NetMind Token (NMT) Price

What is NetMind Token?

NetMind Token (NMT) is the native utility token of the NetMind Power platform, a decentralized computing network designed to harness idle GPU resources for AI and machine learning tasks. Built on the Ethereum blockchain, NMT powers the NetMind ecosystem by facilitating transactions, rewards, and governance. The platform aims to democratize access to AI computational resources, enabling developers, researchers, and professionals to train, fine-tune, and deploy AI models at scale without relying on centralized infrastructure.

NetMind Power uses advanced technologies such as grid and voluntary computing scheduling and load balancing to integrate heterogeneous computing resources globally. The platform's decentralized nature, governed by NetMind Chain, ensures transparency, security, and efficiency in managing all transactions and functions.

Users contributing computational resources to the network are rewarded with NMT tokens, which also serve as incentives for staking and governance participation. This decentralized ecosystem empowers users worldwide to engage with AI and machine learning on an unprecedented scale.

How Does NetMind Token Work?

NetMind Token (NMT) is the lifeblood of the NetMind Power platform, serving multiple roles to support its ecosystem. Here's how it functions:

Incentivizing GPU Contribution

Users can contribute their idle GPUs to the NetMind network, providing computational power for AI model training, inference, and fine-tuning. In return, they are rewarded with NMT tokens, promoting a distributed and scalable resource-sharing model.

Staking Mechanism

Users can stake their NMT tokens against Mind Nodes, with a specific focus on the top 21 "Master Nodes," which secure and optimize the network. Staking not only strengthens the platform but also offers participants rewards based on their contributions.

Governance

As a utility token, NMT allows holders to influence decisions on the platform through the NetMind DAO. This governance structure ensures that users have a say in critical aspects of the platform's development and direction, fostering a collaborative community.

Payment Utility

NMT is used to pay for computational resources and services on the platform, such as GPU rentals for AI training and inference. This creates a seamless ecosystem where tokens flow naturally between users and the platform.

Ecosystem Expansion

A portion of NMT is dedicated to the Ecosystem Growth Fund, which drives platform adoption, supports developers, and enriches the overall ecosystem with new innovations.

NetMind Token Founding Team

NetMind Token is the brainchild of Kai Zou, the founder and CEO of NetMind.AI, an AI research and software company based in London, UK. Kai Zou brings extensive expertise in AI and blockchain technology, spearheading the vision of integrating decentralized computing with AI advancements. His leadership ensures that NetMind Power is a cutting-edge platform designed to democratize AI resources globally.

Under his guidance, the NetMind team has developed a robust infrastructure that combines the best of blockchain and AI, empowering researchers, developers, and professionals to access high-performance computing without the barriers of centralized systems. The platform’s commitment to innovation and scalability reflects the team’s dedication to advancing both AI and blockchain technologies.

NetMind Token Tokenomics

NetMind Token (NMT) has a carefully structured tokenomics framework designed to ensure sustainable growth and incentivize participation within the ecosystem. Starting from April 16, 2024, a total of 113 million NMT will be issued over the next 10 years under the updated tokenomics plan. The allocation is as follows:

Mining Rewards (55.31%)

62.5 million NMT are allocated to reward contributors providing computational power for GPU rentals, AI training, and inference:

20 million NMT distributed in the first 2 years

15 million NMT in the subsequent 2 years

Gradually decreasing to 5 million NMT in the final 2 years.

Staking Rewards (14.60%)

16.5 million NMT are set aside to reward users participating in staking and providing liquidity:

4 million NMT in the first 2 years

Gradually decreasing distributions over subsequent periods.

Ecosystem Growth Fund (14.60%)

16.5 million NMT allocated for expanding and enriching the ecosystem:

Distributed incrementally over several periods to support platform growth and adoption.

Strategic Investors & Advisors (6.64%)

7.5 million NMT reserved for key partnerships and advisors:

3 million NMT distributed in the first 6 months.

The remaining distributed over the next 4.5 years.

Team Fund (8.85%)

10 million NMT allocated to the NetMind technical team:

No distributions in the first 6 months.

6 million NMT distributed over the next 4.5 years.

4 million NMT distributed in the final 5 years.

The issuance schedule and allocation percentages ensure that NMT supports platform operations, rewards contributors, and promotes long-term sustainability. The smart contract governing these allocations ensures transparency and reliability.