Famous NFT Artists are utilizing the Render Network’s services. Learn more about what the Render Network is all about. Covered: What Is The Render Network? How Does The Render Network Work? Partner and Team Tokenomics What Is The Render Network? The boom of NFTs, blockchain gaming, and the metaverse has increased the demand for rendering […] The post What Is The Render Network? appeared first on CryptosRus.

What Is The Render Network?

Famous NFT Artists are utilizing the Render Network’s services. Learn more about what the Render Network is all about.

Covered:

  • What Is The Render Network?
  • How Does The Render Network Work?
  • Partner and Team
  • Tokenomics

What Is The Render Network?

The boom of NFTs, blockchain gaming, and the metaverse has increased the demand for rendering services. Rendering is the process of generating 2D/3D images and animations into the desired file type. This process can be quite taxing on a graphic card (GPU), and depending on the GPU computing power, the process could take days. However, the Render Network may be the answer to help artists and designers render their projects in a fast and less taxing manner.

The Render Network is the first to turn GPU computing power into a decentralized economy. It allows anyone with a modern GPU to contribute their rendering capacity in return for tokens. Artists can now utilize this blockchain and cloud technology to speed up rendering for a fee. The service provided by Render Network is already live and used by Decentraland and Beeple.

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How Does The Render Network Work?

The Render Network uses blockchain and smart contract technology to connect users looking for a render service with GPU cloud computing. Any GPU computing power can offer assistance, allowing users to distribute their projects across multiple GPUs simultaneously. It leverages a decentralized system to track and manage render jobs in a scalable way. All rewards and fees are paid using the Render Token (RNDR).

“How It Works.” https://rendertoken.com/#intro, Accessed Jan 1, 2022

Steps of The Process:

  1. Users looking for rendering services must first submit a job request for access.
  2. Next, the protocol calculates the amount of RNDR needed for the job.
  3. Finally, the protocol generates a smart contract with all the necessary information.
  4. Once the user pays, they will have access to the Render Network.
  5. Then, the project is distributed across the network. 
  6. Once completed and delivered, members who lend their GPUs are rewarded with RNDR for providing their computing power for the job.

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Partners and Team

Backed by parent company OTOY, a cloud rendering company that delivers real-time, cinematic-quality 3D graphics through the browser, they have over a decade of experience in this industry. The Render Network’s team is based in Los Angeles, with other team members worldwide.

Jules Urbach is the Founder and CEO of the Render Network. He has over 25 years of industry experience with licensed software to major companies such as Disney, Microsoft, and AT&T. Apart from an impressive CEO, Render Network also has several exciting partnerships such as Decentraland, Sia, Algorand, and BAT.

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Tokenomics

The RNDR token is an ERC-20 utility token. As mentioned, the primary usage of RNDR is for payment of fees and rewards on the Render Network. In addition, RNDR can be exchanged or recirculated in the network for other rendering jobs.

RNDR Token Allocation

  • 65% Escrow (Supply & Demand flow back to the network)
  • 25% Sold
  • 10% RNDR Reserve (RR)

Concerns:

The Render Network has a strong foundation in its field, especially since OTOY is already at the forefront of the GPU rendering software business. Furthermore, the Render Network delivers a solution to huge emerging markets such as NFTs, Virtual Reality, Blockchain Gaming, and more. Even though this is a great product to watch, the increasingly high ERC20 gas fees potentially could slow down the usage. It’s no secret that the frustrations associated with ERC20 costs have driven many blockchain projects to move to a different network. These projects are all potential customers to the Beeple-backed network. However, the network is expanding its infrastructure to Solana, so we shall keep an eye for future news.

Where To Purchase RNDR Token:

You can purchase RNDR through KuCoin exchange, similar to buying another cryptocurrency. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. If you are interested in purchasing RNDR you can do so by visiting KuCoin or Binance.US.

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