To find out even more about this project, check out our deep dive of Verasity.
What Is Verasity (VRA)?
Founded on May 18, 2018, Verasity (VRA) is the next generation of video-sharing aimed at creating a fair system for creators to earn from their work, and advertisers to gain value for their ad spend.
It achieves this through its proof-of-value (PoV) protocol, its product layers, and its platform esportfightclub.com — a pro-gaming streaming platform which features esports tournaments like PUBG Mobile — which is Verasity’s most important use case according to their whitepaper. The website combines all of Verasity’s products into one platform owned and controlled by Verasity. With a growing number of users, the platforms offer rewards in VRA for watching, subscribing and winning.
Verasity.tv, another product of Verasity aggregates publishers for YouTube, Twitch, Vimeo, JWPlayer, Brightcove, VideoJS, Kaltura, FlowPlayer, iVideoSmart and publishers on other platforms were struggling to earn revenue for their work. Advertisers are not willing to spend as much money on current advertising platforms like Google and Facebook because they are not confident that humans are looking at it all. Verasity’s proof-of-view protocol layer technology detects and eliminates fraud in real-time. It uses over 200 touchpoints to ascertain whether humans or bots are watching a video. Verasity also hopes to expand its proof-of-view technology and data storage technology to non-fungible tokens (NFTs). Verasity’s on-chain verification will make NFTs more valuable and add an extra layer of authentication to ownership claims.
Who Are the Founders of Verasity?
Verasity was founded by a team of professionals with a proven record in the video and media industry. They work full-time at Verasity, and they have been collaborating since 2017.
Mark R.J., founder of Verasity, was involved in the research and development of a compression algorithm for streaming applications used at Action TV in the United Kingdom in 2000. He later had a stint as CEO at a data management company — Datagard, which included several popular brands. Mark managed and founded other companies in media technology and privacy management before starting Verasity. He has over two decades of experience in media technology and streaming applications.
Director of the Versity Foundation, David Archer is a Solicitor, Barrister, and graduate of the London School of Economics and Political Science. Sergy Molybog, Kyrylo Bibik, and Dmytro Medianik are all specialists in general and object-oriented programming languages. They develop and manage the technology stack with other members of the Verasity team.
What Makes Verasity Unique?
Verasity is mostly unique for its proof-of-view protocol technology, the first patented protocol layer that produces precise, secure and verifiable audience metrics. Users can watch, earn and play on the Verasity Esportfightclub platform.
The Verasity watch and earn SDK is already being integrated by about 2 million publishers, each of which boasts a total website audience of 550 million views and a combined 110 million views monthly.
Verasity also offers a completely built-out functionality that serves broadcast publishers perfectly. The functionality runs on a UDP transport protocol and supports direct broadcast over the cloud. It has been tested with over 8 PB of data per month. Its SDK/OVP integration suits content creators and large-scale video publishers without significant changes in their workflows.
Its ad stack and waterfall help platforms manage timeout problems that may result from having multiple service switching points, and networks in one stack. Advertisers can buy VRA tokens to reward viewers for their attention. Programmatic partners of Verasity relay video ads and when a viewer views, the VRA token is paid. Verasity will reward viewers for holding their VRA tokens to encourage and increase demand for VRA across a broad spectrum of enterprises and individual users.
VRA can be earned for viewing and spent on multiple exchanges or held for rewards in APY. The project earns from the Esport platform which uses a pay-to-play setup involving subscription and membership packages. Verasity also gets a cut from the pools in jackpot tournaments on the platform. Other sources of revenue are fees for using its PoV, ad stack, waterfall and sales of modular B2B products.
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How Many Verasity (VRA) Coins Are There in Circulation?
There is a total maximum supply of 10 billion VRA tokens out of which 4.47 billion is currently in circulation. Verasity introduced a unique burn mechanism that allows the Foundation to buy back and burn VRA tokens to ensure stability and consolidate the value. Issuance of VRA tokens is based on participation in the Verasity ecosystem by viewing, playing games or buying on exchanges.
How Is the Verasity Network Secured?
Verasity uses a proof-of-stake (PoS) consensus algorithm based on the ERC-20 standards on which the native VRA token was issued. It combines that with its unique PoV technology to allocate VRA to deserving participants in the Verasity ecosystem. The algorithm is appropriate for a reward-based system and like meme coins on Ethereum which have become largely successful through the support of the community, Verasity will equally benefit from the huge network effects.
When Will VRA Trading Begin?
VRA is already traded on major centralized and decentralized exchanges. You can see the full list of exchanges VRA is listed on in the markets tab on CoinMarketCap.
Can VRA Hit $1?
With many projects built on Ethereum and VRA is an ERC-20 token, it is possible that the price of the token will reach new all-time highs. To hit $1, the market cap needs to increase by about $800 million, which is practically possible given the series of updates and features lined up by the developers of the project.
Where Can You Buy Verasity (VRA)?
You can buy the Verasity token (VRA) on major exchanges such as: KuCoin, Gate.io, Bittrex, Bithumb, Uniswap (V2), Uniswap (V3), OKEx and more. Check out the full list of exchanges Verasity is currently trading on here.
To learn more about how to buy VRA, BTC, ETH and other tokens, check out our education portal — CoinMarketCap Alexandria.