The Next Phase of The Render Network: Building The Open Metaverse with Multicoin Capital
The Render Network launched in 2017 with the mission to democratize next generation content creation and build the foundations of an open and decentralized metaverse:
“The Internet was built on the promise of distributed computing and the open exchange of ideas and data. As we move from hypertext and hypermedia to a fully immersive metaverse built on complex interactive 3D scenes, the challenges and opportunities are exponentially greater.
The RNDR Token, powered by the blockchain, uses the act of creation — rendered by the laws of physics and light — to open the door to a new model of value exchange and a truly decentralized Metaverse.”
In the four years since launch, the community has built the most widely used decentralized GPU computing network in the world — and become an essential part of the workflows of many of the leading 3D cryptoartists and independent content creators, powering over 5-million frames rendered to date in 2021. The Render Network has also developed partnerships across the technology ecosystem, creating a unique tapestry of interconnections between web3 networks and the largest technology companies in the world. This summer, several of the network’s leading creators — Beeple, Gene Roddenberry, and Alex Ross — showcased NFT archives that were built on Render’s technology platform.
The vision for the Render Network has always been broader than decentralized computing. The peer-to-peer GPU computing layer at the core of the network is fundamental and irreplaceable, but the open metaverse is about so much more. It will change how we communicate, interconnect, and most significantly, transform economies to realize the true promise of the information age — in which ingenuity and creativity displace industrial production as fundamental units of value.
Today, we are thrilled to announce that we are partnering with Multicoin Capital to advance the next generation of the network, helping Render evolve from its initial stage as a decentralized GPU computing platform. Multicoin Capital has supported and helped build some of the most transformational web3 technologies and next-generation decentralized platforms. They are an essential partner, and bring deep, crypto-native expertise that will help the Render Network realize its vision to build a broader economy for exchanging 3D goods and services in the open metaverse. Multicoin Capital and Render Network will be collaborating to expand the capabilities of the network to power everything from next-generation NFTs and immersive real-time streaming experiences to a marketplace of SDK-based microservices that are built on top of distributed GPU rendering.
Our integration with Solana and Metaplex is a major milestone in the path to achieving this vision. Solana’s high throughput, low latency and low-cost transactions are required to support the next generation of metaverse-native media distribution and monetization. With Metaplex, we will be able to power tokenized, NFT-based streaming and real-time gaming experiences using the Render Network’s immersive media and application streaming framework, X.IO. It will also enable us to build composable features into Render’s smart contracts directly on Solana, enabling complex and frictionless royalty flows and next generation peer-to-peer media monetization and digital rights management (DRM). These are all essential requirements for goods and services to evolve to meet the demands of the metaverse’s real-time, fully interactive and fully immersive virtual worlds.
The new funding will support a number of key priorities on our development roadmap. First, we are upgrading the tokenomic and governance specs of RNDR, the network’s native token, to support a wider range of uses that the community has been building on top of the network. The updated tokenonomics will introduce staking features that will create a new incentive layer and unlock a much wider range of users to contribute to the network. The second major priority is a new decentralization plan, which will outline the network’s strategy over the next three years. The goal of this plan is to put the future of the network fully in the hands of its users and the community through web3 incentives and novel governance structures. Lastly, The Render Network is also undergoing a substantial scaling sprint, which will improve everything from UX to the speed of development cycles.
Below is an outline of several additional key initiatives within the stated priorities:
- Increase usability of Render with a redesigned UX, in conjunction with one-click and scriptable scene exporting and NFT minting direct from Octane and the 20+ DCC integrations that Render supports — including Unreal Engine and Unity3D.
- Expand support capacity to provide always-on real time support for the network’s users, as well as building robust tools for our community to provide input and feedback in the development of the network.
- Increase development capacity to support more rapid development timelines in deploying Render client upgrades, SDK services, and API tools that the community can freely leverage and build on.
- Develop a Render marketplace built on Solana, enabling one-click, frictionless purchasing flows for NFTs, 3D assets and services built with The Render Network.
To the Render Genesis community, creator community and network of decentralized node providers around the world, we are so thrilled you have been a part of the early development of The Render Network. Your contributions to Render are timestamped, irreversible, and we hope, historically significant, as we all work together to realize the promise of the open metaverse. We are extremely excited to enter this next phase with Multicoin Capital, one of the pioneers of the emerging web3 economy. Over the coming months we will be sharing additional information about this next phase, including comprehensive materials about our tokenomics and roadmap updates.