RMRK

RMRK

RMRK

A part of Kusama's broader NFT strategy

Current price

$14.5

Price Chart

What is RMRK?

RMRK (pronounced "remark") is a set of standards on the Kusama blockchain which compose five "NFT lego" primitives. Putting these legos together allows a user to create NFT systems of arbitrary complexity. Additionally, by leveraging this logic and Kusama's multi-chain architecture, these NFTs are eternally liquid and forward-compatible with as yet unannounced projects, and seamlessly portable to any connected parachain.

Nested NFTs

NFTs that can own other NFTs, and NFTs that can equip other NFTs to change their output media. As an example, imagine an in-game character who owns a backpack which in turn owns some health potions. The character can also own and equip another NFT, a helmet.

This logic is available on RMRK 2 and above.

On-chain emotes

On-chain reactions, like you would expect when opening an emoji keyboard, sent to any NFT. Any UI implementing this specification is able to show the full range of recieved emotes, allowing for social mechanics and relative price discovery across NFTs.

This logic has been available since RMRK 1.

Multi-resource NFTs

NFTs are able to have different outputs which can also depend on context. As an example, an ebook can have a PDF resource, a cover resource, and an audio file resource. If you load it into Audible, it can automatically play. If you load it into Kindle, it will open in reading mode. If you load it into an NFT environment which is limited in functionality, like one on Ethereum, you get the default view - a cover image.

This has other uses, too: an NFT that is purely an image can use multiple resources as a redundancy for assets. One resource can be the image on HTTP, then the same image on IPFS, then the same image on Arweave. By having this redundancy on the NFT level, the NFT is guaranteed to remain viewable much longer than traditional NFTs.

Another example comes into play when you consider an NFT with multiple images representing the same concept. For example, an attendance badge or a company logo can evolve over time by getting a new resource after the fact. The owner of the NFT is able, at any time, to switch priority of display on the resources, so they can make the current logo default.

An example of a multi-resource NFT is the Meme God Crown, or these Khala glasses. Inspecting either will reveal that they have two versions - a richly illustrated one, and one that's modeled to be equippable on the Kanaria birds. This is how standalone NFTs are made equippable by any project into the future, without knowing what's coming up and planning for it.

This logic has been available since RMRK 2.

Conditional rendering

Conditional rendering is the ability to apply certain conditions to an NFT's output.

As an example, if we put the "On-chain emotes" and "Multi-resource NFTs" legos together, we can imagine an image of a Mona Lisa with two resource: normal Mona Lisa, and blushing Mona Lisa. We can then define a rule that says "if this NFT gets more than 50 ???? emoji, show the blushing Mona Lisa resource as a priority". Another example is, "If this NFT gets 100 ❄ emoji, change the background element from beach to snow".

Conditional rendering is becoming available with RMRK 2.1 and uses JsonLogic.

NFTs as DAOs

NFTs on RMRK can be tokenized into fungible tokens. These tokens can then be used to govern the NFT's functions. For example, a democratic decision to make an NFT avatar equip one sword over another, or a collaborative decision making process on a collective musical composition NFT where votes are taken on where to place each note, layer, and instrument. These tokens can then be used to distribute royalties from sales proportionally.

NFTs as DAO will become available with RMRK 3 and the transition to pallets and smart contracts.

RMRK-based projects

Official

Singular: the official NFT marketplace for RMRK 1.0 NFTs

Kanaria: NFT birds that can wear other standalone NFTs, equip and unequip items, and have multiple resources - the first production demo of RMRK 2.0

Third-party

Kodadot

KSMGallery by Everdreamsoft

The RMRK Token

The maximum supply is 10'000'000 (10 million). There is no inflation, the token is deflationary by design due to some stake-to-report and stake-to-curate mechanics to be announced (see curation and verification below). This can change by vote of the RMRK DAO when it's up an running, once RMRK has moved its protocols onto a parachain.

8.9 million (89%), the current circulating supply, was distributed to original Kanaria egg purchasers in a fairdrop. New purchases of Kanaria NFTs are not airdropped any tokens.

5% is locked for the team to access after 2 years (1 year cliff, 1 year linear vesting per-block), and the rest of the supply is with the community.

There will be no private or public sales of the RMRK tokens.



Key Metrics

Market Cap:
$134,186,567
24h Volume:
$19,749,621
All time high:
$66.2
All time low:
$3.5

Token Allocation

Token Circulation

Total supply
10,000,000
Cir. supply
9,500,000

Investors