Render is a blockchain-based network launched in 2016 and designed to connect users looking to perform render jobs with those who have idle GPUs to process the renders. It is backed by its parent company OTOY, a cloud graphics company, and is headquartered in Los Angeles, California. Render’s key goal is to provide peer-to-peer GPU rendering and monetization opportunities for 3D media with the help of the Ethereum protocol.
Render revolutionizes the way that 3D assets and associated digital rights are transferred and distributed across end-users and organizations. In fact, any 3D object or environment can be authored, shared, and monetized through the Render protocol.
Render features speed, security via watermarking, unlimited scaling between parallel GPU nodes, end-to-end traceability, and reduced costs. In addition, the system protects both user privacy and authorship rights.
The Render network spreads work across thousands of computers while using a blockchain ledger to record completed jobs. This process helps to speed up the rendering of complex scenes and allows users to fulfill more jobs without expensive hardware and energy costs.
To join the RNDR network as an artist, users need to have OTOY’s OctaneRender subscription or a box license at hand. OctaneRender Cloud (ORC) is a GPU cloud rendering platform that allows to keep up with the demand for holographic production and accepts RNDR tokens. Users who rely on the platform to perform rendering work are called creators.
Miners can use the network without any licenses. Once their nodes are added to the network, they become operators and get an application to run the mining client and earn RNDR Tokens. Anyone with a modern GPU and an internet connection can join the network and earn crypto for lending computational power. Creators in turn send their files to the network, where they are assigned to operators.
The Render token
The Render token (RNDR) is an ERC-20 utility token created to power rendering work on the Render network. It was also designed with the purpose to make the process of streaming photorealistic simulations accessible to everyone.
The maximum Render token supply is capped at 536,870,912 coins. Such an uneven number derives from the analysis on the supply/demand for rendering over the next 10–12 years. The public token sale took place in October 2017 and was followed by the private sale held from January to May 2018. 25% of the total RNDR token supply was sold during the event, 10% is held in the RNDR reserve, and 65% are escrow tokens that are kept in a third-party custody account to bring supply and demand back to the network. Tokens from the reserve and the escrow account are released as user acquisitions, bonuses for node operators, airdrops, etc. as the network scales. Tokens from the public token sale have been migrated to the new ERC-20 contract at a ratio of 1 old RNDR : 1 current RNDR. The migration will remain open as long as the ERC-20 standard exists.
The RNDR ecosystem allows anyone with a GPU to join the network and exchange rendering power for RNDR tokens. Both creators and providers can monetize their efforts. GPU owners are node operators and they earn RNDR by completing jobs from creators. Artists and designers have the opportunity to get paid for their animation, motion graphics, and visual effects with the Render token. NFT artists use RNDR in the creation process to reduce the time of NFT rendering. NFTs are tokenized and deployed using the latest RNDR Layer 2 minting technology while their sales can also generate income within the RNDR ecosystem. Moreover, accumulated RNDR tokens can be re-used within the network. For example, they can be spent on funding rendering projects, encrypted on the network.
A transaction fee is charged for each job to cover the network maintenance costs. Fees range from 0.5% to 5% of the total RNDR needed to process the job. They are determined by GPU supply and the creator’s demand.
RNDR can be purchased and traded on several exchanges such as Huobi, KuCoin, Binance, MEXC, and Gate.io against USDT, BTC, ETH, and BUSD. It can be stored on any wallet compatible with the ERC-20 token standard.
RNDR credits is the other means of storing value helping new users during the onboarding process. They are non-exchangeable as they can only be used for buying rendering power on the network. Unlike RNDR tokens, creators can purchase RNDR credits through PayPal and Stripe, or directly on the Otoy platform. Purchased credits are supported by RNDR tokens obtained by the project’s team from an open market. This means that although creators pay for the work in credits, node operators still get Render tokens as a reward.
One RNDR credit has the equivalent compute power of 4 RNDR tokens. It also equals 100 OBH (OctaneBench Hours). Octanebench is a GPU benchmarking utility created by Otoy to define the general compute power. The project offers users different pricing options that depend on their preferences for speed and safety. The amount of rendering work for 1 RNDR credit depends on a tier.
Render team and partners
Render was founded by Jules Urbach and Malcolm Taylor. Jules is the CEO who sets the strategic vision for the company. He is a pioneer in computer graphics with over 25+ years of relevant experience. He has built the web’s first 3D video game platform and licensed the software to Disney, Microsoft, Nickelodeon, and Hasbro. Malcolm is the CTO at OTOY.
The Render’s core team is located all over the globe and includes Kalin Stoyanchev, the head of the blockchain, Joshua Bijak, a Project Lead, Charlie Wallace, the Chief Technology Officer, Phillip Gara, the Director of Strategy, and blockchain developers Matthew McClure and Victor Naumik.
The Render Advisory Board includes Eric Schmidt, Executive Chairman and former CEO of Google, J.J Abrams, the CEO of Bad Robot, and Demian Brener, the co-founder, and CEO of Zeppelin Solutions
Render has established partnerships with Decentraland, a blockchain-based virtual reality world, Sia, a storage platform secured by blockchain, and BAT (Basic Attention Token), an ad-based blockchain. It also partnered with Frieze to release NFT minting for the art festival and several media providers such as VentureBeat, Forbes, Upload, and FX Guide.