RMRK coin: Benefits and uses explained
RMRK is a set of NFT standards that compose several "2.0 lego" primitives, allowing users to create NFT systems of arbitrary complexity. RMRK coin is its token.
Origins of RMRK
Bruno Kvorc, the Web3 Foundation's technical instructor at the time, established RMRK in 2020. RMRK began as a hobby project and has grown to a staff of 20 persons.
The RMRK team is the curator and primary developer of the RMRK standards and the Skybreach metaverse, as well as a for-profit corporation producing products on this infrastructure. The team wanted to make great goods, but the infrastructure on which to construct them did not yet exist. So, they opted to build the infrastructure first. This infrastructure is now open to the public.
The RMRK coin
The protocol's official token is RMRK. It is not essential to utilise the protocol. However, it can improve the experience and is required as a deposit for Sybil resistance and spam resistance when generating collections from the many supporting chains auto-added to Singular.
The maximum supply is ten million. There is no inflation, and the token is deflationary due to the loss of wallet access sometimes, as well as various mechanisms that lock up and periodically slice the tokens.
In a fairdrop, users can give 8.9 million (89% of the current circulating supply) Kanaria eggs to original Kanaria egg purchasers. 5% is locked for the core team to access after two years (1-year cliff, one-year linear vesting per block), while the rest of the supply is with the community. Investors cannot airdrop new Kanaria NFT purchases.
Where can you buy the coin?
Users can purchase the currency on the following exchanges:
KuCoin - This cryptocurrency exchange presently supports the trade of more than 300 popular tokens. It is the first to provide purchasing options for new tokens and is currently open to international and US citizens.
Gate.io - gate.io was founded in 2013 and is among the most popular and respected exchanges. It accepts payments from most foreign countries, including Australia and the United Kingdom. Residents of the United States and Canada are, however, not permitted.
Why choose to use RMRK coin?
The token provides users with benefits they should not overlook, such as a way to earn passive income, trade, or use it within the network. Finally, its goal is to provide a set of NFT legos and an easy way to handle NFTs.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.