A New Rendering Project On The Blockchain Is Going To Attract $ 134 Million
The goal of the Render Token project is to raise funds for the launch of the P2P network based on the Ethereum technology blockchain, which will use the participant's graphics processors for rendering and streaming for a consideration of RNDR tokens.
The project is created by well-known in the "graphic" circles company OTOY, founded in 2009. The company has large projects and cooperates with Facebook, Disney, Mattel and Samsung, has famous advisors and investors (Eric Schmidt, Samuel Palmisano, Brendan Hayk, George Gilder).
The sale of tokens started on October 5, 2017 at 17:00 GMT, and will last 30 days. The project road map is informative, the launch of the beta version of the product is planned already in the second quarter of 2018. It is safe to say, that the company of this project has a good reputation, so the risk of fraud is extremely small. The only thing that raises questions is the uncertainty of an approximate date for launching the finished product.
The financial part
Hard Cap (maximum amount of required investments) of the project - $ 134 million, which can propel this project to the top leaders in terms of the amount of finances attracted through ICO. The information about Soft Cap is not mentioned. There is also no information about the actions in the case of not raising $ 134 million, which can cause some kind of uncertainty and may discourage investors.
It is planned that 65% of the total number of issued tokens will be remained inside the network in the form of a fund. The developers argue this step with the fact that buying RNDR on a secondary exchange may cause difficulties. As demand for the services of the network grows, they will "throw" tokens from the fund into the network. However, 10% of emission volume remains with the team, for a period of sales freeze for a period of 6 months, namely until May 2018, which is, in general terms, the same as the launch date of the beta version of the network.
Perspectives of the project
Considering the rate of graphics development and the development of technologies' mainstreaming of both augmented and virtual reality in life, the project can be called effective. It is worth noting that the demand for graphics processors, which are already extensively used for the crypto currency mining, is growing, but it's getting more complicated to get blocks, and the efficiency of mining farms is declining.Therefore, these same capacities can be redirected to other technologies, including rendering.
Difficulty of mining a block in the Bitcoin network 2014-2017
As mentioned above, $ 134 million is a very large amount. That's why, in order to raise such amount of investmets, the high popularity of the project among investors is required. But according to the most popular resources there is no evident interest considering this ICO and in future it can result in causing considerable difficulties with attracting the necessary amount..
During the first day, only 0.66% of the required amount was collected.
In contrast, a similar project Golem (decentralized supercomputer) in the fall of 2016 was able to attract $ 8.6 million, what is incomparable with the goals of Render Token
The idea of the project is very interesting and promising with strong both company and people on the background. But too high fund request and a lack of information what concerns the distribution of funds in case if less than $ 134 million will be collected, raises some fears. It is possible that the team should pay much more attention to the issue of PR of their project.