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Making Sense of Web3’s Burgeoning AI Ecosystem

Although the intersection of Web3 and AI has great potential, there is a lot of confusion about this emerging technology in the market today. Mapping out the GPU supply chain, layers of the tech stack, and various competitive landscapes can help investors better understand the ecosystem and make more informed investment decisions, says David Attermann, at M31 Capital.

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Render Delivers With 40% Gain As RNDR Dominates Sunday Charts

Among the top gainers on Sunday, CoinMarketCap shows that Render (RNDR) has achieved a 41% growth over the past week. The crypto actually dominated the roster of the day’s leading coins.

Render (RNDR) has been among the top performing crypto assets in the last few weeks. Render allows owners of the increasingly powerful graphics processing units (GPUs) industry to deliver computing power during periods of low demand.

Render (RNDR) – At A Glance

The Render (RNDR) Network is a blockchain-powered, decentralized, high-performance, distributed-computing platform. It was developed to help businesses in the film, animation, gaming, and architecture industries complete complicated rendering projects quickly and affordably.

To fulfill the need of large-scale rendering projects, the RNDR Network offers a scalable and decentralized solution by letting users leverage underutilized GPU capacity from other network participants to speed up their rendering processes.

The RNDR coin is the in-network currency that may be exchanged for computer power, staked for network rewards, and used to elect leaders. In sum, the RNDR Network utilizes blockchain technology and distributed computing in an effort to completely overhaul the rendering process.

Network Gains Traction And Attention

It’s no surprise that Render has been getting a lot of attention lately, what with the proliferation of the metaverse and the growing need for rendering services in a wide range of enterprises. So, the recent uptick in RNDR should not come as a surprise: widespread consensus among the rendering community to get ready for the inevitable increase in demand.

Render debuted in 2017 and spent the first half of 2018 in private sale. Render takes advantage of Ethereum’s built-in security features when uploading and transferring nodes to operators, as the network is based on the Ethereum blockchain.

RNDR Rallies Strong

At the time of writing, RNDR was trading at $2.47, up 41% in the last week. Over the course of a two-week timeframe, the token has rallied 46%, while maintaining a solid 93% increase in the monthly period, data from crypto market tracker Coingecko shows.

Render Network Proposal 002 and Render Network Proposal 003 have both recently been given the green light by the Render project’s governance section.

The goal of RNP-002 is to allow for more users to take part in the network’s decentralized infrastructure by adding more Layer 1s.

To integrate the Solana network into its services, RNDR holders voted overwhelmingly in favor of the idea.

On the other hand, RNP-003, which was also accepted by the Render Network community with a two-thirds majority, concerns itself with the accumulation and distribution of project funds.

The objective is to provide the organization with the tools and infrastructure it needs to carry out its objectives. It can then focus on its mission and the expansion of the network.

-Featured image from Invezz

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China Reports GPU Price Fall To All-Time Low Post Ethereum Merge

The successful Ethereum upgrade to proof-of-stake consensus is receiving more backlashes from the market. Therefore, the Ethereum upgrade should produce only positive feedback, but where there are merits, demerits must exist.

One of the aftermath challenges the industry faced since the Ethereum upgrade was the drop in GPU prices. Graphic Processing Units (GPUs) in crypto mining increased over the years because they proved very efficient.

GPU companies were earning huge profits due to the increased demand from ETH miners. However, it is no longer so, as the price of GPUs has dropped drastically over the past three months. Furthermore, the prices of GPUs dropped further after the upgrade.

Is Ethereum Merge Major Cause Of GPU price Crash?

South China Morning Post (SCMP) reported that GPU prices in China dropped to the lowest due to the Ethereum merge. ETH mining has reduced. So miners’ demand for GPU went low. Miners’ demands for expensive cards such as GeForce RTX 3080 and RTX 3090 became low and caused a reduction in price to trice the factory prices.

Also, due to the China mining ban and COVID lockdown, the demand for costly GPUs fell and worsened during the bear market. A Shanghai trader, Peng, told SCMP that RTX 3080 dropped by over 37% in the last three months.

According to Peng, the price of RTX 3080 went from 8000 yuan ($1,140) to less than 5000 yuan (%712). Peng attributed the drop in the price of GPUs to the poor condition of the crypto market.

Ethereum mining was one of the highest contributors to the high demand for GPUs in the past years. Traders noticed a slump in GPU prices as the Ethereum merge drew near.

Ethereum price climbs above $1,300 l ETHUSDT on Tradingview.com

SCMP reported that retailers at ‘Buy Now,’ a large electronics market in Shanghai, are experiencing low GPU demand.

Retailers Lower GPU Prices

Chinese retailers reduced factory-suggested GPU prices by over 33% in a few weeks to sell their equipment. The reason for this is the crypto bear market and GPU correction market.

According to data from Baidu, traders are losing the selling price compared to the factory cost of GPUs. Analysts estimated that the average price drop of GPUs per week is about 10%.

Some reports show that NVIDIA, a large GPU manufacturer, is reducing the price of their GPU for board partners. This report is still unconfirmed, but it would likely cause further reduction in the coming weeks.

Although the crash in GPU prices may adversely affect many businesses, others think it marks the end of two years of nightmare. Many GPU retailers would previously raise the prices as high as possible because of the high demand by miners.

The crash in GPU prices could prove beneficial to AI coders, gamers, and other users because Crypto miners caused an unnecessary increase in GPU prices.

Featured Image From Pixabay, Charts From Tradingview