What is Verasity? In-depth Analysis of Verasity & VRA

I. What is Verasity?

Verasity (VRA) is a blockchain-based platform that caters to the e-sports, video entertainment, and advertising industries. The platform aims to generate revenue for video creators in a transparent manner based on their number of followers and rewards from viewers.

Verasity offers its own advertising platform and VRA rewards system as its main products, which have been incorporated into the software development kits (SDKs) for various popular video platforms such as YouTube, Twitch, Vimeo, and others.

II. History of Verasity

Verasity was founded in 2017 by David Orman and Chris Gale. The idea behind the platform was to create a transparent and fair revenue-sharing model for content creators in the video entertainment industry, including esports.

The platform’s initial focus was on building a proprietary video player that enabled viewers to earn cryptocurrency rewards for watching and engaging with videos. In 2018, Verasity launched its initial coin offering (ICO) and raised $25 million to fund its development.

After the ICO, Verasity expanded its focus to include the integration of its reward system and advertising platform with other popular video platforms, such as YouTube, Twitch, and Vimeo. In 2019, Verasity partnered with esports organization Team Vitality to integrate its technology into the organization’s streaming platform.

In 2020, Verasity launched its own esports tournament platform, allowing players to compete in a variety of games for cryptocurrency rewards. The company also announced partnerships with several gaming companies, including UltraPlay and Enjin, to integrate its rewards system into their platform

III. Striking Features of Verasity

Verasity’s unique payment feature, which automatically pays customers in their personal wallets for revenue generated on the platform, has made it an attractive investment opportunity. The project has been successful in attracting hundreds of thousands of daily visitors since its launch.

Recognizing the potential for growth in the cryptocurrency market, Verasity is determined to capitalize on the opportunity to increase its influence. To achieve this, the company has been organizing award events and offering international exchange activities to connect its markets and build a larger community. The company’s strategy includes achieving the highest trading volume on exchanges, maintaining a perpetual prize, maintaining an active and professional development team, building an income prediction model with near-maximum accuracy, and optimizing transaction times with preferential costs through automatic payment.

Verasity’s main features

Verasity is a cryptocurrency market leader that has gained a significant presence in e-sports, video, and advertising by leveraging its Proof of View technology, which has received a US patent under the “Technology to help eliminate advertising fraud” category. The company aims to drive engagement and revenue for content creators through any platform by rewarding participants using its proprietary blockchain protocol layer.

Verasity addresses the problem of bots viewing up to 40% of online advertising, leading to a loss of around $160 billion of the $400 billion spent on online advertising. Furthermore, more than 2 million video creators are affected by the brands’ reluctance to pay much for advertising, leading to less revenue. The company’s technology detects and eliminates ad fraud in real time by using 200 touchpoints and AI to determine whether bots or humans are viewing ads or content based on viewer behavior. The Proof of View system also prevents bad actors from manipulating view counts and audience metrics.

IV. Core Technology of Verasity

Rewarded video player

Verasity utilizes rewarded video player technology as part of its services for publishers and game developers, which distributes rewards in the form of VRA tokens to users and supports customer acquisition and retention programs. This technology has been integrated into over 500 games in the Crypto GameStore and supports more than 2 million video producers across various major video players.

Proof of View protocol

In addition, Verasity is recognized for its Proof of View protocol that employs blockchain-based AI to increase transparency and prevent fraud in online advertising. This technology verifies the authenticity of each view and records it on the blockchain, providing a trusted source of truth for capturing verified human views in real-time. All of Verasity’s product lines are built around the Proof of View protocol.

V. What is VRA?

1. Detailed Information about VRA

VRA, or Verasity, is a cryptocurrency token that serves as the native currency of the Verasity platform. Verasity is a blockchain-based platform that aims to increase engagement and drive revenue for video creators, e-sports, and advertising by using its proprietary Proof of View technology. VRA is used for various purposes within the Verasity ecosystem, including as a means of rewarding content creators, facilitating transactions between participants, and enabling advertising on the platform.

• Name: Vera Token
• Symbol: VRA
• Blockchain: Ethereum
• Standard: ERC-20
• Token Type: Utility
• Contract: 0xf411903cbc70a74d22900a5de66a2dda66507255
• Circulating Supply: 4,470,185,346VRA
• Total Supply: 19,310,636,532 VRA

2. VRA Allocation

• Research & Development: 20%
• Platform: 18%
• Marketing: 17%
• Legal & Admin: 2.5%
• Business Dev: 1.5%
• Contingency budget: 1%
• Technology Licenses: 20%
• Contractors and Salaries: 20%

3. Use Cases of VRA

Functions of VRA token:

• Used to pay for in-game purchases. When participants want to access the games on the platform, they will have to purchase VRA tokens.
• VRA tokens are also used to reward users who watch videos or staking.

VI. How to earn & own VRA?

As a token built according to ERC-20 standards, VRA tokens can now be easily purchased at reputable exchanges such as: KuCoin, Uniswap, Coinbase, Bancor… When trading on these exchanges, you complete your transaction. You can rest assured because these are all trusted exchanges with a trading volume of up to hundreds of millions per day.

VII. Which Crypto Wallets are suitable for VRA?

You can store VRA tokens on VeraWallet to use for platform operations.

In addition, VRA is an ERC-20 token, so you can store this token at popular wallets such as Metamask, Trust Wallet, Coin98 Wallet, Coinbase Wallet, etc. or store it right on the exchange.

VIII. VRA Recent Developments

Verasity’s Development Roadmap

Since its inception, Verasity has developed its roadmap in great detail. Below is the development roadmap of the project by the end of 2022:

Second quarter of 2022

• Live Streaming Proof of View with Brightcove customers
• PoV-enabled smart contract for NFT
• NFT market development and beta for game publishers
• Collaboration with Vera Card
• VeraWallet: Automatic KYC.

Third quarter of 2022

• Public launch of MVP on NFT marketplace:
• Introducing a platform to create, mint, and sell in-game redeemable NFT items to game publishers
• Purchasing function for market buyers
• Resell function to market sellers
• Introducing public user profiles and NFT collections.

Fourth quarter of 2022

On the product side:

• VeraWallet: Website Improvements
• VeraEsports: New video library tagging and classification system
• Verasity: Single sign-on across Verasity products (major update)
• Verasity: Identity and access management service for user authentication and authorization
• Verasity: Improved account security by introducing multi-factor authentication through phone numbers.

On the project side, Verasity will support integration on Verasity’s services.

IX. Teams, Funds & Partners of VRA

1. Team

Verasity was founded by David Orman, a UK-based serial entrepreneur with over 20 years of experience in technology, marketing and digital media. The team also includes industry veterans and experienced developers from various fields, including gaming, blockchain, video streaming and advertising.

2. Investment Funds

Verasity has received investment from a number of funds and firms, including:

• Quantstamp: A blockchain security firm that performed a security audit of Verasity’s smart contracts and codebase.
• Crypto Global Capital: A venture capital firm that invests in blockchain and cryptocurrency projects.
• TokenMarket: A token sale and ICO advisory firm that helped Verasity with its token sale.
• GBV: A blockchain venture capital firm that invests in early-stage projects.

3. Partners

Verasity has partnerships with several companies and organizations in the gaming, video streaming and advertising industries, including:

• Enjin: A blockchain-based gaming platform that Verasity has integrated with to allow game developers to easily incorporate Verasity’s rewards system into their games.
• Amazon Web Services: Verasity uses AWS to host its infrastructure and scale its operations.
• VideoElephant: A video content distribution platform that Verasity has partnered with to provide video content for its video player.
• GameStreamer: A gaming distribution platform that Verasity has partnered with to distribute games and offer rewards through Verasity’s platform.

Conclusion

The above is Waytrade’s comment on the Verasity project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions. 

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