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Render (RNDR) platform had a year of growth in 2023, after experiencing a spike in demand for its services. What is its actual use case?
The Render platform project has created a blockchain-based decentralized platform for content creators to access distributed GPU rendering services. This platform enables artists, developers, and studios to access much-needed computational power by using the unused GPU power of other users.
What is Render Used for?
The Render platform makes sharing their unused GPU power easier, thereby eliminating technical barriers and saving users time and money. Additionally, it provides a decentralized system to efficiently track and manage rendering tasks, which results in a reduced carbon footprint for the digital creation industry.
Render Token’s platform connects users who require rendering jobs with those who have idle GPUs, making it easier for everyone to access rendering services without purchasing high-end computers. This platform is especially beneficial in gaming, media, AR, VR, medical, and industrial sectors where rendering services are in high demand.
Core Requirement
The core requirement of Render was to develop a scalable network to meet the growing demands of the GPU rendering business model. The decentralized GPU rendering pool created by Render Token addresses the lack of resources in high-end rendering. This pool is also available to all network participants.
The protocol allows anyone with a modern GPU to contribute their rendering power in exchange for tokens, benefiting regular users as well as clientele who can save on hardware investment costs.
Render’s Performance in 2023
In 2023, Render experienced a spike in demand for its services due to the growth in complex, large-scale displays, spatial rendering, and extended reality (XR) jobs. In its Q4 2023 report, Render noted that Apple’s entry into the XR field with the Apple Vision Pro was a demand driver for intensive rendering jobs required for stereoscopic content, higher frames, better resolutions, and increased field of view.
Additionally, the network carried out the first large-scale display and spatial rendering job for the Las Vegas Sphere during the quarter. It exploded in popularity among crypto enthusiasts.
According to Anndy Lian, a Blockchain Expert, the main reason Render Token has exploded is its AI and GPU/Nvidia’s narratives. Render Token’s partnership with Apple gives it credibility and opens up a huge market opportunity for RNDR to showcase its technological edge over competitors.
In 2023, Render Token rendered nearly 14% more frames than the previous year, with more than 9 million frames rendered. Additionally, the total RNDR tokens used during the year reached 2.7 million tokens compared to 1.85 million in 2022, leading to an increase of 850,494 RNDR used. In 2024, the RNDR token crossed its all-time high and is currently trading near the $10 mark.
Summary
Render is a platform that allows users to share their unused GPU power while providing a decentralized system to manage rendering tasks and reduce their carbon footprint. In 2023, Render saw a spike in demand due to the growth in complex digital creations, and by 2024, the RNDR token had reached an all-time high of $10.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
