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NMR

The Numeraire token (NMR) is an -based token that powers , a San Francisco-based hedge fund that crowd-sources artificial intelligence to invest in the world’s stock market. [1][2]

Overview

NMR is a token used to pay for services on the and also to power all Numerai applications. Users NMR tokens on various prediction models and are rewarded based on their performance. [3][6]

It is built on  following the  standard for tokens. Numeraire can be bought and sold for other digital currencies. [3]

In 2017, the NMR token launched on Ethereum without an  (ICO), rather Numerai issued one million NMR tokens to 12,000 data scientists based on past contributions in Numerai Tournaments. [1][3]

Numerai

Numerai is an AI-run, crowd-sourced hedge fund based in San Francisco. It was founded by South African technologist in October 2015. The trades of Numerai are determined by an AI, which is fueled by a network of thousands of anonymous data scientists. [3]

Numerai organizes a guessing game where people, often data scientists, create models to predict how money-related things like stocks will change. These models compete with each other. Those who make the best predictions win prizes. They can bet Numeraire Tokens(NMR) to win more if they are confident in their predictions. [4]

Numerai won a 2016 Forbes Fintech 50 award. In March 2017, Numerai designed and released a new ‘API’ that allows people around the world to create and submit predictions from machine language models to power hedge funds. [3][5]

Tokenomics

The maximum supply of NMR is 11,000,000 tokens. In a 2018 press release, Numerai, the company that created & NMR announced that three million NMR tokens will remain locked until 2028, and will be released as a reward incentive for tournament participants. NMR tokens are burned weekly, as tournament participants who venture losing models and predictions lose their stake in the competition. [1][2]

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