Crypto Conversation: For Numerai, Trust Is More Than a Token Gesture

What’s hot in crypto this week? 

It’s the Numeraire token, NMR. Numerai launched in 2015 as a hedge fund that uses crowd-sourced data science techniques to fuel its investment strategy. The team created the token, NMR, in 2017 for data scientists to stake and compete in Numerai’s monthly tournaments. 

NMR was launched as an ERC-20 token on the Ethereum blockchain. In 2018, its maximum supply was cut in half to promote decentralization. Last year the team sold $11 million in tokens in a round led by the crypto-focused investment firm Paradigm and the venture capital firm Placeholder.