What Is RMRK Protocol (RMRK)?
RMRK is evolving Web3's broader NFT strategy with an emerging suite of NFT legos, now available in EVM environments. These legos allow for NFT collections of arbitrary complexity to make use of newly available multi-asset, nestable, equippable, emotable, and nestable-soulbound NFTs.
The protocol emerged from the Substrate ecosystem in early 2021, and as recently as 2022 has implemented a number of Ethereum Improvement Proposals - including ERC-5773 and ERC-6059 - making multi-asset and nestable NFTs possible on the Ethereum Mainnet and across EVM evironments.
$RMRK is the native utility token that is used for:
- Currency in the RMRK metaverse(s) such as Skybreach
- Currency in the official RMRK marketplace, Singular
- Preventing fungible token spam
- Curation in NFT galleries
- Governance of platform-wide parameters
- Curation in RMRK-launched but not necessarily NFT-related products
- Collateral in DeFi protocols like Karura and others.
- Abstraction of the multi-chain architecture: using RMRK tokens to mint, trade, and generally interact with the NFTs in our ecosystem.
- Whitelabel of RMRK products and apps
- Use of $RMRK tokens to fund your account for use with applications like BadCall
RMRK tools include:
- RMRK tools to interact with NFTs on the command line and in web apps
- RMRK spec to write your own implementation
- RMRK pinning tools to pin for IPFS and regularly clean outdated pins from services like Pinata
- A standalone, embeddable renderer for RMRK2 composable NFTs
How Many $RMRK Tokens Are There in Circulation?
Of the 10,000,000 $RMRK supply, 88% of the tokens were fairdropped to the community who bought Kanaria eggs.
Out of the 11% remaining tokens, 5% are locked for the founding team and the rest is loaned out to market makers for exchange liquidity. There is no inflation. There is no buyback program due to the immense utility of the token across the RMRK ecosystem.
Who Are the Founders of RMRK?
RMRK was started in August 2020 by Web 3 Foundation's then-technical educator Bruno Škvorc. The team was expanded to a team of 4 in February of 2021 and registered as a Swiss Verein. Yuri Petusko, Ilia Dvornikovs, Yuri Girjanskis, and Bruno together composed the specification and tools for RMRK and RMRK 2.0, which is now the basis of the most advanced NFT system in the world.
Where Can I Buy RMRK?
For more information about RMRK and the $RMRK token, it's utility in the Substrate ecosystem please visit https://singular.app/tokens