NEM, launched in March 2015, stands out as a pioneering blockchain platform in the cryptocurrency industry, aiming to enhance the deficiencies observed in other chains of that era. It introduced several innovations such as user-defined tokens (known as mosaics), namespaces, multisignature accounts, and a P2P reputation system based on EigenTrust++. Notably, its proof-of-importance consensus mechanism was a significant contribution, incentivizing on-chain activity and mitigating the wealth concentration often associated with proof-of-stake. NEM's client, NIS, is developed in Java. With a global community, NEM finds significant utility as an alternative payment solution for businesses and vendors. Notably, it has spawned various social media applications in Japan, such as nemgraph, a community-driven alternative to Instagram. In December 2021, NEM underwent a hard fork led by a pseudonymous group of cryptocurrency experts and enthusiasts, known as Harlock. This hard fork signaled the community's ambition to elevate NEM from its previous state into the forefront of payments platforms for both on-chain and off-chain media content.