Review Verasity ($VRA) – The future of Esport, Digital Entertainment, and AdTech is on the blockchain
The way media is made and monetized has changed. The individuals who create internet media are in a precarious situation, while the large platforms profit handsomely. Verasity offers a solution that may be beneficial to advertising and creatives.
What is Verasity ($VRA)?
Verasity is an esports, video entertainment, and digital content management protocol and product layer platform. Its products include a proprietary advertising platform and the VRA rewards system, which have been incorporated into SDKs for YouTube, Twitch, Vimeo, and all major video platforms. Additionally, it has patented Proof of View technology, which employs blockchain-based artificial intelligence, transparency, and immutability to combat online ad fraud. Proof of View verifies the authenticity of each view recorded on the ledger, therefore providing stakeholders in the video advertising sector with a trusted, single source of truth for collecting verified human views in real-time.
Verasity’s product lines span a wide range of sectors, but they are all based on the Proof of View platform. As part of its blockchain-based network, it provides a VeraWallet, where the VRA token serves as the primary currency for participation in the online variety game and video economy.
What is the project trying to achieve?
The Verasity project’s primary objective is to benefit the eSports sector, which has grown to be a multibillion-dollar business by rewarding gaming content. They do this task in two ways. The initial step will be to integrate Verasity Ad Stack, as well as Google mobile and desktop advertising, into its numerous apps. The second way is what they refer to as Proof of View (POV).
They reward both content authors and watchers using a more secure technique known as the blockchain. With the POV system for which they submitted for the Verasity patent, they considered putting the data in the blockchain network to ensure that audience metrics remained constant, so trying to supply advertisers with the most accurate data free of fake metrics.
What is the unique selling point?
Proof of View System
The PoV system’s innovative methods ensure that video views are confirmed as authentic before being uploaded to the publicly accessible blockchain database. By the process of eliminating fake views, the Verasity ecosystem is able to create a more valuable platform for viewers, creators, advertisers, and brands
- For creators: It is finally possible to compete on an equal playing field. By establishing a genuine and engaged audience, you can increase the value of your work while also ensuring that you are appropriately compensated for it
- For Viewers: As a result, the information that is revealed and suggested has been seen and interacted with by actual users. As a result, the genuine worth of the material can be determined, and the most suited content for the viewer may be found. Rather from being influenced by a third party, material may be appropriately appraised by the audience when viewers interact directly with the authors.
- For Advertisers and Brands: Your advertisements are seen by real people (users) – no more exaggerated metrics. Acquire genuine views and reach. Pay for what you receive rather than for counterfeits. Additionally, by utilizing the Verasity rewarded player, you can directly compensate viewers for their attention, allowing you to target engaged and opt-in audiences rather of individuals simply waiting for the “skip” button.
VeraEsports is a platform that fulfills the Verasity technology goal. On this platform, the technical concept is dubbed Watch and Earn, which allows users to broadcast content, earn money, and compete on the VeraEsports website while still benefiting from Vera’s point of view.
VeraEsports connects its broadcasters with industry luminaries and organizes events in partnership with Riot Games, Axie Infinity, Valorant, and luno. Verasity’s mission is to attract Esports lovers to the cryptocurrency business while simultaneously generating money for esports advertising enthusiasts.
The platform enables participants to:
- Create public or private competitions with VRA Prize Pools
- Participate in tournaments and pay entrance fees using your VeraWallet.
- Follow your progress on the leaderboard and see the current worth of the prize pool.
- Directly deposit tournament rewards into your VeraWallet.
- Connect big tournaments hosted by third parties to our platform via a simple API.
- Pay VRA entrance fees with a credit card using your VeraWallet.
VeraWallet is the official wallet for VRA tokens. With a VeraWallet account, you can:
- Stake the VRA tokens you already have into the VRA Staking Program for 25.55% per year
- Use VeraWallet to send your VRA tokens to any Ethereum wallet compatible wallet or to an exchange that lists VRA.
- Viewers watch rewarded content and ads on selected sites to earn VRA.
VeraViews uses a patented Proof-of-View technology to record valid ad engagement and it stores the data immutably on a public ledger. With VeraViews, advertisers only pay for valid engagement on ad campaigns, and publishers get paid faster because the attribution data is real-time and immutable. Veraviews delivers the market’s most secure advertising platform with lightning-fast payment and settlement terms, which is unheard of in an industry where consumers often wait up to six months to get paid.
Solving NFT fraud
The term “NFT fraud” refers to the misrepresentation of the owner of digital assets or the manipulation of the sale and transfer of such assets. NFT fraud is classified into six broad categories:
- Forging of original content without the owner’s consent
- Selling someone else’s legitimate NFT
- Attributing NFTs to legitimate brands without consent
- Duplicating NFT listings on multiple sales platforms
- Failure to sell due to insufficient buyer funds
- Removing access to the content after sale of an NFT
Verasity’s custom solution, built on Proof of View will:
- Verify the origin of the NFT art
- Verify the authenticity of the seller
- Verify the authenticity of the platform on which the art is listed
- Token Name: VERA
- Ticker: VRA
- Blockchain: Etherium
- Token Standard: ERC-777
- Contract: 0xf411903cbc70a74d22900a5de66a2dda66507255
- Token Type: Ultility
- Total Supply: 10,356,466,695
- Circulating Supply: 4.47B
- 30.5% Token Sale
- 25% Foundation Reserve (illiquid for an indefinite time period they say, but also ‘until it is needed’)
- 20% Founders & Team (locked until 2023)
- 13% Staking Program
- 7.5% Advisors & Partners
- 4% Rewards & Referrals
Token Release Schedule
Token Use Case
- Staking: VRA may be staked in conjunction with Verasity’s VRA staking program. The benefits are proportionate to the number of tokens invested.
- Earning: users can earn tokens by participating in the VRA network’s activities. For instance, customers may earn VRA tokens by watching videos on a publisher’s domain or on the VeraEsports website, referring their material to others, and performing other acts that directly improve a domain’s popularity.
- Spending: users may swap their VRA tokens for other cryptocurrencies via exchanges. Additionally, they may utilize the VeraWallet to purchase and sell VRA in exchange for fiat cash.
Market and Community
Verasity is a video platform that uses the PoV protocol to verify legitimate viewing. The patented system incorporates numerous measures, such as anonymous fingerprinting, that help to mitigate fraud and bot activity. As such, marketers should be prepared to pay a premium for actual viewing on the platform. Advertisers and other parties may now use VRA tokens to pay for their marketing campaigns. Meanwhile, users would be rewarded with tokens, resulting in higher engagement for providers of video content.
Find more information about Verasity:
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.