- Render Network leads crypto innovations by driving artificial intelligence and spatial rendering.
- Record figures in frames and RNDR highlight the constant evolution, consolidating Render Network in crypto.
Render Network, steadfast in its position as a leading player in the crypto ecosystem, rolls out crucial developments in Q3 2023. Focusing on preparing the network for expected transformations in late 2023 and early 2024, the focus is on boosting GPU compute capacity for artificial intelligence/machine learning, emerging rendering in spatial computing, native Cinema4D file support, and implementation of Burn Mint Equilibrium via an enhanced SPL RENDER token on the Solana blockchain.
A Third Quarter of Innovation
The third quarter of 2023 is defined by an incisive focus on development that seeks to not only position the Render Network, but transform its operations. This commitment translates into a staggering 30% growth in network metrics over the previous quarter, clearly demonstrating the positive impacts of development expansions.
Metrics, Stability and a Promising Future
Despite stability in job creation and rendered frames during the third quarter, preliminary data for October and the first half of November 2023 reveal growth in excess of 30%. This increase reflects the positive effect of development expansions, cementing the strength of the network to face the close of the year and the beginning of 2024.
October and November Breakdown and Reflection
Consistent and robust network usage translates into an increase in frames rendered during the third quarter of 2023. While the first quarter slightly outperformed in job and scene numbers, this past quarter evidences a more frame intensive workload that relies on the network.
Year-over-year frame numbers remained relatively stable:
- First Quarter 2023: 2.12 million frames rendered
- Second Quarter 20 23:2.48 million frames rendered
- Third Quarter 2023 :2.36 million frames rendered
Compared to the previous year, the third quarter of 2023 marked a milestone with the highest number of frames rendered, jobs created and scenes uploaded. This increase evidences not only the pace maintained over previous fiscal years, but a significant improvement compared to previous years, demonstrating the impact of the network’s sustained growth and evolution.
New Horizons: Growth in October and early November
Building on the achievements of the third quarter, both frames rendered and RNDR usage experienced significant growth in October. More than 1.12 million frames rendered in this month represented nearly 50% of the previous three quarters’ totals.
Comparing year over year, a similar increase of nearly 50% is seen in these two statistical categories in 2022 versus 2023. RNDR used also saw a substantial increase, reaching 337.8 thousand in October 2023 versus 148.6 thousand in October 2022.
The Render Network had an extraordinary 75% increase in RNDR payments in the third quarter. This growth is attributed in part to new types of rendering jobs in the network.
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Notable examples include large-scale projection mapping renders for the Las Vegas Sphere and the processing of the first Light Field renders on the network. These jobs mark the network’s foray into spatial rendering, with the infrastructure expanding to meet growing demand.
Growth during the fall, driven by emerging spatial rendering jobs and the addition of native support for Cinema4D files on the network, mark significant transformations. These become increasingly integrated toward the end of the year and are projected to persist into the first quarter of 2024.
What is the Render Network?
Render Network (RNDR) is an open source blockchain project that seeks to democratize GPU cloud rendering using OTOY tokens. It functions as a rendering network, allowing users with idle GPUs to join and complete rendering jobs with OctaneRender.
These GPUs become “Node Operators”. Users who need rendering services pay with the native token, RNDR. GPU owners receive payments, with a portion going to OTOY. Unlike conventional cryptocurrency mining, Render Network leverages GPUs to render and leverage blockchain-specific features, offering an innovative and decentralized approach to rendering processing.
