Render Token (RNDR) Price



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About Render Token (RNDR)

The Render Network is a leading provider of decentralized GPU-based rendering services. The platform’s native token is RNDR, used to reward node operators for sharing their computational resources with the network.

Rendering refers to the process by which a device’s GPU converts a 3D model into a complex visual display equipped with texture and detail, CEO Jules Urbach explained. For video game developers, graphic creators, and animators these processes are essential, however their upfront costs purchasing expensive GPUs are prohibitively high. To combat these cost-barriers, Render’s functionality allows content creators to leverage a distributed, peer-to-peer network of node operators who utilize their spare GPU resources to perform cheap and efficient rendering services on the network. Node operators are subsequently rewarded with Render’s native utility token, RNDR, in exchange for the work they expend.

Put simply, Render works as a decentralized marketplace though which creators can submit rendering tasks to be performed in real time by the platform’s network of distributed GPU providers.

Technically speaking, the network is built upon both the Ethereum ledger and OctaneRender, a 3D rendering application designed by Render’s parent firm OTOY. Within this framework, Render’s data verification and payment services are handled by Ethereum while the platform’s 3D rendering services are facilitated and completed via OctaneRender software.

According to project documentation, Render leverages a reputation-based multi-tier pricing (MTP) protocol to allocate jobs across the network. Node operators with a high reputation score are said to be given more complex tasks on a more frequent basis, while creators with a strong reputation see their tasks completed at a faster rate relative to their less esteemed peers.

To ensure high degrees of network security, Render holds all payments made by the creator to the node operator in escrow until the corresponding task is complete. Per Messari, the monetary value of this payment is a factor of the work’s complexity, as well as the speed, security and reputation of the node operator.

The final render itself is not released until all watermarked previews are confirmed by the content creator. Should the preview turn out unsatisfactory, the creator reserves the right to cancel the render and reassign the frame to another GPU provider on the network, Messari explained.

As of July 2022, Render’s functionality is supported by a number of leading computer operating systems and chip manufacturers including Windows, Mac OS, AMD and Nvidia.

In 2021, the platform became a heavy player in the world of non-fungible tokens (NFTs), partnering with a series of leading creators to host exclusive artwork on the platform. Among them: Beeple.  

When was RNDR created and how much was it worth?

The Render Network is the brainchild OTOY, a leading cloud graphics firm with ties to serval Academy Award winning films. OTOY was created in 2009 by founder and current CEO Jules Urbach, a savvy software engineers who’s credited with creating the web’s first 3D video game platform. Urbach was assisted in development by fellow cofounder (and current CTO) Malcolm Taylor.

OTOY is currently backed by a number of business tycoons including former Google CEO Eric Schmidt, esteemed director/producer JJ Abrams, Brave/Mozilla cofounder Brendan Eich, and WME CEO Ari Emmanuel.  

In 2017, OTOY launched Render Network with the intention of creating the world’s first peer to peer GPU rendering platform for the creation and publication of next generation media. The platform’s native token RNDR was released via an October 2017 public sale which priced the token at $0.25.

Data from CoinGecko indicates that RNDR largely consolidated within a tight range over its first four years of existence before catapulting to an all-time high of $8.78 in November of 2021. The token’s price has since been impacted by heavy downside volatility.

How is the price of RNDR determined?

RNDR is a deflationary asset with a maximum supply of 536 million tokens. According to documentation, some 25% of this supply was distributed via the platform’s various public and private sales, while another 10% was allocated to Render’s RNDR reserves. An additional 65% of RNDR’s supply is currently held in escrow via a third-party custody provider.

As of July 2022, there were 274.3 million RNDR tokens in circulation.

Why does RNDR have value?

This is what was said recently by former Google CEO Eric Schmidt: “Six years ago, I predicted that 90% of computing would eventually reside in the web-based cloud. OTOY has created a remarkable technology (Render) which moves that last 10% – high-end graphics processing – to the cloud. This is a disruptive and important achievement. It marks the tipping point where the web replaces the PC as the dominant computing platform.”

Is RNDR secure?

The Render Network is secured via a novel concept known as proof of render, a variation of proof of work which sees node operators expend their computational resources on 3D rendering services rather than complex computational puzzles, CEO Jules Urbach explained.

Within this framework creators and node operators are given a reputation score that’s used to securely and efficiently allocate jobs across the network.

What are the main benefits of RNDR?

  • The Render Network allows computer operators to monetize their spare GPU resources.
  • Render’s distributed peer-to-peer network is said to be more efficient and cost effective than existing centralized competitors.
  • Render is a hub for the production of non-fungible tokens (NFTs). The fall of 2021 saw over $500 million worth of NFTs minted on the platform. Likewise, Render has secured sponsorships with a number of leading digital artists, including Beeple. 

What do critics say about RNDR?

That it’s an underperformer. Per, RNDR has spent the vast majority of 2022 trading below its $4.54 price target.

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