CoinMarketCap takes a deep dive into Verasity (VRA), a platform that offers increased engagement and advertising revenues and eliminates advertising fraud.
Verasity (VRA) offers a unique patented Proof of View system through which it plans to solve the problems of video advertising and NFT fraud. Verasity’s product lines range across multiple industries but are all built with the Proof of View platform as their backbone. It offers a VeraWallet on its blockchain network on which the VRA token is used as the main currency for participating in the online variety gaming and video economy.
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How Does Verasity (VRA) Work?
Verasity is a protocol and product layer platform for esports, video entertainment, and digital content management. Its products include a proprietary ad stack and the VRA rewards system which has been integrated into SDKs for YouTube, Twitch, Vimeo, and all major video platforms. As well as its patented Proof of View technology, which uses blockchain-powered AI, transparency, and immutability to defeat online ad fraud. Proof of View ensures every view captured on the ledger is authentic and ultimately provides stakeholders within the video ad space a trusted, single source of truth for capturing verified human views in real-time.
Verasity (VRA) helps to power the rapidly growing esports industry and gaming community by offering reliable server infrastructure, Proof of View security functionality, and VeraPlayer — a product layer platform for video entertainment.
On November 8, it announced that its Esports Fight Club (EFC) platform was rebranded to VeraEsports — representing the firm's updated vision for its technology. This expanded vision includes a new offering known as "Watch & Earn" — which allows users to stream content, earn and compete on the VeraEsports website, while advertisers still benefit from Verasity’s Proof of View tech.
With this solution, Verasity looks to provide a bridge to bring esports fans into the crypto industry, while boosting revenue for esports advertisers and enthusiasts. VeraEsports offers access to streams from some of the biggest names in gaming, with tournaments hosted by the likes of Valorant, Riot Games, and Axie Infinity. It has also teased an upcoming NFT marketplace with both in and out of game content for its users.
Verasity has also expanded its Proof of View patent to include NFTs. The product offering will provide marketplaces and buyers the ability to verify the authenticity and accuracy of NFTs — ensuring those minting or selling the NFT are who they say they are, and the NFT is what it claims to be.
The Team Behind Verasity (VRA)
Verasity (VRA) was founded by RJ Mark who is an entrepreneur and technologist. Other members of the core leadership include:
- David Archer - Director & Legal, Verasity
30 years experience in litigation, trust law, not-for-profit entities, dispute resolution, compliance, and governance.
- Robert Keogh - Financial Director
Specializing in SMEs within digital media, blockchain, and cryptocurrency.
- Justin Wenczka - CRO
10+ years experience in ad tech, focusing on advertising security and performance.
- Maryam Mahjoub - CMO
Experienced CMO with 17 years in marketing, has worked with HL7, ConsenSys, and the Cardano Foundation.
- Sergey Molybog - CTO
15 years of progressive experience in developing technical solutions in the video player and blockchain industries.
- Olena Buyan - CPO
Result-oriented Chief Product Officer with a proven track record of creating scalable, insight-driven, and user-centric products.
Verasity (VRA) Roadmap
Verasity has an incredibly well-defined and specific roadmap developed to achieve their business cases in each market. To date, the team behind the platform has met all of its quarterly roadmap goals, and an extensive list of objectives has already been locked in for the next quarter.
Recent achievements include introducing the VeraWallet, referral integrations, listing on various exchanges, growing ad campaigns, running Esports tournaments, and launching a revamped tournament site.
In Q4 2021, Verasity intends to launch an NFT marketplace, along with VeraViews, a full-stack advertising platform, and several other products. For a full list, check out the official roadmap.
Unique Features of Verasity (VRA)
Proof of View System
The Proof of View system serves as a countermeasure to the manipulation and fraud that is rife in the online video advertisement world. With over 65% of all video ad views being fraudulent (manipulated by bots), publishers, advertisers, and content creators all have an inherent need to resolve the issue of fraud. The advanced methods used by the PoV system make sure that the video views are verified as genuine and only then added to the publicly available blockchain database.
VeraEsports
Designed to be a next-generation platform for community engagement, VeraEsports allows users to access content from global creators, and to earn rewards by watching, participating in, and creating tournaments. The platform creates new social and economic opportunities for the video gamers, teams, tournament organizers, viewers, and brands in the global esports industry by incentivizing genuine viewership through its Watch and Earn program — which enables viewers to earn redeemable points by watching their favorite tournament streams.
VeraWallet
VeraWallet serves as a cryptocurrency storage and payment gateway that allows users to store, stake, and trade VRA tokens. VeraWallet leverages cold-storage principles to maximize security and allows users to stake their tokens to earn rewards. The wallet now has over 250,000 users and continues to grow in popularity alongside Verasity and the online gaming world as a whole.
VRA Buyback and Burn
Verasity has scheduled buyback and burn events in which fiat is used to buy VRA from crypto exchanges and burn it. This reduces the overall supply of the token and increases the demand over time.
VRA Token Use Cases
Staking
VRA can be staked as part of Verasity’s VRA staking program. The rewards earned are proportional and based on the number of tokens staked. As it stands, the platform currently offers 25.5% APY on staked tokens until March 2022 - although this may be extended.
Earning
Users can participate in the activities offered by the VRA network to earn tokens. For example, they can watch videos on a publisher's domain or on the VeraEsports website, refer their content to others, and perform other actions that directly increase the popularity of a domain to earn VRA tokens.
Spending
Users have the option to convert their VRA tokens into other cryptocurrencies on exchanges. They can also use the VeraWallet to buy and sell VRA in return for fiat currency.
Verasity (VRA) Tokenomics
The total supply of VRA tokens is 10,368,525,869 and the circulating supply of VRA tokens currently stands at 4.47 billion.
Verasity (VRA) Price
Verasity (VRA) is now trading at around $0.06178, as of Nov. 20, 2021. Its 24-hour trading volume on exchanges is around $76.5 million.
Verasity (VRA) Price Prediction and Future Outlook
The Esports industry has grown 50% from the last year and experts believe that it could reach a whopping $1.62 billion by 2024. This implies that anything that has even a narrow overlap with the online gaming world has significant potential.
Since Verasity enables esports and the video entertainment industry at large to host streams on its platform, and the VRA token is used as a currency in online gaming, the price of the VRA token has a strong chance of breaking through the $0.10 threshold and could exceed $1 in the near future.
Beyond this, over the last few weeks Bitcoin (BTC) has reached successive all-time highs (ATHs). This means that the cryptocurrency market is in the midst of a bull run. If this market performs similar to previous bull runs, this means altcoins with solid fundamentals could experience a parabolic run to successive ATHs. As they say, "a rising tide lifts all boats", this often holds true in the cryptocurrency market, where a strong Bitcoin move can kick-off an alt-coin season.
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