By Luke - Crypto expert - 21/12/2021
Decentralised 3D asset economy, the Render Network (RNDR), is being backed by top companies such as Multicoin, Solana, and Alameda. The Render Network is a decentralised version of Pixar’s 3D rendering, however RNDR could prove to expand much more after its recent funding round. The fundraising round supported by the previously mentioned businesses, Solana, Alameda, and Multicoin, raised $30 million to go towards the Render Network.
The Render Network supports Non-Fungible Token artists by allowing them to purchase pooled computer rendering power. With the added funds, the network has stated that they will be able to double its customers base and further upgrade its rendering system to provide high quality NFT models. Rendering engines and protocols are often used by people selling crypto art tokens, often known as NFTs. Digital artists can utilise the network’s rendering system to create 2D or 3D model images with photorealistic qualities. According to the founder of the Render network and CEO of Otoy, Jules Urbach, they have stated that there already are around 10,000 artists using the network.
Many investors have recently been turning their heads towards metaverse-related cryptocurrencies after Facebook rebranded to “Meta.” The price to buy RNDR has seen a drastic increase and major price spike after Mark Zuckerberg announced the new brand name. Investors have since been buying RNDR, Decentraland (MANA), and other metaverse tokens to hop on board the trend.