and Crypto Markets Together
Andrei Grachev, DWF Labs:
This deal represents a unique bridge between traditional capital markets and the decentralized world. Interactive Strength is not a crypto company, but through this structure, they’re able to access cutting-edge technology while giving equity investors exposure to the value that’s being built in the AI token ecosystem.
What’s most important is utility — real businesses using the technology, generating real revenue. That’s what will ultimately drive value for both equity and token holders.
Looking Ahead
Humayun Sheikh:
Where do you see this going next?
Trent Ward:
This partnership puts us in a leadership position, and we expect others will follow. The combination of AI and wellness is expected to be massive, but we also see potential opportunities in industries like healthcare, logistics, customer support, and beyond.
For us, it’s all about driving operational excellence, expanding our margins, and delivering strong, durable growth. We believe this could be a transformative driver for the business over the next decade.
Niko (Host):
Thank you Trent, Humayun, and Andrei for the insights. We’re excited to watch how this partnership develops in the months ahead.
For more information about Interactive Strength and its partnership with Fetch.ai, please visit interactivestrength.com.
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Forward Looking Statements:
This post includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of acquiring future businesses or completing the referenced pending transactions in a timely manner or at all, the ultimate gross proceeds of the financing, the Company having the largest US publicly listed crypto treasury focused on an AI-token, and the financing strengthening the Company’s financial flexibility, supporting the Company’s AI and digital fitness ambitions, and increasing shareholder exposure to next-generation growth assets. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: whether ATW Partners and / or DWF Labs will invest further amounts, other US publicly listed companies’ crypto strategies, and the price of $FET tokens, or achieving the guidance of more than $75m of pro forma revenue and achieving profitability in the fourth quarter of 2025. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.