RMRK (RMRK)

What Is RMRK Protocol?

RMRK.app is a part of Kusama's broader NFT strategy and a way to abuse Kusama's system.remark extrinsic to write custom notes onto the chain in a standardized and structured way. The protocol runs on the Kusama blockchain.

$RMRK is the native utility token that is used for:

• currency in the RMRK metaverse(s).
• preventing fungible token spam
• curation in 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• RMRK pinning tools to pin for IPFS and regularly clean outdated pins from services like Pinata A standalone, embeddable renderer for RMRK2 composable NFTs 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 does the project work?

The project solved the problem of containing NFTs on Kusama. Due to the lack of smart contracts on the chain, the Kusama Network is not capable of hosting NFTs. But by attaching transaction information to a block, RMRK was able to solve this problem.

RMRK NFTs are allocated into collections. Each collection will have their contextualization. In addition, Kanaria is known as the first collection of the RMRK project with the theme of incubating eggs to give birth to different species of canaries. But these are not NFTs but simply still images. They come with extras and users can interact with them. This includes consumables and emojis. They allow protocols to be customized and the NFTs project will follow the Art Legos concept.

Products of RMRK

Kanaria: The debut official NFT collection is Kanaria, Kusama's Canaries, a limited set of NFTs represented as eggs from which different species of canaries will be hatched after a certain block. Depending on randomness from the blockchain itself and some external influence in the form of emojis (reactions) on the NFTs.

In particular, Kanaria is also a place to showcase the potential of next-generation NFTs through the RMRK 2.0 protocol.

The canaries hatched and were trading for ~5 million per month, with the most expensive being offered for 1250 KSM ($400,000 at the time).

Singular: is RMRK's official NFT Marketplace and Mint platform for early Kusama-native NFTs. Thanks to Singular, users can create their own unique NFTs in just a few simple steps without in-depth understanding of blockchain technology. In addition, users can sell NFTs directly on Singular exchange.

Singular has many typical features such as:

• Environmental friendliness.\
• Low Tx fee.
• Creaction on-chain on NFT

Roadmap

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