{"id":"nmr","version":1,"language":"en","title":"NMR ","hidden":false,"content":"**The Numeraire token (NMR)** is an [ERC- 20](https://iq.wiki/wiki/erc-20) based token that powers [Numerai](https://iq.wiki/wiki/numeraire), a hedge fund that crowd-sources artificial intelligence to invest in the world’s stock market. [\\[1\\]](#cite-id-es1ts1s3kcm)[\\[2\\]](#cite-id-bn8oipns6o6)[\\[3\\]](#cite-id-poral5izlgc)  \n$$widget0 [YOUTUBE@VID](ha2Yzjx6uQU)$$  \n  \n# Overview  \n  \nNMR is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) token used to pay for services on the [Numeraire network](https://iq.wiki/wiki/numeraire) and also to power all Numerai applications. Users [stake](https://iq.wiki/wiki/staking) NMR tokens on various prediction models and are rewarded based on their performance. It is built on [Ethereum](https://iq.wiki/wiki/ethereum) following the [ERC-20](https://iq.wiki/wiki/erc-20) standard for tokens. [\\[3\\]](#cite-id-poral5izlgc)[\\[6\\]](#cite-id-d2n9kacht2c)  \n  \nIn 2017, the NMR token launched on Ethereum [mainnet](https://iq.wiki/wiki/mainnet) without an [Initial Coin Offering](https://iq.wiki/wiki/initial-coin-offering) (ICO), rather Numerai issued one million NMR tokens to 12,000 data scientists based on past contributions in Numerai Tournaments. [\\[1\\]](#cite-id-es1ts1s3kcm)[\\[3\\]](#cite-id-poral5izlgc)  \n  \nNMR can be used as an Incentivization Tool for AI model development in financial predictions, for Market Strategy, and Community Engagement — building a network of skilled data scientists. [\\[7\\]](#cite-id-02riqtvs6fqt)  \n  \n## Numerai  \n  \nNumerai is an AI-run, crowdsourced hedge fund based in San Francisco. It was founded by South African technologist [Richard Craib](https://iq.wiki/wiki/richard-craib) 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\\]](#cite-id-poral5izlgc)  \n  \nNumerai 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\\]](#cite-id-l15ygd4mx9)  \n  \nNumerai 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\\]](#cite-id-poral5izlgc)[\\[5\\]](#cite-id-mwcruszizkq)  \n$$widget0 [YOUTUBE@VID](vL_v0Wav1jY)$$  \n  \n# Tokenomics & Distribution  \n  \nThe maximum supply of NMR is 11,000,000 tokens reduced from an initial 21 Million.  Numerai distributed 1 Million tokens to active platform users and 3 Million tokens are locked until 2028 and will be released as a reward incentive for tournament participants. [\\[7\\]](#cite-id-02riqtvs6fqt)  \n   \nNMR tokens are [burned](https://iq.wiki/wiki/token-burn) weekly, as tournament participants who venture losing models and predictions lose their stake in the competition. [\\[1\\]](#cite-id-es1ts1s3kcm)[\\[2\\]](#cite-id-bn8oipns6o6)  \n  \n","summary":"NMR (Numeraire) is a cryptocurrency powering San Francisco-based hedge fund Numerai, which uses it to incentivize artificial intelligence-driven stock market pr...","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Ethereum"}],"metadata":[{"id":"references","value":"[{\"id\":\"es1ts1s3kcm\",\"url\":\"https://coinmarketcap.com/currencies/numeraire/\",\"description\":\"cmc - nmr\",\"timestamp\":1707393923913},{\"id\":\"bn8oipns6o6\",\"url\":\"https://www.coingecko.com/en/coins/numeraire\",\"description\":\"coingecko - nmr\",\"timestamp\":1707393935672},{\"id\":\"poral5izlgc\",\"url\":\"https://numer.ai/\",\"description\":\"numerai website\",\"timestamp\":1707393964409},{\"id\":\"l15ygd4mx9\",\"url\":\"https://www.binance.com/en-IN/feed/post/1076619\",\"description\":\"binance - numerai\",\"timestamp\":1707395267712},{\"id\":\"mwcruszizkq\",\"url\":\"https://www.gemini.com/prices/numeraire\",\"description\":\"gemini = numerai\",\"timestamp\":1707733031915},{\"id\":\"d2n9kacht2c\",\"url\":\"https://americascardroom.eu/cryptocurrency/numeraire/\",\"description\":\"what is numerai\",\"timestamp\":1707733133094},{\"id\":\"02riqtvs6fqt\",\"url\":\"https://8v.com/info/assets/numeraire-nmr/\",\"description\":\"8v.com - nmr\",\"timestamp\":1709559039960}]"},{"id":"website","value":"https://numer.ai/"},{"id":"twitter_profile","value":"https://twitter.com/numerai"},{"id":"github_profile","value":"https://github.com/numerai"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/numeraire/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/numeraire"},{"id":"medium_profile","value":"https://medium.com/numerai"},{"id":"etherscan_profile","value":"https://etherscan.io/token/0x1776e1F26f98b1A5dF9cD347953a26dd3Cb46671"},{"id":"commit-message","value":"updates"},{"id":"previous_cid","value":"QmZWUNusFQrruMyXUiiRrwX1HJHMVNJQ8NHj2Kpqp2tj14"}],"user":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"author":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb","profile":{"username":"zainab","avatar":"QmZzhTxNPnCKWpsPJtS1YeZUiZ5vFSNHCeStpigLs2pRNt"}},"media":[{"name":"ha2Yzjx6uQU","id":"https://www.youtube.com/watch?v=ha2Yzjx6uQU","size":"0","type":null,"source":"YOUTUBE"},{"name":"vL_v0Wav1jY","id":"https://www.youtube.com/watch?v=vL_v0Wav1jY","size":"0","type":null,"source":"YOUTUBE"}],"views":46,"events":[],"ipfs":"QmZWUNusFQrruMyXUiiRrwX1HJHMVNJQ8NHj2Kpqp2tj14","transactionHash":"0x6a6c62d7f5c74b2dc4154f1deedeae9c7bd1b633728d2c9ca6ea311239cd83f4","created":"2024-02-08T12:57:57.222Z","updated":"2024-02-12T10:19:57.077Z","images":[{"id":"QmQZGPYZJzPNgVNLThWwgNBCRSdTbEAUFJYqh7Den9PPiu","type":"image/jpeg, image/png"}],"linkedWikis":{"founders":["richard-craib","anson-chu"],"blockchains":["ethereum"]}}