Numerai recently released a blog post outlining the new Master Plan for their platform.
"The core idea of Numerai was to give away all of our data for free, and let anyone train machine learning algorithms on it and submit predictions to our hedge fund."
By hosting weekly tournaments, Numerai turns data science into a game that anyone around the world can play and win money.
Here's the latest tournament that has been "resolved" where Numerai paid out $6,774.78 to the top data scientists that entered the competition.
In short, Richard Craib's Master Plan for Numerai is to completely take over the entire world of money management.
Here's a great talk with Richard on This Week in Startups.
It's great that they show the lifetime USD earnings for the data scientists. This kind of information is extremely important for open platforms.
The top 10 data scientists on Numerai have earned in total $30,388.68
"Monopolizing intelligence involves getting all the talented data scientists in one place working together on one hedge fund rather than duplicating work in a zero sum game across multiple hedge funds."
Here's what the data-set looks like.
Currently, I'm down 38% on NMR but I like the long-term potential of a platform that uses gamification and monetary incentives to improve the financial models for their hedge fund.
Only time will tell if this turns to be a good investment in the crypto space but I really like the concept.
