RMRK

Overview

RMRK (pronounced 'remark') is a protocol built for NFTs on the Kusama network. It provides advanced NFT functionality including nested NFTs (NFTs that can own other NFTs), multi-resource NFTs (NFTs that can change their media), conditional rendering, and NFT legos.

Purpose and Utility

The RMRK token serves as the governance token for the RMRK protocol. Token holders can participate in decision-making regarding protocol upgrades and parameters. The token is also used to incentivize development and adoption of the RMRK NFT standards.

Business Model & Development

The project focuses on expanding NFT capabilities beyond basic digital collectibles. The development team remains active, with regular updates to the protocol and tools. The project has partnerships with several Polkadot/Kusama ecosystem projects.

Token Distribution

The token distribution includes allocations for team members, early supporters, and the community treasury. There are vesting schedules in place for team tokens to align long-term incentives.

Current Usage

The protocol is being actively used for NFT projects on Kusama, though adoption remains relatively modest. The main focus is on technological development rather than marketing hype.

Revenue Model

The protocol does not involve interest-bearing products or lending. Revenue is generated through protocol usage and NFT marketplace fees.