To kick things off, we’ll start by exploring the Numerai crypto project. From there, we’ll dive into the Numeraire (NMR) crypto coin. In doing so, we’ll explain its role in the ecosystem and how it works. We’ll then cover the price of the NMR coin and show you how to analyze the token using Moralis Money – the industry’s leading crypto quick scanner. And to top things off, we’ll show you the best way to buy the Numeraire crypto coin! 

What is the Numerai Crypto Project? 

To understand the intricacies of the Numeraire (NMR) crypto, you initially need to dive into the underlying project: Numerai.

So, what is the Numerai crypto project?

Numerai was founded back in 2015, and it’s an innovative AI-enabled hedge fund combining the power of artificial intelligence, machine learning, crowd-sourced stock market prediction models, and blockchain technology to revolutionize quantitative finance and allow users to trade equities. 

Numerai website landing page

The platform dissects financial data sets to an extensive network of data scientists who leverage machine learning to create predictive models and strategies for signaling traders. And this collective of intelligence data from the scientists fuels Numerai’s investing approach.

Furthermore, Numerai consists of two central components: 

  • Numerai Signals: Numerai Signals is an avenue for uploading stock market strategies that support a specific trading style or stock. 
  • Numerai Tournament: Numerai Tournament is a weekly tournament where participants can submit trading algorithms about the stock market, allowing users to bet on the most likely outcomes. 

Also, at the heart of the Numerai ecosystem, you’ll find the Numeraire (NMR) crypto. But what exactly is this coin all about, and how does it work?  

What is the Numeraire ($NMR) Cryptocurrency from Numerai? 

The Numeraire (NMR) crypto is the native token of Numerai. Furthermore, it’s an Ethereum-based cryptocurrency implementing the ERC-20 token standard. The NMR coin was minted back in 2017, and it was, according to Numerai, the first hedge fund-based cryptocurrency. Rather than releasing the NMR crypto through an initial coin offering (ICO), Numerai distributed one million tokens to about 12,000 data scientists who were already active platform users. 

Numeraire (NMR) crypto coin tokenomics

In the coming sections, we’ll dive a bit deeper into the Numeraire crypto coin. In doing so, we’ll explore who created the NMR crypto coin, its role in the Numerai ecosystem, its tokenomics, and how it works. So, if you’d like to learn more about it, join us in the next section as we kick things off by exploring the creators behind the token! 

Who Created Numeraire? The Creator Behind the NMR Crypto Coin 

Richard Craib, founder of Numerai, created the Numeraire crypto coin in San Francisco in 2015. Craib has a machine learning and quantitative finance background, and he studied mathematics at Cornell University. Furthermore, Craib founded Numerai to build a decentralized hedge fund leveraging the power of crowd-sourced intelligence and AI. And his vision for the company is to become the last hedge fund.

The Numerai crypto project was financed via four separate rounds between April 2016 and June 2020. During this period, the platform managed to raise more than $21 million. Some notable investors include Paradigm, Union Square Ventures, Placeholder, etc. 

The Role of the NMR Coin 

The NMR crypto coin has numerous use cases and plays an essential role in the Numerai ecosystem. Below, you’ll find three key examples:

  • Staking: NMR token holders can stake their coins to participate in the platform’s Numerai Tournament. The staked NMR crypto is used as a commitment to the quality of the submitted models, ensuring that participants have a ”stake in the game”.
  • Governance: NMR token holders are given governance rights. This means they can participate in the decision-making process regarding platform improvements, protocol upgrades, parameter changes, etc. 
  • External Value: The NMR crypto coin also has external value beyond Numerai. It can be traded on multiple centralized and decentralized exchanges. Consequently, it presents a potential investment opportunity for cryptocurrency traders. 

NMR Coin Tokenomics 

Here’s an overview of the NMR coin tokenomics: 

  • Symbol/Ticker: NMR or $NMR
  • Protocol: Numerai
  • Network: Ethereum
  • Token Type: ERC-20
  • Smart Contract Address: 0x1776e1f26f98b1a5df9cd347953a26dd3cb46671
  • Initial Supply: 1 million $NMR (distributed to approximately 12,000 data scientists)
  • Total Supply: 11 million $NMR
  • Mint Date: June 20, 2017

Now, with an overview of the Numeraire crypto, let’s take a closer look at how the token actually works! 

How Does Numeraire (NMR) Work? 

Numerai is a hedge fund operating an AI aggregation model incorporating all the submissions from users who upload their prediction models to the platform. From there, the platform algorithmically trades equities based on the models, and these traders are executed in the conventional stock market.

NMR Coin Logo

Within this ecosystem, the Numeraire crypto plays a vital role in incentivizing users. And, as you now know, the Numerai ecosystem consists of two central components: Numerai Signals and Numerai Tournament. As such, let’s take a closer look at how the Numeraire crypto works in the context of these applications, starting with the former.

Numerai Signals 

Numerai Signals is a Numerai application where users upload market predictions and stake crypto for a chance to earn NMR tokens. To do so, participants submit signals reflecting a trading strategy for one of the stocks featured on the Numerai platform. 

The underlying data used to create a signal can differ; however, the signals themselves are submitted in the same format, containing numerical target values and stock tickers. From there, the algorithm decides whether a user was right or wrong in their prediction. If they are correct, they get rewarded with additional NMR crypto. And if they are wrong, then their stake is burned. 

Numerai Tournament 

Numerai Tournament is a Numerai-hosted contest collecting market predictions for data scientists. To participate in the competition, users must submit their predictions via the platform’s staking mechanism. From there, the predictions are analyzed and scored based on their accuracy. 

In return, participants who stake their NMR crypto to the right prediction will earn NMR tokens. And if they choose the wrong prediction, their stake is burned and permanently destroyed instead. 

Also, it’s worth noting that contests are held each week, but the payouts and scoring period only occur every four weeks.

Analysis of the NMR Crypto Price 

At the time of writing, the NMR crypto coin is currently trading at about $16. This is a 50% decline in the price from when the Numeraire crypto token first launched back in 2017. Furthermore, the NMR coin has an all-time high of $168 and a low of $1.93. As such, from the all-time low level, the price is currently up almost 800%. What’s more, the price of the NMR crypto skyrocketed during the initial week of September 2023, going on about a 100% price rally in only five days.

Nevertheless, here’s a trading graph of the Numeraire crypto’s price development since the beginning of 2023: 

Price chart showing price action for the NMR coin

Now, the big question is, will the NMR coin continue this upward trajectory? Or is it already too late to invest in the Numeraire crypto coin? 

Is the Numeraire (NMR) Crypto Coin a Good Investment? 

Answering the question above is easier said than done, and we can’t tell you whether or not the NMR coin is a good investment. The reason for this is that we don’t know anything about your altcoin trading strategy, risk tolerance, when you’re reading this, etc. Consequently, we highly urge you to continue doing your own research and closely monitor Numerai and the Numeraire token. 

As you can imagine, the NMR crypto coin is highly dependent on the performance of the Numerai ecosystem. If the platform sees increased adoption and success, it will hopefully reflect positively on the token. However, if it fails to deliver, the price can also go in the wrong direction. As such, make sure to closely follow the Numerai project to help you make a more informed decision. 

In addition to closely monitoring the underlying project, you should also study the NMR coin’s on-chain metrics using a blockchain analytics tool like Moralis Money

Moralis Money leverages blockchain data in real time, presenting it to you in a readable and understandable format. And if you didn’t know already, on-chain activity always precedes price action. Consequently, by leveraging Moralis Money, you get true market alpha and can seamlessly decide if now is the right time to invest in the NMR crypto coin! 

One of the central features of Moralis Money is the platform’s token pages. Each token has its own page containing trading charts, security info, alpha metrics, and much more. This is what it looks like for the $NMR token: 

With the information above, you can study the real-time performance of the NMR token based on irrefutable, unbiased on-chain data. As such, this is the best and easiest way to determine whether or not the NMR crypto coin is a good investment for you! 

Best Place to Buy Numeraire Crypto ($NMR)? 

If you come to the conclusion that you want to invest in the NMR crypto coin, then you should you can do it directly via Moralis Money. Thanks to the accessibility of the platform, you can now buy the NMR crypto in three straightforward steps: 

  • Step 1: Visit the $NMR token page and connect your Web3 wallet: 
NMR Token Swap Page on Moralis Money - showing the connect wallet button to start swapping process
  • Step 2: Select a crypto trading pair: 
UI selecting token pair
  • Step 3: Hit the ”Trade” button and sign the transaction:
Trade button to swap NMR coins

That’s it; with Moralis Money, things don’t have to be more complicated than that. A couple of clicks, and you can acquire any token! 

It’s also worth noting that Moralis Money’s crypto-swapping feature leverages the 1inch DEX aggregator. By using this protocol, Moralis Money is able to provide some of the most favorable prices and lowest transaction fees possible. This makes Moralis Money the best way to buy crypto

If you’d like to learn more about swapping crypto, then check out our article on how to swap on the Ethereum network

Summary: What is the Numeraire Crypto? The NMR Crypto Token Explained 

In today’s article, we explored Numerai, which is a hedge fund combining the power of machine learning, blockchain technology, artificial intelligence, and crowd-sourced stock market prediction models to revolutionize trading practices. 

What’s more, the Numerai ecosystem consists of two central components: 

  • Numerai Signals
  • Numerai Tournament 

In addition to exploring the Numerai ecosystem, we also dove deeper into its native token: the Numeraire (NMR) crypto coin. The NMR token has many use cases within the Numerai ecosystem. For instance, the coin can be staked and provides governance rights to holders. 

Furthermore, we additionally showed you how to analyze the NMR crypto using Moralis Money – the industry’s leading on-chain trading indicator! 

However, analyzing tokens with Moralis Money barely scratches the surface, and there’s a lot more to the platform. For example, with the Token Explorer feature, you can seamlessly find tokens before the masses, sites like CoinGecko, and crypto whales. If you’d like to learn more about this, check out our guide on how to find up-and-coming crypto

You should also know that you can supercharge the features of Moralis Money by subscribing to the Moralis Money Pro plan. This will give you access to a private Discord server, the best crypto whale tracker, premium education, and much more: 

Also, if you liked this article, then you might want to check out some more content here on the Moralis Money blog. For example, please read some of our other coin articles: MAGA TRUMP coin, OETH crypto, or OGN coin
WRITTEN BY David Olsson
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