Fall 2023 Render Network Metrics

Going through the analytics of the Render Network from Q3 and October of 2023

The third quarter of 2023 focused on development work that would position the Render Network for transformations deploying at the end of 2023 and early 2024. This development was focused on enabling the Network to support general purpose AI / ML GPU computing, emerging rendering technology in spatial computing, the usage of native Cinema4D files on the Network, and the Burn Mint Equilibrium using an upgraded SPL RENDER token on the Solana blockchain.

Network metrics in Q3 held steady across jobs created and frames rendered, however, early data from October and the first half of November 2023 shows greater than 30% increases over similar periods in Q3, reflecting the effects of the development expansions on network operations heading into year end and early 2024.

Below is a breakdown of Q3 Metrics and a discussion of the data seen in October and early November:

Continued Strong Use of the Network

As mentioned briefly above, frames rendered saw an increase in Q3 2023 compared to Q1 2023, while both the number of jobs created and scenes uploaded in Q1 were slightly higher than Q3 [42,739 Jobs Q3 vs. 45,966 Jobs Q1 // 39,602 Scenes Q3 vs. 43,265 Scenes Q1], indicating more frame heavy work relying on the Network. Frame data throughout the year as a whole remained relatively even, as seen below:

• Q1 2023: 2.12 million frames rendered
• Q2 2023: 2.48 million frames rendered
• Q3 2023: 2.36 million frames rendered

Comparatively, Q3 2023 saw the highest number of Frames rendered, Jobs created and Scenes uploaded compared YoY, in some cases with almost double the number of their previous year counterparts:

Taking a larger approach, while Q3 2023 maintained pace relative to its fiscal year counterparts, as a whole it vastly outperformed metrics that we’ve seen throughout this period in previous years, showcasing the effects the Network’s continued growth and evolution have visibly had from a statistical standpoint.

Growth in October and Early November

Building off of Q3, both Frames Rendered and RNDR Used all experienced significant growth in Oct. compared to the monthly averages over the previous 3 quarters, with:

• Over 1.12 million frames rendered in Oct. alone
• Accounting for nearly 50% of the totals (Frames Rendered and RNDR Used) from the previous 3 quarters individually

Compared YoY, we see a similar nearly 50% increase across those same two statistical categories in 2022 vs. 2023, with:

• 681.8k frames rendered in Oct. 2022 vs. 1.12 million frames rendered in Oct. 2023
• 148.6k RNDR used in Oct. 2022 vs. 337.8k RNDR used in Oct. 2023

Similarly, the Render Network experienced a 75% increase in RNDR payouts in Q3. Some of this may be attributed to new types of rendering jobs on the network. In October, for example, work on the network included large-scale projection mapping renders for the Las Vegas Sphere, and the processing of the first Light Field renderings on the network. Both those jobs are part of a move into spatial rendering that the network infrastructure is growing to accommodate.

The increases in growth during the fall due to emerging spatial rendering jobs, and the addition of native Cinema4D file support on the network are important transformations that are being increasingly used into year end and projected to continue into early 2024.

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