Render (RNDR) Launches Incentives for Node Operators, Will Price Break $3?
Render Network has launched its incentive program worth approximately 1.14 Million Render (RNDR) tokens billed for distribution to its node operators.
Render Token Distribution Begins
According to its post on X, the Render Network plans to distribute more than one million RNDR tokens to node operators who joined the network via Compute Clients. Noteworthy, this volume of coins is only meant for the first year of emission until after its proposed migration to the Solana (SOL) blockchain. Render is kick-starting this initiative with io.net as its first Compute Client partner.
Backed by industry giants like Apple, Render is boosted by a web of Graphic Processing Units (GPUs) which can conduct massive parallel workloads across various use cases through its Software Development Kit (SDK). The network has attained a status where it can conveniently support compute jobs across Machine Learning (ML) training, inference, and fine-tuning functions.
Based on the plan, Render is committed to distributing the first batch of 300,000 RNDR tokens by the end of this year. This is specifically targeted toward new GPU node operators coming on board as Compute Clients.
Door Open to New Node Operators
Ryan Shea, Advisor to the Render Foundation reiterated the network’s plans towards boosting the growth of fresh node operators joining the network from external Compute Clients. As such, the Foundation has its doors open for thousands of nodes that wish to join the network, especially those geared towards supporting Artificial Intelligence (AI), Large Language Models (LLMs) as well as other GPU-intensive compute needs.
The CEO of io.net Ahmad Shadid highlighted that the partnership with the Render Network will provide easy access to the Render community backed by quality consumer-grade GPUs. Furthermore, he stated that the protocol will expand the use cases of their nodes to go beyond rendering to ML applications.
“This partnership will strengthen both of our offerings, and we look forward to working together. We are excited to launch at Breakpoint and expand to meet the needs of the incredible growth of AI and ML,” Shadid noted.
Render (RNDR) Price to $3?
At the time of writing, Render’s (RNDR) price is changing hands at $2.23, down by 3.83% in the past 24 hours. The slip-off is unusual, considering AI-based tokens has been on a parabolic run in recent times. When profiled by its year-to-date gain of 29% in the past month, the upside for growth is high.
This incentivization program can change the narrative for Render (RNDR) price in the short term, aligning with earlier projections its price can touch its resistance level at $3 in the short term.