Numerai Hedge Fund Offers $50M in NMR Tokens for Fresh Stock Market 'Signals'

Hedge fund Numerai is offering $50 million of its numeraire (NMR) token to quants, researchers and even fellow funds that provide original stock market “signals” into its data clearinghouse, Numerai Signals.

• The startup said its new system will allow anyone to monetize novel market intelligence by sharing it with Numerai, whose data scientists have long crowdsourced trading strategies.
• This can yield higher returns than if the individual personally traded on the stock market signals, Numerai claims.
• One caveat: Only current NMR tokenholders (and those interested in amassing yet more NMR tokens) can participate. Numerai will reward profitable signals based on the source’s staked NMR.
• NMR was trading 8% higher on Monday, according to CoinGecko, however the day's largest pop preceded the public unveiling of Numerai Signals.