Question 1

What is the Numeraire (NMR) Coin?

Accepted Answer

What is the Numeraire (NMR) Coin?

The Numeraire (NMR) coin is the native token of the Numerai ecosystem. It’s an Ethereum-based ERC-20 token minted back in 2017. The NMR coin launched without an initial coin offering (ICO). Instead, the initial one million tokens were distributed among 12,000 data scientists already using the Numerai platform.

Learn more about the NMR coin in our Numerai article!

Question 2

Who Created Numeraire?

Accepted Answer

The creator of Numeraire is the underlying project: Numerai. Moreover, the creator of Numerai is Richard Craib, and he founded Numerai back in 2015. He has a background in quantitative finance and machine learning. His goal with Numerai was to build a decentralized hedge fund that leverages the power of AI and crowd-sourced intelligence.

Numerai was financed through four separate investment rounds between 2016 and 2020. During this time, Numerai managed to raise over $21 million. Some prominent investors are Union Square Ventures, Placeholder, Paradigm, etc.

Question 3

What’s the Role of the NMR Coin?

Accepted Answer

The NMR coin has many use cases and is essential to the Numerai ecosystem. Here are three examples:

Governance - The NMR coin is the governance token of Numerai. This means token holders can partake in essential decision-making processes regarding the platform's future.
Staking - Numeraire token holders can also stake their crypto to partake in the Numerai’s Tournament and Signals applications.
External Value - The NMR coin is also trading on multiple decentralized and centralized exchanges. It also has external value beyond Numerai as a potential investment.

Question 4

What's the Best Place to Buy Numeraire ($NMR)?

Accepted Answer

You can acquire the NMR coin from multiple exchanges; however, the easiest and best option is to use Moralis Money. All you have to do is scroll up on this token page and use the crypto-swapping feature to the right.

In our "Crypto Swapping 101" article, you can learn all the essentials about how swapping actually works. When finished reading that article, you'll have a solid understanding of how to swap on the Ethereum network, which the best coin swap sites are to execute the cheapest crypto swap, etc. That said, if Ethereum is your go-to choice, make sure to check out our "Ethereum Swap Sites Review" article!

Question 5

What’s Numerai?

Accepted Answer

Numerai was created back in 2015, and it’s an AI-enabled hedge fund combining machine learning, blockchain technology, artificial intelligence, and crowd-sourced stock market predictions to revolutionize finance and allow users to trade.

Numerai consists of two main components:

Numerai Tournament - Numerai Tournaments is a contest where users can stake Numeraire crypto and submit trading algorithms about the stock market, allowing participants to bet on likely outcomes.
Numerai Signals - Numerai Signals is a platform for uploading stock market strategies supporting a specific stock or trading style.