What is Numeraire (NMR)?

Numeraire (NMR) is a crypto token operating on the Numerai platform, a project that combines artificial intelligence with blockchain technology to improve market predictions.

In this article, we will discuss Numeraire in more depth, from its meaning, and how it works, to its impact on the world of financial trading.

What is Numeraire (NMR)?

Numeraire is a crypto token used on the Numerai platform. It was created to enable collaboration and competition in building powerful market prediction models. Numeraire is awarded to users who successfully build effective prediction models, and they can use these tokens to participate in various aspects of the Numerai platform.

Numerai has changed the way market predictions are done by leveraging artificial intelligence and blockchain technology. By providing a platform for competition and collaboration in building effective prediction models, Numerai has opened the door to the discovery of new market patterns and increased prediction accuracy.

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Numeraire (NMR) Key Products & Features

Below are some of the key products and features of Numeraire (NMR).

1. Numerai Tournament

Numerai hosts tournaments that invite data scientists from all over the world to build accurate predictive models of financial markets. The participants used historical data provided by Numerai to build their models. Then, they submit their predictions to the platform and are awarded points based on the performance of their predictions. Numeraire (NMR) is used as an incentive for participants who succeed in building an effective model.

2. Stake and Vote

Numeraire holders can use their tokens to place bets on prediction models they believe will work. In addition, they can also use tokens to vote in the process of assessing and selecting the best model. This gives users more control over the platform and allows more active participation in decision-making.

3. Payment of Transaction Fees

Numeraire is used as a means of payment for transaction fees on the Numerai platform. This includes fees for entering predictions into tournaments, withdrawal fees, and other fees associated with using the platform. Active users can use their NMR to pay these fees quickly and efficiently.

4. Support for Developers

Numerai also offers support for developers who want to build their prediction algorithms. They can access Numerai data to develop their models and participate in tournaments. Numeraire is used as an incentive for developers who succeed in building effective and well-performing models.

5. Token Burn

A portion of the Numeraire used in the Numerai platform will be burned as part of the tokenomics mechanism. This aims to reduce the total supply of tokens and increase the value of tokens, as well as provide incentives for token holders to maintain their holdings.

6. Decentralized Prediction Model

The entire Numerai platform runs on blockchain technology, which means the prediction models built by participants are stored in a decentralized manner. This ensures data security and transparency, as well as giving users complete control over their models.

Also Read: Why Should You Invest in Numeraire (NMR)? This is the Complete Guide

What is an NMR Token?

The NMR token, or Numeraire, is a crypto token used on the Numerai platform. Numerai is a project that combines artificial intelligence with blockchain technology to improve market predictions. Numeraire is designed to be an incentive for data scientists to participate in Numerai tournaments, where they build effective market prediction models.

The NMR token has several main functions, namely:

1. Incentives

Data scientists who succeed in building good market prediction models on the Numerai platform are awarded NMR tokens as incentives. This is an encouragement for them to participate and make a valuable contribution to improving the quality of market predictions.

2. Stake and Vote

NMR token holders can use their tokens to place bets on prediction models that they believe will work. They can also use tokens to vote in the process of assessing and selecting the best model, giving them more control over the platform.

3. Payment of Transaction Fees

NMR is also used as a means of payment for transaction fees on the Numerai platform. This includes fees for entering predictions into tournaments, withdrawal fees, and other fees associated with using the platform.

4. Support for Developers

Numerai provides support to developers who want to build their prediction algorithms. They can access Numerai data to develop their models and participate in tournaments. Numeraire is used as an incentive for developers who succeed in building effective models.

Tokenomic Token Numeraire (NMR)

Numeraire Tokenomics (NMR) refers to the token economics of the Numeraire crypto token in the Numerai ecosystem. It covers various aspects, including total supply, distribution, use in the platform, burning mechanisms, incentives, and governance.

• Total Supply: 11.000.000 NMR
• Circulating Supply: 6.170.000 NMR
• Seed Sale: 5%
• Public Sale: 20%
• Team & Advisors: 15%
• Ecosystem & Marketing: 15%
• Liquidity: 10%
• Staking Rewards: 35%

Numeraire Fundamental Analysis (NMR)

Numeraire (NMR) fundamental analysis involves an in-depth evaluation of the various factors that influence the value and long-term growth prospects of the token. Here are some key aspects to consider in Numeraire (NMR) fundamental analysis:

• Team: The Numeraire team consists of experienced professionals in the finance, data science, and blockchain industries.
• Community: Numeraire has a strong global community with over 50,000 members.
• Partnerships: Numeraire has established partnerships with several well-known blockchain and financial companies.
• Roadmap : Numeraire has a clear roadmap for the development of its platform.

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Comparison of Numeraire (NMR) & Competitors 

The following is a comparison of Numeraire (NMR) with several of its competitors in table form.

Founder & Tim Numeraire (NMR)

• Richard Craib - Founder & CEO
• Alex Svanevik - CTO
• Joseph Lubin - Co-Founder

Expert Opinion on Numeraire (NMR)

Many experts believe that Numeraire is an innovative platform with great potential to revolutionize the financial industry. The Numeraire platform offers attractive solutions for data scientists, investors and traders.

Conclusion

Numeraire is a crowdsourced hedge fund platform that uses AI and machine learning to predict stock market movements. This platform has great potential to grow in the fast-growing financial industry.

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.