The RMRK price update as of now is $0.3610. In the previous 24 hours, its trading volume was $11,515, and its value has increased by 4.15%. As of now, RMRK's live market cap is $3,283,503, and it is ranked as the #4381 on the Coincu. RMRK has a circulating supply of 10,000,000 and a maximum supply of 10,000,000.

Introducing RMRK Protocol

RMRK.app is a key component of Kusama's NFT strategy, offering a standardized and structured way to write custom notes on the chain using Kusama's system.remark extrinsic. This protocol operates on the Kusama blockchain.

The native utility token used in RMRK is called $RMRK. It serves various purposes:

• It acts as a currency in the RMRK metaverse(s).
• It helps prevent spam of fungible tokens.
• It plays a role in curation, governance, and collateral in various platforms and protocols.
• It abstracts the multi-chain architecture, facilitating minting, trading, and interaction with NFTs in the ecosystem.
• It can be used as a whitelabel for RMRK products and apps.

Understanding How RMRK Works

This project addresses the challenge of hosting NFTs on the Kusama Network, which lacks smart contract functionality. RMRK tackles this issue by attaching transaction information to a block.

RMRK organizes NFTs into collections, each with its own context. The initial collection, called Kanaria, revolves around the theme of hatching different species of canaries. Although these are not traditional NFTs, they are still images that come with extras such as consumables and emojis. RMRK follows the concept of Art Legos, allowing protocols to be customized.

RMRK Products

Kanaria: The debut official NFT collection of RMRK is Kanaria, showcasing the potential of next-generation NFTs through the RMRK 2.0 protocol. The collection features eggs that hatch into canaries based on randomness from the blockchain and external influences like emojis.

Singular: Singular is RMRK's official NFT marketplace and mint platform for early Kusama-native NFTs. It enables users to create their own unique NFTs without a deep understanding of blockchain technology. Users can also directly sell their NFTs on the Singular exchange.

Singular offers environmental friendliness, low transaction fees, and on-chain creation of NFTs.

RMRK Roadmap