Render Token

What is a render token?

A rendering token, or RNDR, is a utility token built into the rendering network. The latter represents blockchain based rendering network allowing users to rent out their idle GPU power.

RNDR serves exchange medium in the rendering network. It allows network participants to pay for services provided by other users on the platform.

The render token is based on ERK-20 token standard.

The maximum number of render tokens is 536,870,912. The total supply was obtained from predicted supply and demand for the next 10 years. RNDR was distributed as follows:

• 65% – Escrow;
• 25% – Sold;
• 10% – Rendering reserve.

Its first public sale was launched in October 2017, and a private token sale took place in early 2018, which set the Render Token price at around $0.25.

You can take a closer look at Render Token price history or the current price of RNDR in the chart above.

What are the main features of Render Token?

As discussed in What is a render token section, users can rent out your spare GPU capacity on the Render network and receive crypto rewards (RNDR) in return. These users are called Node Operators and anyone can become one.

On the other side of the Render Network booth. Creators – network participants who use the power of the GPU to create 3D digital images such as animation, visual effects and motion graphics.

In addition, creators are given the opportunity to earn money directly through the Render Network. This is because Render allows creators monetize your 3D projects. Users who wish to become creators must have OctaneRender subscription or boxed license.

When a Node Operator completes a task given by the Creator, it is recorded in the public registry.

Render Token price structure: multi-tiered as it offers options based on user needs. OctaneBench, a benchmarking tool provided by OTOY, determines these parameters by determining the processing power. There are 3 levels depending on price, speed via queue priority, node power and security:

• 1st level – Trusted;
• Level 2 – A priority;
• Level 3 – Economy.

Cost of the Render Token crypto project commission up to 5% for each exchange. This fee is subject to change based on current GPU supply and creator demand.

RNDR credits provide another way to cover the cost of borrowing GPU power from the render network. They can be purchased for fiat currency.

The value is stored in the Render Token network in two ways: RNDR Tokens and RNDR Credits. The latter is a non-exchange medium of exchange used specifically for the acquisition of services provided.

Even though RNDR credits are purchased with fiat money, node operators are still paid RNDR tokens. It’s because One RNDR loan is backed by approximately 4 RNDR tokens.

The project’s goal is to provide cloud-based GPU rendering services to creators who lack the resources to implement 3D media projects.

Who developed the render token?

The Render Token crypto project was launched in 2016 by the company Jules Urbach. Render Network supported OTOYwhich was also co-founded by Jules Urbach.

OTOY is the parent company of Render Network. It was launched in 2008. In addition to Jules Urbach, the initiators of the company were Alyssa Granger and Malcolm Taylor. OTOY is a GPU-based cloud graphics company based in Los Angeles, California. Simply put, it ensures that creators who lack rendering resources can complete their projects by borrowing computing power at a reasonable cost.

Jules Urbach is responsible for the project concept and roadmap development.

The project consultants include people with different professional experience:

• Ari Emanuel is co-founder and CEO of WME IMG;
• JJ Abrams is the CEO of Bad Robot Productions;
• Brendan Eich is the founder and CEO of Brave Software;
• Demian Brener is co-founder and CEO of Zeppelin Solutions;
• David Worick – co-founder of Sia;
• Mike Winkelmann – Beeple artist;
• Jennifer Zhu Scott is the director of Radian;
• Manuel Araoz is the CTO of Zeppelin Solutions.

Besides the consultants, the core team is the backbone of this project. It consists of 11 professionals serving as blockchain developers and many others.

The Render project has signed partnership agreements with blockchain projects such as Sia, Decentraland, Basic Attention Token, Algorand and Frieze.