Blockchain technology enables a few interesting business models worth looking into. In the case of Render Token, the project focuses on distributed GPU rendering on the blockchain. It is a bit similar to a few other projects, though there are some key differences. It will be interesting to see how this project fares in the future.
An Overview of Render Token
Render Token is one of the projects which wants to harness unutilized GPU power from all over the world and let people earn money by renting this computing power to others. As such, the project creates a decentralized economy of connected 3D assets. All of this will be done through the Ethereum blockchain, which has become the backbone for quite a few ICO projects over the past few months.
The Technology Powering Render Token
As one would expect, a project like this requires innovative technology first and foremost. Render Token utilizes the latest breakthroughs in cloud rendering technology to create a distributed global network of millions of peer GPU devices. This network will consist of a wide range of devices, ranging from smartphones to televisions and AR devices.
It is evident projects such as Render Token will also face a lot of challenges. Right now, authoring and publishing state-of-the-art graphics is not all that easy. Even though the business model is very solid and the industry is booming as of right now, coming up with creative solutions is more important than ever. Render Token filed a patent several years ago, which will come in handy for this particular project.
The Render Token ecosystem will consist of smart contracts, dApps, and even a marketplace. Anyone can contribute GPU power to this network. The native token will be used to help the marketplace find its niche in the future. This project has a lot of potential, assuming the developers can deliver on their promise.
The RNDR Token Explained
A new decentralized GPU rendering network cannot exist without its own proprietary token. In this case, that token is known as RNDR, which will be used to create a new marketplace to fund digital ideas, assets, and applications. RNDR will also be used to measure job costs alongside US dollars, which certainly opens up a lot of new opportunities.
The Road Ahead
So far, the developers have unveiled the phase 1 feature of this platform. In the near future, the tokens will be usable for OctaneBench jobs on the ORC platform. Several new types of jobs will be introduced in the coming months as well. Even Unity game developers may show an interest in Render Token, although it remains to be seen how all of this will play out.