By Rayna Ishihara | Crescent City Capital Market Analyst Intern
What is Render
The Render Network is a decentralized platform that allows artists to scale GPU rendering work using a blockchain marketplace for idle GPU compute. This allows artists to scale GPU rendering work on-demand at a fraction of the cost and with significant increases in speed compared to traditional centralized rendering methods. By contributing their unused GPU power, users earn Render tokens (RNDR), the native utility token of the Render Network. Render Token is a project launched by Jules Urbach in 2016, who is also the CEO of OTOY Inc., a cloud-rendering firm and the parent company of Render Network.
The demand for high-quality 3D graphics and visual effects has increased in various industries nowadays. Rendering plays a vital role in creating immersive and realistic experiences for applications such as animated movies, online gaming, industrial applications, and the crypto metaverse. Render Network is a platform that uses blockchain and innovative technologies to streamline the rendering process.The platform’s peer-to-peer (P2P) network provides affordable and efficient access to underutilized computational resources, streamlining rendering and streaming processes for 3D environments and other visual effects.
The Render Network addresses three main challenges in GPU rendering: scalability, optionality, and IP protection. Render offers a decentralized GPU rendering network that can scale up or down according to user needs, making it a cost-effective and efficient alternative to localized market solutions. Users also have greater flexibility in commissioning jobs or offering their surplus GPU power, minimizing the need for expensive data centers. Render’s blockchain-enabled digital management system ensures IP protection, encrypts user data, and provides a secure and immutable platform for creators throughout their creative journey, safeguarding their rights.
Render Network operates on the Ethereum blockchain and uses smart contracts for transparent transactions. It allows artists and content creators to submit rendering jobs for processing by the decentralized network, providing access to high-quality rendering for a broader range of users. RNDR Tokens, which are used within the platform, can be stored in any ERC-20-compliant wallet and exchanged on any ERC-20-compliant exchange.
On the RNDR Network, users submit tasks and the required amount of RNDR Tokens are automatically calculated for the task. GPU owners use OctaneRender to perform the necessary tasks, and RNDR Tokens are used to compensate them directly, eliminating the need for a middleman. The tokens can also be used for global value transfer, and a percentage fee is charged for each transaction to fund the future growth and operation of the RNDR Network.
The ICO for RNDR Tokens occurred from October 6 to October 12, 2017, during which 4,650,922 tokens were sold at a price of US$0.25 per token.
The Render Token allows anyone to share their unused GPU power easily, connecting users who need to perform rendering jobs with those who have idle GPUs. This eliminates technical barriers and saves users time and money, as they don’t need to purchase high-end computers to handle these tasks in-house.
RNDR tokens are the primary utility token of the platform, used for compensating those who perform render work and for global value transfer. A small percentage fee is charged on every RNDR transaction to fund the future development and running of the Render Network. RNDR is available on various top centralized exchanges, including Huobi Global, HitBTC, KuCoin, Hoo, and Gate, but there are currently no fiat/RNDR trading pairs. Therefore, users need to convert their fiat to Bitcoin or Ether first before trading for RNDR.
The live RNDR price on August 5th is $1.85 USD with a 24-hour trading volume of $143,888,609 USD. It has a circulating supply of 369,614,008 RNDR tokens.
Render is a platform that uses blockchain and innovative technologies to streamline the rendering process. It addresses three main challenges in GPU rendering: scalability, optionality, and IP protection. Render offers a decentralized GPU rendering network that can scale up or down according to user needs, making it a cost-effective and efficient alternative to localized market solutions. The Render Token allows anyone to share their unused GPU power easily, connecting users who need to perform rendering jobs with those who have idle GPUs. RNDR tokens are the primary utility token of the platform, used for compensating those who perform render work and for global value transfer.