About: Render Network is blockchain project based on Otoy’s main product — Octane Render. The main objective is distributed GPU rendering on the blockchain.
About Otoy: One of the leaders in rendering industry. Octane render is successfully working from 2009 (acquired by Otoy in 2012).
Twitter — 50k subscribers
Forum is active with many users online.There is no data about revenue of Otoy but considering that fact it’s one of the leaders in the industry with working business model and highly competitive product we can make conclusion that Render Network ICO (ico price = 25 cents per token) wasn’t made to financially support main business and to keep head above the water. In April RNDR team published that RNDR Client integrated into Octane Render 2020. Also Otoy works in close cooperation with Microsoft Azure and Apple. (about this later) Team which working on Octane Render and Render Network is the same.
Technology: It’s similar to Ankr. Someone has free GPU (only Nvidia yet, but soon AMD cards too) capacity and someone needs GPU capacity to do some rendering job. So artist pay to GPU provider for using his capacity in RNDR token. Here is schematic illustration of business model:
Team states that Render Network allows to make rendering process 10x faster and efficient than other solutions available in the industry.
Here is some reviews on beta test:
During the RNDR beta period, thousands of scenes from hundreds of beta testers have been rendered on the network, with ultra-high-resolution renders spread across tens of thousands of GPU compute nodes. Running on a secure Microsoft Windows Client with transactions completed on Ethereum’s mainnet, The RNDR Network demonstrated one of the first mainstream commercial applications of blockchain distributed applications (dApps). During the beta, leaders in the industry tested scenes ranging from ultra-high-resolution 4K to next-generation 12K formats.
More reviews can be found here: https://home.otoy.com/otoy-showcases-rndr-network-new-arnold-azure-integrations-gtc-digital/
So Render Network has everything to run and having working business model except one: liquidity.
It’s only one official exchange Probit with 150–200k daily volume which obviously not enough to let non crypto users (they’re target audience) buying and selling RNDR to provide/use decentralised capacity. Of course, team has temporary solution called RNDR Credits. So users can buy tokens via Paypal/Stripe immediately but with fixed price — 25 cents per token which more than spot price on Probit. All tokens which sold via Render Credits are bought from exchange.
In April Otoy’s CEO Jules Urbach sent in the official Rocket chat next message:
After that on 10th of June Coinbase posted list of coins which potentially will be listed and Render Network is in the list.
Also similar post about soon listing on twitter:
So to provide full experience for Render Network and Octane Render users there is only one thing left: exchanges and they will be Tier 1 considering posts of Jules above and interest from Coinbase. And probably it will be in September-October because in this months (traditionally it’s September) Apple will release new macOS Big Sur which will have absolutely new Otoy’s product — Octane X which will have built-in Render Network. Octane X will be free for all users and it’s logical because all payments will be done in RNDR Tokens. So after release Render Network will support not only Nvidia GPUs but AMD too.
Here is very interesting quote about Octane X and Render Network:
Based on OctaneBench scores on a Mac Pro with a Radeon Pro Vega II Duo MPX Module, Octane X also delivers the fastest score ever for a single slot graphics card. The renderer clocked in with a score of 415 on the machine, surpassing the previous top score of 401.
So thanks to Render Network Octane X will be the most powerful and efficient solution in rendering industry which values more than 2 billions in 2020 and will be more than 9 billions in 2026. So it’s obligatory to give liquidity when product getting available to such big audience like Mac users or otherwise it will be stillborn product and 3 years of hard work will be wasted.
Market cap of RNDR at the moment is almost 23 million (top 270–280 on Coingecko) which is crazy for such revolutionary product and big industry. In circulation 123kk tokens at the moment.
RNDR’s chart looking good too:
The most important thing in this chart is 160 days of accumulation and rising volume which tell us about increasing interest of market participants in Render and it will grow further because of spreading awareness about RNDR Network, it’s tech, tremendous potential in terms of mass adoption and upcoming listings on Coinbase and another top exchanges.
To sum up, Render Network has everything to get stunning success. It has experienced team, user base, support from Apple and Microsoft and working product with excellent product/market fit. The last thing left for fully working business model is liquidity and RNDR token will get it very likely in September, maximum October especially considering that fact that exchanges like Binance, Huobi list everything because of active market phase.
Interesting Facts about Render Network
- Universal partners with Microsoft to make cloud rendering for their films.
Here’s quote about Render Network and Microsoft Azure collaboration:
The release of RNDR on Azure ushers in the industry’s first hybrid cloud rendering model. According to Mark Miller, Senior Director, Media and Entertainment in Microsoft Azure. “GPU cloud rendering is transforming the media and entertainment industry, generating new production efficiencies that help artists to push the boundaries of creativity. We’re thrilled to be part of OTOY’s new RNDR Network and deliver enterprise level hybrid GPU cloud rendering with Microsoft Azure and NVIDIA GPU nodes.”
Considering that fact that Render Network is the best rendering solution in the industry at the moment it’s very likely that Universal will use Render Network in their film production.
2. Deadma5 and Nick DenBoer rendered Deadmau5’s new clip using Render Network: https://www.youtube.com/watch?v=aAvyS6HSa0A&feature=emb_logo
They were impressed: “five years ago this would not be possible.”
3. A few days ago RNDR official announcement channel posted:
It means that they are preparing for increasing awareness about their project and care how they will look in eyes of crypto community because without clear information about market cap on coinmarketcap.com it’s hard to get trust of investors.
4. Review of Render Network made by top youtube in rendering space Andrey Lebrov: https://www.youtube.com/watch?time_continue=6&v=Ee4X8Slzi6o&feature=emb_logo
Main points of this review:
- Very fast rendering;
- “Very, very reasonable price”;
- No one dreamt about such power Render Network gives.
Ratio of likes/dislikes speaks about quality of this review:
5. So how much should Render Network cost?
It’s hard to estimate because of lack of similar cases when blockchain project makes revolution in multi billion industry so let’s check market cap of projects with almost similar technology (decentralised storage, cloud computing etc):
Ankr — 73 000 000$;
Siacoin — 172 000 000$;
Golem — 113 000 000$.
Render Network is much better than these projects because of quick access to the audience and costs 23 000 000$. Seems like very underestimated. I think that fair price of such project is around 200 000 000$, almost 10x from the current price.
6. Apple’s tweet with invitation Render Network and Otoy team on WWDC 2020:
7. Opinion of John Carmack about Render Network (legendary developer in game industry, especially VR)
Also you can watch Joe Rogan’s podcast with him: https://www.youtube.com/watch?v=udlMSe5-zP8
*This review is not investment advice, before investing do your own research.
**Made by @batster41
