Daily Mover: NMR▲

Why should I trust you? The Numerai way.  

NMR FCAS climbed 71-points in the past two weeks with the growth of its new marketplace for trustworthy information. Price increased 23.33% in the same time period. 

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

NMR was launched as an ERC-20 token and distributed via airdrop. 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 Paradigm and Placeholder.  

Fundamental Data: NMR FCAS climbed 71-points (10.22%) in the past two weeks, due to a 76-point (10.8%) spike in Developer Behavior and a 75-point (10.72%) climb in User Activity. Market Maturity also increased 46-points (6.53%).

Use the FCAS Tracker to view NMR’s FCAS history.

Recent Events: On March 10th, the Numerai team launched Erasure Bay, a marketplace for trustworthy information. Users can either buy information or get paid for providing it. The key difference with a normal trade is that money is only exchanged if the information matches what the buyer wanted. That’s not all. The seller can even lose money for sharing spam or bad information.  

Analysis: Staking has worked as a quality mechanism for Numerai in the past, as part of their data science tournament. In creating Erasure Bay, Numerai is building a generalized version of that mechanism to apply beyond stock market predictions. The spike in user activity we’re witnessing suggests that there is both demand and supply for this type of marketplace.

Not only does it provide access to data and information that would otherwise be hard to find, but the new incentive mechanism also enforces trust without reputation. By putting the influencer and the guy next door on the same playing field, Erasure Bay is making available a much broader store of trustworthy data to draw on.

Perspective: The Erasure protocol could even change the way we date. On the protocol’s homepage, erasure.world, the use case is clear : staking for online dating where you can burn the other person’s stake if they ghost you, show up late, or turn out to be super rude.


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