Verasity: Trusted Advertising | Altcoinist Official Review

Project Overview

• Name: Verasity
• Website: Verasity.io
• Description: Verasity is building infrastructure and tools for video publishers and advertisers. It offers trusted cryptocurrency storage through VeraWallet and provides rewarded video through the "Watch & Earn" feature.
• Unique Selling Point: Verasity's patented 'Proof of View' (PoV) fraud identification technology aims to transform the ad fraud industry.
• Community: Over 500,000 members with a strong presence in 20+ local language communities.
• Achievements: Verasity has been awarded 6 patents and has over 300,000 Verawallet users.

Introduction

Verasity stands as a beacon in the vast sea of digital platforms, representing an open ledger ecosystem meticulously crafted to infuse trust and transparency into the realms of digital advertising and payments.

• Pioneering Ecosystem: This ecosystem is designed to address the challenges of misinformation and opaque metrics that often plague the digital advertising industry.
• Addressing Industry Challenges: Verasity emerges with a solution that promises to tackle these challenges head-on.
• Core Solutions: At the heart of this solution is the VeraViews ecosystem, a comprehensive platform that integrates various tools and features to ensure genuine and verifiable audience metrics.
• Patented Technology: Complementing this is Verasity’s patented 'Proof of View' (PoV) module, a groundbreaking technology designed to identify and eliminate fraudulent views.
• Revolutionizing Ad Industry: Together, these components position Verasity to challenge and revolutionize the paradigms of the often-criticized black-box ad fraud industry.

Evolution of Video-sharing Platforms

Tracing back to the last 17 years, the digital landscape has witnessed a transformative shift, particularly in the domain of video-sharing platforms.

• Historical Perspective: This shift began with the inception of YouTube, a platform that burgeoned into a global phenomenon, shaping cultures, trends, and even creating new career paths.
• YouTube's Impact: As technology evolved and user preferences shifted, new platforms began to emerge.
• Emergence of New Platforms: Platforms like TikTok and Twitch each brought their unique flavor to the video-sharing arena.
• TikTok's Revolution: TikTok, for instance, introduced the world to short, catchy video snippets, turning ordinary individuals into overnight sensations.
• Twitch's Niche: On the other hand, Twitch catered to the gaming community and live streamers, creating an ecosystem where viewers could interact with streamers in real-time.
• Transformative Impact: Collectively, these platforms have redefined the way we consume content, making video-sharing not just a form of entertainment but an integral and indispensable part of our daily lives.

Centralization Concerns

In the realm of digital video-sharing, a handful of significant platforms, including YouTube, TikTok, and Twitch, have taken center stage. These platforms are under the umbrella of massive centralized corporations such as Google, ByteDance, and Amazon. These corporations have meticulously crafted their revenue models to ensure they secure the lion's share of profits.

As they amass billions in revenue, it's evident that a substantial chunk of this income doesn't find its way to the content creators, who are essentially the pillars of these platforms. These creators, while driving the content that attracts users, often find themselves inadequately compensated. Their earnings and visibility are constantly at the whim of fluctuating algorithms and platform policies.

Conversely, advertisers, in their quest to reach their target audience, invest significant sums. Yet, a major portion of their spending is absorbed by the platform, further boosting the profits of these already dominant corporations.

Verasity's Solution

In response to the centralization and unfair revenue distribution in the video-sharing industry, Verasity offers a fresh perspective and solution.

• Decentralized Approach: Leveraging the power of blockchain technology, Verasity aims to decentralize video sharing and advertising, ensuring a more equitable distribution of rewards and profits.
• Patented Protocol: At the core of Verasity's solution is its patented protocol called Proof-of-View (PoV). This protocol isn't just a technological marvel; it's a testament to Verasity's commitment to transparency and fairness.
• User Rewards: With PoV, users aren't just passive consumers. They can actively earn VRA tokens by streaming or playing content, turning traditional video consumption into a rewarding experience.

Addressing Ad Issues

The digital advertising industry, especially within video platforms, grapples with a myriad of challenges that erode advertiser trust and diminish ROI.

• Skyrocketing Costs: One of the primary concerns for advertisers is the high advertising costs. With platforms charging premium rates, advertisers often find it challenging to achieve a satisfactory return on their investments.
• Bots & Fake Views: Another significant challenge is the prevalence of bots that artificially inflate view counts. These inauthentic metrics mean advertisers are often paying for views that have no real human behind them.

Verasity's Innovative Approach

Verasity's Proof-of-View (PoV) is not just a solution; it's a revolution in digital advertising.

• Eliminating Fraud: PoV addresses the core issues of the advertising industry by eliminating bot-driven ad views and NFT fraud. This ensures that advertisers get genuine value for their investments.
• Advanced Verification: Using over 200 touchpoints, PoV can accurately determine whether content is viewed by bots or genuine humans. This level of verification is unparalleled in the industry and sets a new gold standard for digital advertising metrics.

Benefits for Users

Verasity offers multiple avenues for users to earn cryptocurrencies:

• Participate in esports tournaments and earn rewards.
• Earn $VRA by watching videos and ads on various platforms.
• Claim tokens and transfer rewards to VeraWallet, a versatile digital wallet compatible with various digital assets and blockchain products.

Partnerships and Security

Verasity's commitment to excellence is evident in its strategic collaborations with some of the most renowned names in the esports industry. Their partnerships span across various popular games and platforms, including the likes of PUBG Mobile, VALORANT Challenger, CS:GO, and Tencent Games. These collaborations not only enhance Verasity's credibility but also expand its reach to a broader audience, tapping into the massive user bases of these gaming giants.

Beyond partnerships, Verasity places a significant emphasis on security. In the volatile world of digital currencies, ensuring the safety of user assets is paramount. Recognizing this, Verasity offers its users an "ultra-secure, all-in-one digital currency wallet." This wallet is designed with state-of-the-art security features, ensuring that users' digital assets are protected against potential threats and breaches.

VeraViews

VeraViews stands as a testament to Verasity's innovative approach to digital advertising. It is an all-encompassing ad-stack solution designed to address the prevalent challenges in the advertising industry. At its core, VeraViews harnesses the power of blockchain technology, known for its transparency and immutable nature. This ensures that every ad view and engagement is recorded transparently, eliminating the chances of fraudulent metrics.

Complementing this blockchain foundation is Verasity's patented Proof-of-View protocol. This protocol ensures that every view is genuine, filtering out bot-driven views and other forms of ad fraud. Together, blockchain's transparency and the security of the Proof-of-View protocol make VeraViews a groundbreaking solution, poised to redefine digital advertising standards.

Roadmap Highlights

2023:

• Q4: Introduction of VeraViews for ad relevance management for publishers and major UX/UI improvements in VeraWallet.
• Q3: VeraViews expanded its integration options and introduced billing and accounting features. VeraWallet launched the VeraCard for European residents.
• Q2: Significant updates to VeraViews for advertisers and a new UI design for VeraWallet.
• Q1: Continuous onboarding of new ad partners and publishers. Introduction of VeraCard for UK residents.

2022:

• Q4: Simplification of the VeraViews onboarding process and expansion of programmatic ads support.
• Q3: Complete product launch of VeraViews and approval of the Brightcove plugin.
• Q2: Launch of Proof of View with Brightcove Customers and the introduction of the VeraViews Enterprise Portal.
• Q1: Introduction of the Proof of View admin panel for Brightcove publishers and the launch of VeraEsports tournaments.

Team Overview

Verasity's success and innovative approach can be attributed to its core leadership, a team of experienced leaders dedicated to revolutionizing the video publishing and advertising landscape. Here's a closer look at the key members of the Verasity team:

• RJ Mark (Founder): The founder of Verasity has been a successful entrepreneur and technologist for over two decades. Since 1996, he has been at the forefront of developing high-growth hardware and software products for various platforms, including PC/MAC and mobile devices for both Android and iOS. With numerous patents under his belt, he has consistently managed the development and launch of products that have grown into well-known brand names.
• David Archer (Director & Legal Counsel): David brings over 30 years of experience in litigation, trust law, Not for Profit entities, Dispute Resolution, and Compliance. His expertise lies in Governance and Legal aspects.
• Robert Keogh (Financial Director): Robert has over 20 years of experience leading finance teams, especially within fast-growing SMEs. His specialization is in digital media and blockchain. He is a qualified accountant with training from notable entities like the Financial Times and Emap plc.
• Sergey Molybog (CTO): The CTO of Verasity is solutions-oriented and is highly regarded for his extensive experience (over 15 years) in developing, implementing, and supporting complex infrastructure in the video player, ad tech, CDN, and blockchain industries.

• Olena Buyan (Chief Product Officer): The CPO is a result-oriented professional with 9 years of experience in developing web and iOS apps, optimizing conversion funnels, and automating user flows. Recognized as one of the top Product Managers in tech by the Ukrainian IT Awards, the CPO has a proven track record of creating scalable and user-centric products.
• Dan Hodgson (Head of Business Development): Dan is an experienced advertising sales director. He is responsible for expanding the number of publishers and advertisers using the VeraViews ad stack and exploring new commercial opportunities for Verasity’s technology.
• Elliot (PR & Comms): Elliot is a seasoned crypto PR & communications professional. He has previously led communications for major crypto projects like Cardano. At Verasity, he evangelizes the product verticals to both B2B and B2C audiences.
• Kyrylo Bibik (Lead Engineer Blockchain Developer): Kyrylo is a high-load C/C++ developer with 11 years of experience. He has a strong background in working with online video platforms with high traffic volumes and is a co-inventor of the Proof of View (PoV)™ technology.

Verasity continues to grow and is always on the lookout for talented individuals who share their passion for innovation and problem-solving. The team's combined expertise and dedication position Verasity at the forefront of the video streaming and advertising revolution.

Verasity Token ($VRA)

The heart of the Verasity ecosystem is its native token, $VRA. This token is not just a mere representation of value but serves as the primary medium of exchange and utility within the Verasity platform. From rewarding users for their engagement to funding ad campaigns, $VRA plays a pivotal role in ensuring the smooth operation and growth of the Verasity ecosystem.

Key Features of $VRA:

1. Utility: The $VRA token is used across all product verticals of Verasity. It funds ad campaigns in VeraViews, facilitates transactions in VeraWallet, and serves as the basis for VeraPay.
2. Rewards: Users can earn $VRA by watching videos, participating in esports tournaments, and engaging with various content on the platform. This "Watch & Earn" feature is a unique proposition that incentivizes user engagement.
3. Staking: Verasity allows its users to stake their $VRA tokens and earn staking rewards. With a yearly reward rate of 15%, staking on Verasity can be a lucrative option for token holders.

Tokenomics

Understanding tokenomics is crucial as it provides insights into the token's distribution, utility, and potential value drivers.

1. Token Type: ERC-777, ensuring compatibility with a wide range of services and platforms in the Ethereum ecosystem.
2. Total Supply: 110.36 billion VRA tokens.
3. Circulating Supply: 10.36 billion tokens. This represents the tokens that are currently in circulation and available for trading.
4. Reserved Tokens: A significant portion, 90 billion, is earmarked for Verasity's ad stack technology. These tokens act as marker tokens for data circulation price within the network. Importantly, these tokens are not part of the circulating supply and won't impact the token's market dynamics in the short term.
5. Token Distribution: The distribution of tokens is designed to ensure the long-term sustainability and growth of the Verasity platform. This includes allocations for team members, advisors, platform development, marketing, partnerships, and more.
6. Utility and Demand: The demand for $VRA is driven by its multifaceted utility within the Verasity ecosystem. As more advertisers, publishers, and users join the platform, the demand for $VRA is expected to grow, given its central role in transactions, rewards, and staking.

Verasity's tokenomics is thoughtfully designed to support the platform's growth and reward its community. The clear utility of $VRA, combined with its limited supply and increasing demand, positions it as a token with significant potential in the evolving digital advertising and video streaming landscape.

Conclusion

Verasity is a promising project with a clear vision to bring transparency and trust to the digital advertising industry. With its patented PoV technology, strong community backing, and a comprehensive roadmap, Verasity is poised to make significant strides in the blockchain and advertising sectors. The project holds immense potential to disrupt the video streaming industry, ensuring rewards for all stakeholders.