RMRK: Nested, Conditional & Multi-Resourced NFTs

WHAT IS RMRK (RMRK)?

RMRK.app is a part of Kusama's broader NFT strategy. Notes on the chain are applied in an exceedingly standardized and structured way. The protocol runs on the Kusama blockchain.

RMRK is the native utility token that is used for:

• Currency within the RMRK metaverse(s) 
• They are preventing fungible token spam. 
• Curation in galleries: 1. For governance of platform-wide parameters 2. For curation in RMRK-launched but not necessarily NFT-related products 3. For collateral in DeFi protocols like Karura et al.. 4. For an abstraction of the multi-chain architecture.

WHO OWNS RMRK (RMRK)?

RMRK was started in August 2020 by Web 3 Foundation's then-technical educator Bruno Škvorc. The team was expanded to 4 in February of 2021 and registered as a Swiss Verein. Yuri Petusko, Ilia Dvornikovs, Yuri Girjanskis and Bruno composed the specification and tools for RMRK and RMRK 2.0 currently considered in certain circles the most effective advanced NFT system within the world.

RMRK (RMRK) KEY FEATURES

• RMRK tools to interact with NFTs on the program line and in web apps
• RMRK spec to quantify performance
• RMRK pinning tools to pin for IPFS and frequently clean outdated pins from services like Pinata
• A standalone, embeddable renderer for RMRK2 composable NFTs

UNIQUE WAYS TO WANT ADVANTAGE OF RMRK

• Multi-resources NFTs: NFTs created on the RMRK platform have different outputs. For representatives a pdf sourced NFT will be opened as a preview image or a computer file reckoning on the program.
• Conditional rendering: Some elements of the NFTs are changed per the specified conditions, like background changing.
• Marketplace: Starting from the version RMRK 1.0 the platform includes its own NFT marketplace.

How Does RMRK (RMRK) Work?

The Kusama chain doesn't in itself have the flexibility to harbor NFTs. This is often because of the shortage of smart contracts on the chain as seen on Ethereum. However the RMRK.app team could work around this by attaching information alongside a block.

RMRK NFTs are divided into collections which are groups of individual NFTs that contextualize them. For example, Kanaria is the project's first collection with the theme of hatching eggs to reveal birds.

However, these don't seem to be regular non-fungible tokens that are still images. With users having the ability to interact with them gaining value with this additional functionality. This includes the highly-customizable protocols such as the power to 'emote ' and 'consume.' Ultimately, RMRK NFTs will follow the concept of Art Legos.

What is the RMRK Token Used For?

There are primary uses of the RMRK token:

• RMRK will play a big part in governance. This can be important because the project is creating a multi-chain design, so holding the tokens will allow users to make critical decisions in its growth and manage the event of the project.
• Staking is another use, which is finished to mint official Whitelabel NFTs or turn NFTs into DAOs. The tokens are used as collateral on DeFi platforms with which the project will partner. They will even be staked as bridge collateral, helping to support non-substrate external chains.
• RMRK is used because of the metaverse projects' currency.
• The Token Generation Event is arriving happens once the statement chain evolves permissionless.

ECONOMIC ANALYSIS

RMRK provided investors with a 322% return on investment (ROI) over the last month. Although the number is quite considerable, RMRK underperformed in 'Metaverse, Non-Fungible Tokens (NFT), Polkadot Ecosystem' categories which had 4467% growth over the past year. RMRK underperformed in the crypto market, which had 23967% growth over the past year.

RMRK's Popularity

Popularity potentially impacts the success of a cryptocurrency project. Data shows that RMRK's popularity on Twitter grew by 134% over the last five months increasing to 20k followers as of writing this post on December 8, 2021. RMRK's Telegram channel subscribers grew 38%, respectively.

RMRK's Market Cap And Price

RMRK's market cap jumped significantly between November 11 to 4, 2021 and was bearish until December 8, 2021 as of writing. RMRK's Market Cap rank and coin price have started a recent downward trend with coin ranking #195 currently. Interestingly though, it should be noted that RMRK's price is 1316.3% above its All-Time Low and 25% lower than All-Time-High.

How fruitful would RMRK be and an investment?

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