With AI enveloping much of the media we consume nowadays, Render (RNDR) is gaining traction in the generative content space. The token has seen a significant increase in value, with a 26% rise this week and a 60% jump over the past month, indicating investor excitement about its potential role in the media industry.
In 2023, Render made headlines by carrying out rendering jobs for the Las Vegas Sphere and Apple’s Apple Vision Pro, further showcasing its capabilities in the media and AI sectors.
2024 is The Year For AI
This year, Render’s position as a decentralized GPU-based rendering solution provider is strengthened by the developments in generative AI. OpenAI’s Sora has become a prominent example of generative content, capable of creating high-fidelity prompts. Founder and CEO of OTOY Jules Urbach highlighted Render’s role in blending neural generated assets within a rendered scene graph.
More Partners, More Growth
Render has expanded its partnerships with other Web 3 organizations after implementing RNP-004. Nosana recently joined the list of partners, which includes IO.net, Beam, and FedM1.
RNDR Slows As Market Becomes Sluggish
As the overall market cools down, RNDR may also experience a decline in the coming weeks. Investors and traders should monitor how RNDR responds to external pressure. Bulls should aim for the 50% retracement level to counter bearish pressure in the short to medium term. If bears gain control, RNDR could drop to $4.6.
Hot Take: The Future of Render and AI
Render’s growth alongside advancements in generative AI indicates a promising future for the platform. As big tech companies continue to release AI products, investors recognize Render as a major player in cloud-based rendering. The combination of AI and Render’s capabilities opens up new possibilities for content creation and redefines the boundaries of human creativity.
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