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# System prepended metadata

title: Press Release - Token

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# Press Release - Token

Zug, 29 Sept - The RMRK Association announces that the $RMRK token, the utility and governance token of the most advanced NFT protocol created to date, is now available for purchase on Kucoin and Gate. 

This is the very first Statemine fungible token to be available for trading globally. Statemine is a public-good parachain on the [Kusama network](https://rmrk.link/3oifzpJ), Polkadot's canary network, designed to be the canonical balance-keeper of thousands of different fungible and non-fungible tokens. RMRK is the first such token to become globally tradable through CEXes.

Some of $RMRK's many utilities include:

- a metaverse currency
- staking to mine resources in a Play to Earn metaverse
- sponsorship to go carbon-negative during the minting of NFTs
- governance of platform parameters like fees, commissions, stakelocks and more
- curation and verification of fellow artists on the flagship marketplace [Singular](https://rmrk.link/3CQNXvI)
- collateral in DeFi
- and more...

The token was given away in a [fairdrop](https://rmrk.link/3CYfewe) to buyers of NFTs during April's and May's NFT sale, and is 89% in the hands of the community.

With the team keeping only 5% for 2 years and all other holders being unlocked on day 1, RMRK is one of the most egalitarian token distributions to date.

Learn more about the token's full list of utilities, marketcap, and other details on RMRK's [dedicated token page](https://rmrk.link/3zSFu9F).

As a reminder, the RMRK protocol is a system of **NFT Legos** which allows developers and designers to build composable, equippable, multi-resource NFTs which are multi-chain by default by virtue of being launched on Kusama, the center of a multi-chain universe. The NFTs can visually change based on other NFTs they own, but these NFTs are also eternally liquid and forward-compatible in that they can be made equippable by unrelated future projects that aren't even planned yet.

With RMRK tokens in the hands of the community, the protocol is now truly to NFTs what Ethereum was to Bitcoin - a paradigm shift that takes a single thing's single use-case and inifinitely supercedes and augments it.