V-Ray 1.5 Technology preview - Here are some of the recent developments for V-Ray 1.5 for 3ds Max, expected this fall. Some of these features were shown at SIGGRAPH. Among the new features - the new sun and sky system is a combination of an environment texure map (VRaySky) and a special light type (VRaySun). Both of them work together for creating a procedural environment that can be used for quick and reallistic lighting setup of daylight scenes...................Take a Sneak Peek!! Related website Link
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