Render Network is providing a massive $3 billion platform for artists. As the name suggests, it is a crypto project that is majorly interested in rendering platforms. Since this process can be expensive, it aims to deliver decentralized access to individuals. Continue reading as we explore some of the innovative things Render Network is doing.
What is Render?
Jules Urbach, then CEO of OTOY, launched Render Network in 2017 after many years of conceiving the idea. Apparently, his company specialized in rendering and computer graphics. From the launch in 2017, it took quite some time before going public. First, there was a private sale from January 2018 to May 2018. So, within this period, there was a sale of around 117,843,239 RNDR at $0.25. After two years of testing, it had its public launch on April 27th, 2020.
The idea around Render Network appeared to be ambiguous at first. However, it is turning out to be a revolutionary one over the heads. So, it utilizes blockchain technology to transform graphics rendering. Since creating highly realistic artificial images from 3D models can be time-consuming, Render wants to change things up. They want to make it easier for artists to create these artificial images from 3D models.
How Does Render Network Make Life Easier for Artists?
To first understand the importance of Render Network, one must first know how rendering works. So, it is the process of creating highly realistic artificial images from 3D models. But, it often requires high-tech hardware such as virtual and augmented reality applications. Furthermore, it is time-consuming. Thus, the primary objective of Render Network was to use blockchain to provide decentralized access to rendering. This way, independent creators can produce high-quality 3D content without expensive hardware.
This usually begins with creators uploading their designs to the network. So, they must provide important information such as required data and specifications. Furthermore, RNDR, the ERC-20 utility token, plays a huge role here. Apparently, this is what the artists use to exchange GPU computing power from GPU providers.
Ongoing Art Competition
There’s also an ongoing competition within the Render Network in collaboration with another organization, Beeple Studios. So, the name of this event is the Digital Art Deathmatch. In a post on Twitter, artists are encouraged to submit their best artwork to compete with others. One of the major takeaways of this competition is that artists of selected artworks will get free tickets to the event. Furthermore, they will be one of the VIP guests.
RNDR Price Update
In the latest price update for RNDR, there’s a slight dip in the 24-hour trading chart of this token. Apparently, this is one of the price retracement procedures. However, it still maintains a market cap of more than $3 billion. Also, the weekly chart shows a positive dimension of this token. So, there’s over 20% increase in the price. The monthly chart looks like the best, as there’s over 100x growth. However, data from IntoTheBlock shows investors need to be careful. Apparently, there are currently more bears than bulls in the price chart. So, there’s a total of 122 bears in comparison to 120 bulls.
Conclusion
Render Network appears to be one of the cryptocurrencies with real utilities. So, they are providing a platform where artists can perform rendering procedures at a reduced price. Moreover, this will help in the creation of high-quality 3D models. The native token of this project, RNDR, is also doing well, looking at the last month. So, there’s more than a 100x growth in the monthly price chart.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
