- 7 Mar, 23
Render Token (RNDR) 101: Unlock the Faster Rendering Experience
What is Render Token (RNDR)? Working with 3D designs, animations, and effects requires a high level of computer GPU power. If you work in any of these fields today, you know that reaching your goal may take hours or longer depending on your GPU. Speed is one of the most significant requirements of our age. Therefore, those who can afford the highest technology have a competitive advantage in the graphics and design field.
However, the networking potential of the blockchain and the cloud could disrupt this advantage. Render Token (RNDR) is a project launched specifically for this purpose. It aims to make the market fairer by using a GPU Cloud Processing Network. The project uses blockchain and smart contract technology to provide processing power to those on the network and attempts to create an economy of interconnected 3D assets. But can Render Token really democratise this market? You can find out in this article of Zatrun.com.
Table of Contents
What is Render Token (RNDR)?
Render Token (RNDR) is a blockchain-based project launched to speed up and make the rendering process more efficient. It brings together designers and other users who need high GPU power on a single platform. People with high GPU power can trade with those who need to render quickly through the network and earn money by renting out their GPU power. The project uses a decentralised system to monitor and manage its scalable services.
Users who want to benefit from the GPU computing power of the Render Network must first send a request for access to a task. The protocol then determines the amount of cryptocurrency required for the task and creates a smart contract with the relevant details. Then, members with high GPU power provide power to tasks and are rewarded for it. The entire economy on the platform is provided with the RNDR coin, which is Render’s native token. In this way, the project enables people to earn money from GPU processing power while making GPU cloud processing fair.
Render Token is a subsidiary of OTOY, a company specialising in GPU-based software solutions. The company began looking for a solution to the unequal processing power between 3D artists’ GPU requirements and the existing CPU/GPU technology in 2009. Render Network was born as a result of this in 2020. The co-founders of OTOY, such as Jules Urbach, are among those behind the project. Urbach has over 25 years of experience in computer graphics, streaming, and 3D design industry.
OTOY’s well-established and trusted place in the industry for over 10 years is essential for the project. Render Token appeals to people who need high GPU power, such as artists and designers. Having a company like OTOY behind it provides a solid foundation for the project.
Is It a Good Investment?
RNDR is a cryptocurrency based on the Ethereum and Polygon blockchains. Currently, this asset has various use cases in the Render Token ecosystem and works as the project’s utility token. Payments on the Render Network are made with this cryptocurrency. Designers on the network receive payment in RNDR coin for rendering jobs. The RNDR coin is also used as an incentive for members to contribute their GPU power to the network.
Behind the RNDR stands a well-established company like OTOY. This strong foundation, combined with the support of industry-leading advisors and talented developers, bodes well for the project. In addition, the rising NFT market will allow the project to serve not only designers but also other individuals in growing new graphics-based markets, further increasing Render Token’s potential.
According to technical data, the project is currently ranked as the 116th largest blockchain platform and has a market capitalisation of $316 million. RNDR coin reached its all-time high of $7.80 in November 2021. However, since then, the project has continuously lost value. But this was due to the decline in the price of leading digital assets like Bitcoin and Ethereum.
Render Token (RNDR) can be bought and sold on many cryptocurrency exchanges. Some of the exchanges that list the token include Binance, Bybit, Bitget, and CoinW. If you’re interested in RNDR coin, you should access one of these exchanges and become a member. Then, you can invest in the project by following the purchase steps for the cryptocurrency. Render and other crypto assets are highly risky. Therefore, it is beneficial to research and analyse the risks before investing in any project.