Explained: The Render Token (RNDR), its Apple integration and the resulting 300% rally

With the crypto market experiencing a sudden growth spurt in 2023, several coins have registered double- and triple-digit gains over the last few weeks. However, most of these coins are tied to well-known projects and have large market caps. Now, one project that looking to disrupt this trend is Render Token (RNDR).

This relatively unheard-of project has an extremely unique value proposition, which has earned it an integration with the tech giant, Apple. As a result, the native cryptocurrency of the Render Token network, RNDR,  has rallied nearly 300 percent over the last couple of weeks. As such, the token currently ranks second in terms of year-to-date gains amongst the top 100 cryptocurrencies by market cap.

But what is the Render Token project, how does it work and why is its native token shooting for the moon? Tag along to find out.

Founded in 2016, Render Token is a project that is looking to offer decentralized GPU-based graphic rendering solutions. Today, the demand for graphic rendering solutions has increased exponentially. Gaming platforms, NFT artists, metaverse developers, architects, animators, interior designers, etc. all need 3D graphic rendering solutions.

However, the computing equipment required to create these images and videos is usually very expensive. Moreover, rendering these creatives into widely accepted formats such as Jpeg, MP4, MOV, AVI, etc. takes a lot of time and can only be carried out using advanced graphic processing units (GPUs).

This is where Render Token comes in. As per its website, Render Token is "designed to connect users looking to perform render jobs with people who have idle GPUs to process the renders." Those who have idle GPUs operate as nodes on the Render Token network, and those who have projects that need rendering are known as creators.

The creators can post jobs that need to be rendered. The network will assess the scope of work and calculate the amount of RNDR required to complete the job. The details of the job and its cost are coded into a smart contract and broadcasted on the RNDR network.

Node operators can pick up the job, use their idle GPU processing power to complete it and send it back to the creator. In exchange, the node operator will receive the RNDR tokens allocated for the job, minus a small fee that goes to the network for facilitating the entire operation. The fee collected are used for network maintenance and other related expenses.

The Render Token network has already captured the attention of digital creators and has been creating waves in recent weeks. "The interface is super simple, there’s a ton of different options, and it’s cost-effective and it’s just something that lets the technology get out of the way and just focus on the creativity," said Beeple, the man behind the world’s most expensive NFT artwork. "Tiny computer, big project? The Render Network is your best friend," said Stefan Mathez, another popular NFT artist.

Render Token is the brainchild of Jules Urbach, who is also the founder of OTOY, a cloud rendering company. As such, Render Token is just one of the many offerings in a suite of products and services provided by OTOY.

One of the more popular products OTOY has put out to date is OctaneRender, which is the “world’s first and fastest unbiased, spectrally correct GPU render engine on the market.” It is a software that you can use to edit, create and render realistic 2D images or videos based on 3D models.

It allows users to apply lighting, shadows, and other effects to create cinematic realism in images and videos. The software also provides users with plug-in support for several other 3D graphic and content-creation tools, including Cinema 4D, Maya, Houdini, Blender, etc.

Users can create and render images and videos directly on OctaneRender, or they can import creatives from the other tools mentioned above and simply use the software to render the final output.

Thanks to its capabilities, OctaneRender has become extremely popular in the film and gaming industry. In fact, OctaneRender was also used to render the opening visuals for seasons 1 and 2 of the hit series, Westworld. Even the node operators on the Render Network, need to use OctaneRender to process the jobs they pick up.

Now, on December 27, OTOY launched OctaneX, which is like the smartphone version of OctaneRender. The app is available for free download on M1 and M2 iPads. "Mac users can now pull off real-time, photo-realistic 3D rendering. Fast," said the Apple Store Preview of OctaneX.

Further, OctanceX provides users access to Render Token’s decentralised grid of GPU processing units. This will allow thousands of digital creators to tap the Render Token network for their graphic processing needs. Therefore, the adoption of Render Token could grow even further once more developers, designers, and architects use OctaneX for gaming, firm and other productions.

The possibilities look even more promising once OctaneX is available on iPhone, allowing millions of users to access the interface and tap the Render Token network for their graphic process needs.

As such, Render Token’s indirect integration with Apple has caused the price of RNDR to spike. The token shot up from $0.41 on December 27 to $1.62 at the time of writing. That translates into 295 percent gains in a little over a month.

Render Token shows just how blockchain technology can be leveraged to create a project with amazing use cases and tons of real-life potential. And with the growing need for rendering solutions and its Apple integration, the Render Token seems to have a bright future. However, cryptocurrencies are highly volatile. Their prices can swing wildly in a matter of hours or minutes. Therefore, it is important to do your own research and invest only as much as you can afford to lose completely.