- A crypto analyst identifies RNDR as a highly promising investment in the AI sector.
- Render Network aims to decentralize GPU power rental.
- Render Network has partnered with industry giants like Apple, Microsoft, and Google.
Renowned crypto analyst Miles Deutsche has identified Render Network’s RNDR token as a highly promising investment in the rapidly growing field of artificial intelligence (AI).
Deutsche argued that the AI technology sector is expected to witness a remarkable threefold increase in investment, reaching a staggering $97.9 billion in 2023. He believes that as the demand for GPU power rises with AI development, Render Network stands at the forefront of providing a decentralized solution.
Render Network is a blockchain-based platform that allows users to rent out their GPU power to those needing rendering services, such as 3D modeling, animation, and graphic rendering.
With applications across various industries, including gaming, NFT creation, metaverse development, architecture, and animation, the crypto analyst noted that Render Network is poised to capitalize on the increasing demand for computational resources.
Deutsche also based his assessment of RNDR’s potential on the strategic partnerships with industry giants such as Apple, Microsoft, and Google that Render Network has secured. According to the analysts, these collaborations further enhance Render Network’s potential for growth and adoption.
For instance, integrating Octane X, a popular rendering product, with the Render Network will enable seamless rendering on iPhones and iPads.
RNDR is the utility token within the Render Network ecosystem used to pay for rendering services. It provides access to premium features like priority rendering and high-powered nodes.
With a total token supply of 531 million and a circulating supply of 389 million, RNDR currently ranks among the top 50 coins with the most significant market cap, boasting a fully diluted valuation of $1.13 billion.
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