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This AI token is being called the Nvidia of crypto

This AI token is being called the Nvidia of crypto

With the reinvigorated interest in artificial intelligence (AI) technology, decentralized platforms that offer related services are facing increased demand, including Render (RNDR), the leading provider of decentralized GPU-based rendering and AI digital rights management solutions.

As it happens, the Render Network’s native token is currently witnessing massive gains in anticipation of the largest AI and GPU technology event of the year, NVIDIA GTC 2024, which will take place on March 18-21 in San Jose, California, and host Render’s founder and CEO, Jules Urbach.

According to the company’s blog post, Urbach will be giving his first live talk at GTC24 since before the COVID-19 pandemic and plans to discuss the future and advancements in the field of distributed GPU computing that the Render Network has been developing. As the blog reads:

“In this year’s talk, (…) Jules will unveil an updated vision for the future of generative AI, spatial media and decentralized GPU computing technologies. The talk explores how underlying GPU technologies can reshape various fields including gaming, visual effects, media, design, in the 2020’s and beyond.”

Furthermore, the event, organized by the AI computing behemoth Nvidia (NASDAQ: NVDA), will also feature other major names from the industry, including NEAR Protocol (NEAR) co-founder Illia Polosukhin, OpenAI COO Brad Lightcap and others, who will be showcasing the integration possibilities between blockchain and AI.

Render price analysis

Upon confirmation that its CEO will attend the conference, the price of RNDR has witnessed a substantial increase that saw it briefly trade above $10 before slightly retracing to the current $9.94, which still represents a 31.74% advance in the last week and a 127.90% gain on its monthly chart, as of data on March 8.

Render price chart. Source: Finbold

Ultimately, this is a good sign for RNDR, which suffered a blow after the United States Securities and Exchange Commission (SEC) placed it on the “problematic” token list last year, and the recent developments might position it as the ‘Nvidia of crypto,’ as it could become an essential AI infrastructure provider.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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