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The NEM was initially created under the name "Utopian Future". The initial plan was to build the NEM from an NXT "Fork", but this was ruled out in favor of further development. On 19 January 2014, an open invitation to participate in the "Bitcointalk" forum was published. The purpose of the call was to create a new encryption development group. The NEM project was not a legal entity at the time, but there have recently been efforts to change that. Initially it was envisaged that NEM's actions would be distributed to all who contributed to the project.
The Alpha version was released on June 25, 2014. Subsequently, the beta production version was released on October 20, 2014. NEM released its first stable version on March 31, 2015. A new version is planned for 2017, and may bring some innovations.
NEM is written in Java with some modules in C ++. The main objective is to build a broad distributed model and introduce new technological resources into the blockchain, such as the Proof of Importance (POI) algorithm, multi-account assignment, encrypted messages and an Eigentrust ++ reputation system. The NEM blockchain software is used in a commercial block chain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally. So it's an interesting altcoin to follow closely.