Render Network, a decentralised rendering project, raises $30 million

The Render Network startup, which provides tools for 3D rendering for projects NFT and metaverse projects, has raised $30 million.

The funding round was led by Multicoin Capital. Other participants included Alameda Ventures, Sfermion and the Solana Foundation, as well as business angels Vinny Lingham and Bill Lee.

Rendering is the process of visualisation in computer graphics. The Render Network’s decentralized network enables doing this remotely by purchasing computing power with RNDR tokens. They are provided by other users whose GPUs are idle at the moment.

This approach gives independent digital artists and small studios access to substantial computing power without the cost of hardware.

The Render Network currently runs on Ethereum and Polygon and is in the process of integrating Solana and Metaplex support.

According to словам of the founder of Render Network and CEO of OTOY, Jules Urbach, Render Network is used by such well-known NFT artists as Mike Winkelmann (Beeple), Pak and FVCKRENDER.

Urbach noted that the total NFT sales volume for pieces created using 3D rendering on the network has reached $800 million.

He also сообщил that the startup plans to build on Solana a marketplace for NFT, 3D resources and services created using the network. To this end, the project intends to double its staff, Urbach added.

In November, Christie’s sold Mike Winkelmann’s NFT for $28.985 million.

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