OVERVIEW
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It’s Friday 🥳 

Did you catch the Apple keynote this week on Wednesday? If not, they dropped a golden nugget about the Render Network, and the market went wild.

Apple’s new iPad Pro will come preinstalled with Octane X, a rendering app powered by the Render Network.

Why does that matter?

Lets talk about it!

NEWS

Render Network Soars as Apple Showcases Octane X in Latest iPad Pro Keynote

The addition of Octane X, a rendering software backed by Render Network, in Apple's keynote marks a pivotal achievement for the project.

This endorsement by a tech giant introduces Render Network's technology to a massive new audience and legitimizes it as a mainstay.

BACKGROUND

Render Network

Render Network is a peer-to-peer marketplace where creators can rent the power of unused graphics processing units (GPU) from people who have some to spare.

Think of it as Airbnb, but for GPUs! Creators and AI developers use this network to render high-quality graphics or train AI models efficiently.

Understanding How the Render Network Works

The Render Network connects creators, who need GPU power, with node operators, who have idle GPUs available for rent.

Here's a simple breakdown of how it works:

1. Creators: People or businesses that need GPU power to render graphics or train AI models. They post their jobs and pay with RNDR.

2. Node Operators: GPU owners who rent out their unused GPUs, apply for the jobs.

3. Job Marketplace: Jobs are allocated based on a reputation system and priced according to three tiers:

   • Tier 1: Trusted partners (fastest, highest quality)

   • Tier 2: High-quality services

   • Tier 3: Budget-friendly

4. Processing Jobs: Node Operators use OctaneRender, a powerful rendering engine, to process jobs, ensuring privacy and security.

5. Blockchain Network: Ensures secure payments and transparent transactions.

6. Proof-of-Render Verification: Once a job is complete, the network verifies it, and the node operator is paid in RNDR.

Benefits of the Render Network

• Scalability: Creators can access as much GPU power as they need, with more GPUs available than Amazon and Google combined!

• Privacy & Security: Advanced encryption and watermarking protect creators’ assets.

• Transparency & Fair Pricing: Public blockchain ledgers ensure all interactions are transparent.

USES CASES

Utility of Render’s Token RNDR

The primary utility of the RNDR token is to facilitate transactions within the Render Network. It is used to pay node operators for jobs.

This direct utility creates a fundamental demand for the token. The demand, and the value of RNDR, grow as the demand for rendering services grow.

In 2023, RNDR, skyrocketed in value by over 1,000%! And is continuing to grow. Why?

Because demand for GPUs to train AI models went through the roof, and the centralized big cloud servers couldn't keep up.

This peer-to-peer network quickly became the solution, providing a scalable and cost-effective alternative.

Real Use Cases for RNDR

• Films, Games, and Media: RNDR was used to create stunning graphics for the show Westworld Season 4.

• Artificial Intelligence (AI): Perfect for training generative AI models at a lower cost.

• Architecture & Product Design: Architects and designers can create high-quality 3D renders and prototypes.

TOKENOMICS

RNDR Supply and Distribution

The maximum supply of RNDR is capped to 536,870,912 RNDR

• 25%: Were sold to the public

• 10%: Are reserved for user bonuses and rewards.

• 65%: Are held until jobs are completed to balance supply and demand. While the jobs are underway, they are kept safe in a third-party smart contract.

Currently 72.39% of the maximum supply is circulating, that is 388,643,224 RNDR.

This is very bullish for RNDR as any new tokens released into the market, from token unlocks, wont dilute the supply of RNDR drastically.

This Future proofs RNDR and establishes it as long term token.

As adoption grows, the value for RNDR will follow suit, as such this is the perfect time to look to invest in RNDR.

TECHNICAL ANALYSIS

RNDR price analysis

Due to the exponential growth of RNDR, its current price has reached $10.81.

Unfortunately, if you didn't get in early, it's not the best time to buy right now. It's wiser to wait for a price correction.

We believe there's potential for RNDR to drop between $6.5 and $5, based on several areas of confluence:

• Void in the Volume Profile: A lack of trading activity between $7.2 and $4.9 creates a price gap that could be filled.

• Fibonacci Golden Trade Zone: Ranging between $6.1 and $5.

• Wyckoff Structure: Sitting at $5.2

Considering these factors, we believe that once the price reaches $6.5, it's an ideal time to start accumulating RNDR.

CONCLUSION

RNDR’s Rise and What Lies Ahead

RNDR has been on a wild ride, reaching a record high of $13.53 in March 2024.

As the world of AI and next-gen media continues to grow, so will the demand for scalable GPU power.

The Render Network provides an innovative solution, connecting creators with idle GPUs worldwide at competitive rates. By using blockchain for transparency and RNDR for payments, it’s a win-win for everyone involved!

FEEDBACK

That's all for this week!

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