Numeraire Price

Introduction to NMR Cryptocurrency

Overview:
NMR (Numeraire) is a cryptocurrency and software created by a hedge fund, designed to facilitate stock trading on the Ethereum blockchain. It was launched in 2017 as the world's first cryptocurrency issued by a hedge fund.

Uses:
The primary use of NMR is to incentivize data scientists and creators of prediction models to participate in the Numerai platform. Users can stake their prediction models with NMR tokens to earn rewards based on the model's predictive results.

How It Works:
The Numerai platform allows developers and data scientists to experiment and create more reliable machine learning models. The main goal of the platform is to introduce decentralization in the field of data science and allow developers to compete in creating effective machine learning prediction models.

Token Distribution:
NMR tokens were not initially issued through an Initial Coin Offering (ICO), but instead decided to distribute 1 million NMR tokens to the top 12,000 platform users based on their activity and performance.

Team:
Numerai was founded in 2015 and is led by Richard Craib, a technology expert with in-depth knowledge in financial markets and artificial intelligence.

Features:
The creation of NMR tokens aims to incentivize data scientists and model creators to share their prediction algorithms and reward them for their contributions. Through incentive mechanisms based on cryptocurrency and blockchain technology, the platform promotes collaboration and innovation in the data science community.Numerai company hopes to attract more data scientists and model creators to contribute their wisdom and algorithms to their platform. ### 2. Who founded nmr? Cryptocurrency NMR (Numeraire) was founded by Richard Craib, who is the founder and CEO of Numerai. Numerai is a San Francisco-based hedge fund financial technology company focused on using artificial intelligence and machine learning for financial modeling and prediction. ### 3. Which venture capitalists invested in nmr? According to the information provided, the following venture capitalists invested in the cryptocurrency NMR (Numerai): 1. **Renaissance Technologies** - led by Howard Morgan. 2. **Union Square Ventures**. 3. **Polychain** - led by Olaf Carlson-Wee. 4. **Placeholder**. 5. **Paradigm**. 6. **AngelList** - Alexander Pack invested in Numerai during his time at AngelList. 7. **Augur partner Joey Krug**. 8. **Filecoin and IPFS partner Juan Benet**.

These investors supported Numerai's development at different stages.