RNDR: The Utility Token Powering the Render Network and GPU Rendering Services

RNDR: Everything You Need to Know

RNDR is a cryptocurrency that powers a distributed network of GPU rendering nodes, enabling artists and studios to access high-performance computing resources for their 3D rendering needs. RNDR aims to democratize the creation and distribution of digital content, such as movies, games, virtual reality, and more.

What is it?

RNDR is an ERC-20 utility token that is used to pay for GPU rendering services on the Render Network, a decentralized platform that connects artists and studios with GPU providers (node operators). RNDR also serves as an incentive mechanism for node operators to contribute their idle GPU power to the network and earn rewards for their work.

RNDR was launched in 2017 by OTOY, a leading company in cloud graphics and rendering technology. RNDR held its first public token sale in October 2017, followed by a private sale period from January 2018 to May 2018, where a total of 117,843,239 RNDR were sold at a price of 1 RNDR = $0.25 USD equivalent of token. The Render Network went live on April 27th 2020, after a beta testing phase with early adopters.

How does it work?

RNDR works by using a combination of manual and automatic proof-of-render system, where nodes compete to render tasks requested by artists and studios, and verify the quality and correctness of their work. The Render Network uses the Ethereum blockchain to secure and record all transactions and interactions on the platform.

To use the Render Network, artists and studios need to create an account on the RNDR website or app, where they can upload their 3D scenes and assets, specify their rendering parameters and budget, and submit their tasks to the network. The network then matches the tasks with the available nodes that have the required GPU capabilities and resources. The nodes then download the assets and render them using OTOY’s OctaneRender software, which is integrated with the Render Network.

Once a node completes a task, it uploads the rendered image or video back to the network, where it is watermarked and hashed for verification. The artist or studio then reviews the result and approves or rejects it. If approved, the payment in RNDR tokens is released from escrow to the node operator. If rejected, the task is reassigned to another node or refunded to the artist or studio. The watermark is removed from the final result after the payment is confirmed.

Who are the team behind it?

RNDR is backed by OTOY, a Los Angeles-based company that specializes in cloud graphics and rendering technology. OTOY was founded in 2009 by Jules Urbach, who is also the CEO and co-founder of RNDR. OTOY has developed several products and services related to rendering, such as:

OctaneRender: A GPU-based rendering engine that supports various 3D software and platforms.

LightStage: A system that captures realistic human faces and expressions for digital characters.

ORBX: A format that enables streaming of high-quality 3D graphics and VR content over the internet.

Brigade: A real-time path tracing engine that enables interactive rendering of complex scenes.

The team behind RNDR consists of experts in computer graphics, blockchain, engineering, design, and business development. The RNDR advisory board includes industry leaders such as Ari Emanuel (Co-Founder and Co-CEO of WME), JJ Abrams (Chairman and CEO of Bad Robot Productions), Brendan Eich (Founder and CEO of Brave Software and BAT), among others.

What are its use cases?

RNDR has various use cases for both creators and consumers of digital content, such as:

Rendering: RNDR can be used to render high-quality images and videos for various purposes, such as movies, games, animations, advertisements, architecture, design, education, etc.

Streaming: RNDR can be used to stream 3D graphics and VR content over the internet, enabling immersive and interactive experiences for users.

Tokenization: RNDR can be used to create and manage digital tokens that represent 3D assets or scenes on the blockchain, enabling new forms of ownership, distribution, and monetization of digital content.

AI: RNDR can be used to train and run artificial intelligence models on GPU nodes, enabling applications such as computer vision, natural language processing, machine learning, etc.