### What is Numeraire?

Numeraire (NMR) is an Ethereum-based ERC-20 token that serves as the native cryptocurrency of the Numerai platform. Numerai is a hedge fund that applies artificial intelligence and machine learning to enhance financial market predictions. The platform decentralises the data science competition, where data scientists can contribute AI models, with NMR acting as the incentive and staking mechanism.

### How does Numeraire work?

Numeraire operates by incentivising data scientists to develop and submit predictive models for financial markets. Participants stake NMR tokens on their models, which are evaluated based on prediction accuracy. Successful models receive rewards in the form of additional NMR, while models with poor performance are penalised, encouraging high-quality contributions. The platform leverages the Proof of Stake (PoS) mechanism and machine learning algorithms executed via smart contracts on Ethereum.

### What are the potential use cases for Numeraire?

Numeraire is primarily used within the Numerai platform for financial market predictions, but it also has broader applications:

1. **Financial Market Predictions:** Through its model competitions, Numeraire supplies a mechanism for advancing hedge fund operations by utilising AI-driven predictions.
2. **Beyond Finance:** It could be adapted for predictive modelling in healthcare and climate science, where accurate data-driven insights are crucial.
3. **Governance:** NMR holders can influence project developments through governance rights.
4. **Prediction Markets:** The token can be staked on outcomes of various real-world events, leveraging collective forecasting.

### What is the history of Numeraire?

Numeraire was founded by Richard Craib in 2015, with its initial minting on June 20, 2017, distributing 1 million tokens to participating data scientists without an ICO. The platform has undergone several funding rounds raising over $21 million to support its growth. Over time, Numerai introduced the Erasure protocol and Meta Model to enhance predictive capabilities and decentralise information validation. Recent developments have seen partnerships that integrate NMR into the DeFi ecosystem, expanding its functionality and increasing engagement within the crypto community.

Numeraire

AI Bundle

Worldcoin

Artificial Superintelligence Alliance

Arkham 

PAAL AI

ChainGPT

0x0.ai: AI Smart Contract

Artificial Liquid Intelligence

Agoras: Tau Net

Cortex

Sleepless AI

AIT Protocol

AIntivirus

AIPad

DeepFakeAI

enqAI

Edge Matrix Computing

Aegis AI

Numeraire (NMR)

Similar Coins

WLD

FET

ARKM

PAAL

CGPT

0X0

ALI

AGRS

CTXC

AI

AIT

AINTI

AIPAD

FAKEAI

ENQAI

EMC

AEGIS

Resources

Numeraire (NMR) Price Index

Numeraire Price

Trading volume

Market cap

Resources