Render blockchain project review
Render is a blockchain project that enables the use of blockchain technology and smart contracts in the field of graphic computing and rendering.
By utilizing Render, users can distribute the computational resources necessary to create their own blockchain-based content or products.
The history of the project
Render was founded by OTOY, a company that was founded in 2008 and specializes in graphics computing technology, including cloud storage.
Jules Urbach, the CEO of OTOY, initiated the development of the Render platform in 2017. In 2019, the RNDR token was launched, which is the foundation of the project's economic, and financial activities.
Project funding
In 2019, Render conducted an initial coin offering (ICO) that raised $134 million. The entire volume of tokens was sold out within a few hours after the start.
Later, in 2021, the project secured an additional $30 million in an investment round, led by Multicoin Capital, Solana Foundation, Kenetic, Stefmion, and several institutional investors.
Details of Render's Second Funding Round (Crunchbase)
Render's mechanics and unique features
This decentralized network allows users to remotely render their projects by purchasing computing resources with RNDR tokens.
Token holders can also lease their power for rendering 3D animations and earn coins for their work. RNDR tokens are also used to pay for a range of services on the Render platform and to purchase additional services.
The project works well with many blockchains, allowing RNDR tokens to be used on all necessary networks.
Mechanics of the Render Network (https://rendertoken.com/)
Render Network is a popular platform among renowned NFT artists like Pak, FVCKRENDER, and Mike Winkelmann (Beeple), whose NFT was famously sold for a staggering $29 million in 2021.
RNDR cryptocurrency
The RNDR token is currently supported on both Ethereum and Polygon blockchains, with the team promising to integrate with Solana and BSC networks in the future.
Here are some key features of RNDR:
- It is a TRC20 token;
- Its market capitalization stands at $456 million;
- The maximum number of tokens is 531 million;
- The total number of tokens currently in circulation is 361 million;
- The average daily trading volume is $61 million;
- The token’s all-time high is $7.83;
- The token’s all-time low is $0.045.
RNDR is listed on many popular cryptocurrency exchanges, including WhiteBIT, Kraken, Huobi, Crypto.com, KuCoin, and others. It is also available on decentralized exchanges like Uniswap, Balancer (Ethereum), and QuickSwap (Polygon). A full list of platforms can be found in the Markets section on CoinGecko and CoinMarketCap.
RNDR price chart (CoinMarketCap)
Interesting Facts
● OTOY is a leader in the field of graphics computing, with their technologies widely used in the film industry to create stunning animation and special effects.
● RNDR was the first token launched on the Ethereum network using the ERC20 standard.
● OTOY has partnered up with several major companies, such as Amazon Web Services, Microsoft Azure and Google Cloud, enabling the use of these corporations' computing resources to power the Render platform.
● OTOY plans to use RNDR technology in a variety of fields, such as medicine, building and architecture design, and even virtual reality and metaverses.
