Render Token, known as RNDR, is a decentralized GPU rendering communication network on the Ethereum blockchain. Its goal is to connect artists and studios in need of GPU computational resources. Including mining sponsors willing to rent out their GPU capabilities.
In 2008, the OTOY platform made its debut on the market and it’s the parent of render tokens. The platform introduced render tokens to the public in 2017.
Render Token has grown significantly since its publication. Headquartered in Los Angeles, it boasts thousands of members from all over the world.
Its advisory board comprises industry professionals., they include;
- Brendan Eich (Founder and CEO, Brave Software and BAT).
- Ari Emanuel (Co-Founder and Co-CEO, WME).
- JJ Abrams (Chairperson and CEO, Bad Robot Productions).
These icons have encouraged RNDR in various capacities. Including bridging the gap between cryptocurrency communities and Hollywood studio production pipelines.
Gracious Benefits of the Render Token
They’re several benefits open to everyone on the render token network. The most important ones are;
1. Provision of Decentralized System
Many people are unaware of the digital community’s growing computational needs. The digital creative industry has flourished over the last ten years.
This growth has increased the demand for high-quality rendering services. When a user’s GPU is not doing work, then, it’s idle.
New users must buy new GPUs in this scenario. Both substance and electricity consumption is increasing.
This is where render comes in. It offers a decentralized system for monitoring and managing rendering jobs. Render’s strategy helps to improve efficiency in gaming, recreation and augmented reality.
Plus the segments for virtual reality, clinical, and industrial use. As a result of this efficiency, it reduces the carbon footprint of the sector.
2. Time & Cost Saving Mechanism
Anyone can use render tokens to share their unutilized GPU power. The render system overcomes the technical challenges related to network computational systems.
Also, the system connects people who have inactive GPUs with users who want to do render jobs. This strategy saves users time and money because there’s no need to buy expensive computers to manage these tasks in-house.
3. Distribution System
A major point of concern for businesses is a scarcity of resources. Anyone who has worked with high-end rendering requirements will say the procedure is time-consuming and energy-intensive.
How does the token help? Render token uses its distribution system to establish the decentralized GPU rendering stream. All network participants have immediate access to this rendering power.
Users of Render Tokens have more options. They can generate more robust environments. Also, the network’s scalability allows developers to create too many interactive and immersive environments.
5 Digital Rights Management (DRM)
Another major goal of the Render token development team is to create digital management systems. There’s currently no globally recognized & universally accessible storage area for content creators.
The market’s current options are all centralized. Unfortunately, this leaves creators at the heart of centralized systems that can censor or remove their information at any time.
Render token takes advantage of blockchain technology’s immutability to ensure that creators’ rights are protected. Furthermore, the system can track when these efforts are utilized.
Therefore, artists and content creators can exert greater control over the use of their projects. Additionally, They can set up the network to standardize royalty payments, which is impressive.
What’s more? These systems can provide developers with greater ROI potential.
Render needed a scalable network, which was one of its primary requirements. The GPU rendering marketing strategy necessitates a network that can scale up in a linear way to meet increasing demand.
The protocol makes use of blockchain technology to provide a market-leading alternative that’s efficient, powerful, and capable. As such, users of the Render Token can process complex files difficult to complete locally.
How does RNDR function?
RNDR is an ERC-20 functionality token that network artists use to swap for GPU computational resources from GPU suppliers (node operators). RNDR employs a manual and fully automated proof of work system, or proof of render in this case.
To ensure that all art is effectively produced before payment disbursement and art release. Also, using the Ethereum blockchain’s inherent security properties. This means proprietary investments are hashed upon posting and sent to endpoints piecemeal for rendering.
RNDR tokens are the platform’s primary utility token. Customers can deliver RNDR to the people doing the rendering work. Also, people can use this token to send value globally.
Every RNDR transaction incurs a small percentage fee, used to fund the Render Network’s future development and operation. Payments are held in escrow all through rendering and are made available to node operators.
This is after the commissioning artist verifies that the work is completed to the satisfaction of all parties. Next, a watermark is placed on assets rendered on the system until payment is received.
At which point unwatermarked renderings are being downloaded and all payment is kept in escrow. Until the manual process is authenticated as correct renderings.
As part of the Render Token network, OctaneRender must be available. OctaneRender, in particular, uses RDNR to disperse the structure of the current rendering service. As a result, UX is more responsive because the middleman is eliminated from the process.
Worth of Render Tokens Today
Render Token is currently trading at $2.37, with a 24 hr price movement of $38,490,178. As such, within the last 24 hours, Render Token rose by 0.54%.
Render Token (RNDR) contract address
Render Token (RNDR) uses the Ethereum and Polygon network.
Best Places for Render Tokens Exchange
Exchanges that offer the best value for render token (RNDR) using a credit card, debit credit card, or Bitcoin are;
Is Render Token a Good Investment?
Render Token has been a popular token to invest in for a long time, according to many experts and traders. The value has risen unexpectedly. Over the past five years, there has been a rise in demand for GPU rendering services.
The Token, in particular, could save the industry a lot of money on hardware. Also, Passive rewards can be gained by regular users of the service. As a result, you can rest assured that it’s a good investment which will pay off handsomely.
Several industries have been transformed since the Render token’s launch. The coin has gained approval from several regulators, and a dedicated team of developers is working tirelessly to spread the word and increase its popularity. Therefore you’re doing the right thing by choosing the render token!
Note: Cryptocurrency investment is risky, you may lose your investment.