How many Render Tokens do you need to become a millionaire in the next bull run?
Today, we're going to bring everything into focus and see where this million-dollar mission takes us.
So, fire up your GPUs,
grab your Pudgy Penguin plushies,
put on your price prediction pants
because the BitSquad's going to the moon.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
In this video, I'm breaking down how you can render yourself
into an IRL millionaire by stacking Render Tokens.
The Render Token topped out at about $8.78 in the last bull run.
It happened on November 21, 2021.
Hold on to that number.
We'll come back to it later.
Render spent six months from June 2022 to January 2023
binging and bonging between 20¢ and 40¢.
Since January though,
Render has been one of the biggest movers and shakers in the bitter cold of crypto winter,
currently trading at about $2.20.
Render is up in an ice-melting 450% to date.
It's enough to give even dirty Gary tears of FOMO.
Ah, sweet, sweet lizard tears.
Right up front,
I need to let you know that I do not currently hold any Render,
but I'm very bullish on this project and I definitely am considering it.
And although I tend to put my money where my mouth is,
I've never accepted any money from Render business.
The information in this video is simply my thoughts on a project I really believe in
and it's for educational and entertainment purposes only.
It's not financial advice.
And as always, please do your own research.
But before we go aping in,
let's buffer in a little more detail and check under the hood
to see what's causing all the hype around Render Token these days.
If you don't know, the Render Token, or RNDR is a cryptocurrency
that powers the Render Network.
The Render Network is a decentralized platform that supports rendering high quality 3D graphics.
Let's break this down a little further.
Say you want to render something using the Render Network,
like a cute little plushie of your favorite Pudgy Penguin NFT,
or a 3D model of Frankie Candles' calf muscles,
or your favorite Lambo, mine.
It's right over there.
First, you submit what's called a job,
which is then broken down into tasks,
and these tasks get distributed to other users on the Render Network
who have spare GPU power.
Users who complete these tasks, they get paid in Render Tokens.
So, the Render platform allows users to monetize their extra GPU capacity
and brings a decentralized option to the 3D graphics rendering marketplace.
It also really brings out that new Lambo shine.
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Founded in 2016 by Jules Urbach, CEO of OTOY,
Render is billed as the next step in the open metaverse revolution.
And it's headquartered in LA.
Jules is no joke.
When he was 18, he launched a 3D video game platform
and licensed some of his tech to Macromedia,
which was then bought and used by Adobe, Disney and Warner Brothers.
Not bad for a high school gamer, am I right?
But now I'm sure you're saying,
"Ben, that's all great, but why the bear market pump?"
Well, most analysts point to the Render community accepting two proposals,
RNP-002 and RNP-003, on April 26,
which approved the migration to the Solana blockchain
and a new method of allocating network resources.
Now, if you watch this channel, you know how I feel
about Solana.
Sorry for the unexpected pause.
But just because they're easy to make fun of
doesn't mean that Solana isn't still a growing ecosystem.
Not the same pace as before.
Render Network said in a statement
that they chose Solana because of its high TPS and low latency,
which will enable decentralization of core rendering processes
and unlock a lot of possibilities for future development.
They're getting to work right away.
Render Network is funding the development of open source Rust GPU tools for the RNDR SDK
to enable developers to use the Solana smart contract virtual machine
and Render Network GPU nodes together.
Very powerful combination indeed.
Okay. Enough fundamentals.
Let's do some moon math.
But first, a word from our sponsor.
Based on the strong fundamentals and interest we've seen during the bear market,
I think that Render could get a lot of jet fuel heading into the next bull run.
Render has a very active and loyal community,
and more and more industries are incorporating 3D images into their businesses
like gaming, medicine, architecture and others.
Render under falls into the category of distributed computing on CoinMarketCap
along with big names like ICP, Filecoin and Helium.
As of today, Render is currently ranked #53 on CoinMarketCap overall,
with a price of about $2.20 and market cap of just over $800 million,
where its current circulating supply is around 366 million Render Tokens.
By the time we get to the height of the next bull run,
depending on usage of its network and its mint and burn mechanism,
we could be looking at somewhere around 470 million tokens.
On the low end,
I think Render will certainly make a run.
Its all-time high could hit resistance around $8.
At this price, you need 125,000 Render Tokens to become a millionaire,
which will cost you $275K if you buy them today.
Not cheap.
But if Render keeps riding this momentum and breaks its previous all-time highs,
as it very well could,
I could see it running all the way up to $10
before hitting some psychological resistance,
as prices tend to do.
At that level, you need 100,000 Render Tokens to join the millionaire club.
That's going to set you back $220K.
Still pretty steep.
However, if everything goes their way and they start to eat into the market share
captured by big boys like Amazon, Microsoft and Google,
well, there's no telling how high Render could go.
I can see it getting up to as much as $15 in the next bull run.
That will give it a market cap of over $7 billion,
given our estimated 470 million tokens in the supply that time,
and it would mean you need about 67,000 Render Tokens to be a millionaire.
Today, that's going to run you just under $150K.
I know these prices are pretty steep,
but there's a lot of time left before the next bull run,
and Render Token's price could make a correction and come down before that,
making your millionaire moon math a lot more attainable.
I'm going to be keeping my eyes on this one and looking for a good entry.
I guarantee you the smart money's going to be doing the same.
So let's look at one scenario where Render goes bananas.
It's the new graphical engine for ChatGPT or Midjourney or something crazy like that.
What if Render Token hit a double-digit billion-dollar market cap?
If Render were to go parabolic and hit a $40 billion market cap,
then a bag of 10,000 Render would net you a cool million.
At today's prices, that will cost you about $23,000.
That's a 46X.
And that's a possibility considering the upside this project has.
Render is a great project.
And Render Token has a strong bull case.
But the big question they have to answer is,
can they beat their centralized competitors?
AWS, Google Cloud, Azure and others.
Especially on Solana blockchain, which many people say is centralized itself.
There are a lot of big centralized players that are already providing rendering services
backed by the latest and greatest NVIDIA GPUs.
Stiff competition even for an OG high school gamer.
Let me know down in the comments if you think Render Network has what it takes
to render the centralized competition helpless.
And let me know what you think of my price predictions
and where you think this little pixelated fella will peak in the thick of the next bull run.
That's all I got.
Be blessed.
BitBoy out.