NMR Coin, also known as Numeraire, is a cryptocurrency that was created by the hedge fund Numerai. Numerai is a hedge fund that uses artificial intelligence to make investment decisions in the stock market. The purpose of creating NMR Coin was to incentivize data scientists to contribute their predictive models to the Numerai platform.

Data scientists from around the world can submit their predictive models to Numerai and earn NMR Coin based on the performance of their models. The better their models perform, the more NMR Coin they can earn. This creates a competitive environment where data scientists are motivated to continuously improve their models in order to earn more NMR Coin.

NMR Coin can be used within the Numerai ecosystem to stake on predictions or to participate in tournaments. Staking on predictions allows users to potentially earn more NMR Coin if their predictions are accurate, while participating in tournaments gives users the chance to compete against other data scientists for additional rewards.

Overall, NMR Coin plays a crucial role in incentivizing data scientists to contribute their predictive models to Numerai and helps to create a community of individuals who are motivated to collaborate and innovate in the field of artificial intelligence and finance.