Numeraire (NMR) Price

Numeraire is an ERC20 Ethereum token. All issued Numeraire are sent to Numerai, the hedge fund behind NMR. By performing well in Numerai’s machine learning competition to predict stock market performance, data scientists will earn Numeraire on an ongoing basis. When data scientists are confident of the predictions they have made, they send Numeraire to the Numeraire Ethereum smart contract. Those data scientists whose predictions performed well earn dollars based on the auction mechanism, and their Numeraire are returned. Those data scientists whose predictions did not perform well on new data risk having their Numeraire destroyed.