What Is RMRK?

Dec 27, 2022
4 min read

This blog post will cover:

  • About RMRK (RMRK)
  • Where did RMRK (RMRK) come from?
  • What are the advantages of RMRK (RMRK)?
  • What are the disadvantages of RMRK (RMRK)?
  • How to buy RMRK (RMRK) on SimpleSwap?


RMRK is a token of the Remark application. It is built on the Kusama blockchain, which is the canary network of the Polkadot blockchain. This platform allows developers to create NFTs easily using the blocks that are already available. The idea is that anyone can build an NFT with small details, just like with Lego. NFTs here can be owned or equipped by other NFTs. For example, some characters can have a hat, a backpack, or a helmet. NFTs created on this platform are liquid and compatible with the connected parachains. In order to start using the platform, customers have to go through the verification process, after which everyone is granted with 10 RMRK tokens.The most expected project of the team is called Kanaria. It produces NFT collectible birds that are hatching from the limited-issued eggs. Kanaria represented a new feature, on-chain emotes, that enables users to leave reactions on NFTs. Kanaria became a fully developed ecosystem that has a secondary market where bird owners can trade such items as backgrounds and wearables.

Where did RMRK (RMRK) come from?

RMRK token was issued on September 15, 2021. The total supply is 10,000,000 RMRK. 5% of tokens are locked, and the team will be able to access them in two years.RMRK token was issued on September 15, 2021. The total supply is 10,000,000 RMRK. 5% of tokens are locked, and the team will be able to access them in two years. The core team of the project includes 4 people: Bruno Škvorc, former web and Flash developer, and Ethereum employee; Yuri Petushko, Dapp developer; Yuri G., front end/React JS developer; and Ilia, co-founder.

What are the advantages of RMRK (RMRK)?

  • Multi-resources NFTs
    NFTs created on the RNRK platform may have different outputs. For example, a pdf sourced NFT can be opened as a text file or as a preview image, depending on the program.
  • Conditional rendering
    Some elements of the NFTs can be changed according to the prescribed conditions, such as background changing.
  • Marketplace
    Starting from the version RMRK 1.0 the platform has its own NFT marketplace.

What are the disadvantages of RMRK (RMRK)?

For now it is really difficult to talk about its disadvantages since the network is developing. So far the only one feature seems to be dissatisfying:

  • Staking is impossible
    The token is deflationary, which makes it impossible to stake in order to get more tokens. On the other hand, users have to stake tokens to report someone or to make their NFTs viewable.

How to buy RMRK (RMRK) on SimpleSwap?

If you would like to be a part of the RMRK network and get some tokens, we are happy to help you. Please follow the instructions below:

  • For example, you want to swap BTC for RMRK. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select RMRK in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. RMRK will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to RMRK exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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