Investing in cryptocurrency is a risky endeavor, but it can deliver staggering returns if you find winners early. Render (RENDER +2.99%), a cryptocurrency for a distributed network of graphics processing units (GPUs), is a recent example. If you had purchased $10,000 worth of Render in 2020, it would now be worth over $1.2 million -- a return of over 12,000%.
The same amount invested in the S&P 500 (^GSPC 1.34%) would be worth $19,400, a 94% return. To be fair, plenty of cryptocurrencies have had brief periods of success but have been unable to sustain it. Let's take a closer look at Render to see whether it could still be a good long-term investment.
How Render has built a peer-to-peer marketplace for GPU power
Launched in 2017, Render Network brings blockchain technology to the world of graphics rendering. Graphics rendering is the process of turning a 3D model into a realistic image and doing it at a professional level requires a high-end GPU. Content creators who don't have one can rent the processing power they need through Render Network.
CRYPTO: RENDER
Key Data Points
Render Network is a peer-to-peer marketplace originally built on the Ethereum blockchain (it recently migrated to Solana). GPU owners can operate nodes to loan out and monetize their otherwise idle GPUs. The network connects them with creators in need of GPU power. Render tokens are the network's payment system. The Render Network sets the price based on the job's complexity, urgency, and resource usage, and the creator pays the GPU owner in Render tokens.
Graphics processing isn't the only reason people need GPU power. In recent years, GPUs have been in high demand for artificial intelligence (AI) tasks, including training AI models. Not all developers who want to build AI applications can access high-end GPUs. The Nvidia A100, considered one of the top GPUs for AI applications, costs over $8,000. Render Network could help more developers get started with artificial intelligence (AI) by drastically lowering the up-front costs.
The GPU-as-a-service market (meaning the market for renting GPU power) had an estimated global value of $3.4 billion in 2023, according to a report by Grand View Research. The report also estimates that the market will have a compound annual growth rate (CAGR) of 21.6% through 2030. It's a multibillion-dollar industry so far, and it's expected to get much bigger over the rest of the decade.
It has clear utility and impressive growth
Render has a clear use case, which is a good sign in a cryptocurrency investment. It's also building up a strong community and user base, and content creators have used it for several interesting projects that received mainstream attention.
Digital artist Brilly credited Render Network as "the final tool that saved our deadline" when creating a digital ad for Coca-Cola at the Las Vegas Sphere in November 2023. Artists and studios used Render Network to create a Star Trek spatial experience for the Apple Vision Pro, which was released in February 2024.
In large part, because of these projects, usage of Render tokens soared. Nearly 1.1 million tokens were used in the fourth quarter of 2023, which doubled from the third quarter. It also had 10 million rendered frames in 2023, up from 8.8 million in 2022.
The momentum continued in 2024. On its Medium account, Render Network reported that network usage more than tripled in 2024. It also exceeded 40 million rendered frames, more than four times the number in 2023. And that pattern will likely persist.
The AI boom could make Render a top 10 cryptocurrency
Render is currently one of the top 50 cryptocurrencies, although it's much closer to the bottom of that group than the top. While its price has declined since the start of the year, Render's AI applications could help it rebound and potentially reach new heights in 2025.
AI is continuing to grow. Most major tech companies are using AI, offering AI services, or both. Last month, the Trump administration announced the Stargate AI infrastructure project, with up to $500 billion in private sector investments from OpenAI, SoftBank, and Oracle. The interest in AI and the money being poured into it will drive demand for GPU power. Render Network is a convenient way to rent that GPU power instead of buying your own GPU.
No cryptocurrency is a slam dunk investment, and there are challenges Render faces. Other companies offer remote GPU rendering services -- Microsoft Azure and Amazon Web Services (AWS) are two notable competitors. However, they're geared toward large businesses. While Render can serve companies, it's particularly well suited for individuals by virtue of being a peer-to-peer network.
Since Render is primarily for content creators and GPU owners, it also has a smaller target market than some of the top cryptocurrencies, albeit a market estimated to grow by 21.6% per year. Programmable blockchains, such as Ethereum and Solana, have a much wider range of uses, including decentralized finance (DeFi) and play-to-earn crypto games.
Even though Render has a more focused niche, it provides a valuable service, its usage skyrocketed in 2024, and GPU power remains in high demand. Given its current position, Render is worth considering if you're looking for crypto investments with real-world use cases.
It probably won't match its early growth in value, so you shouldn't expect a small investment in Render to make you a millionaire. But it's still in the early stages of its development, and if it continues to attract new users, it could eventually become a top 10 cryptocurrency.
