A while back, there was a thread that I THINK was here (either here or at CGTalk and I couldn't find it there, either) that linked to a tutorial that detailed a method for procedurally generating a paint chip mask in 3DS Max. Can anyone else remember it?
EDIT: This was the result, just as an example, and it could produce variable size and amount of edge chipping:
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At the bare min you cause it as a place to start, render it out and just paint out some of the chips.
Yea Neil never disappoints.
Cavity map, inverted, thresholded?
That's what I was thinking. Tried playing a bit with it this morning but didn't get it right, almost got there. At least the masking edges part. Might play a bit more with this.
If you guys try any of this and get some results then please share your insights
Maybe a variant on the Pits and Peaks script would work for finding the edges better?