What is Verasity?
The Verasity token or VRA is a utility token native to Verasity - a blockchain-based video-sharing platform with a focus on, but not limited to, eSports.
VRA has more than one use case, however, its primary function is to serve as a medium of exchange powering the entire Verasity ecosystem.
As for the token itself, VRA is based on the ERC-777 standard, although, it was initially launched as an ERC-20 token. While VRA is being transferred onto another token standard, it has still remained on the Ethereum blockchain.
There is a max cap of 110,356,466,695 VRA tokens. Since there is a limited token supply, there’s a possibility that the VRA price will grow under certain conditions. These conditions must include a steady demand and an increasing scarcity of the VRA token.
You can acquire VRA by visiting one of the supported exchanges. Check out our list of recommended exchanges for purchasing VRA in the above section.
VRA is a cryptocurrency, and, as such, it tends to be quite volatile. This results in fluctuations in the VRA price. Because of this aspect, it’s crucial to monitor VRA before making any purchase decision.
Various tools can be used to monitor cryptocurrencies. One of them is the VRA price chart above. It will provide you with the price history and trends, among other token details.
What are the Main Features of Verasity?
Verasity is a video-sharing platform powered by blockchain technologies.
It claims to be especially valuable to publishers who don’t make enough revenue from advertising. This is because advertisers don’t have any proof of whether their ads will be watched by actual people. This is where Verasity comes in - it provides real and tangible proof (on the blockchain) of the number of people reached by a specific ad or an entire ad campaign.
One of the primary goals of the project is to change the game of digital advertising by utilizing said blockchain technologies to greatly increase ad revenue from videos. Verasity aims to achieve this with the help of its ad tech stack layer, VeraViews, and its exclusive consensus mechanism, PoV, among other features within the ecosystem.
Starting off with VeraViews, Verasity’s unique ad tech stack, which is an anti-fraud solution. It provides advertising campaign data.
Interestingly, VeraViews was developed utilizing the Proof-of-View, or just PoV, technology. What exactly is PoV? It’s an ad-centered anti-fraud protocol layer technology. To put it simply, PoV is a type of blockchain technology that brings unique fraud detection capabilities.
For example, PoV can be used to determine whether a video is being watched by an actual person or just another bot. This is highly valuable information as it allows advertisers to see how many people their ads reach, thus, eliminating ad fraud.
It also serves as a security measure against the manipulation of view counts and other ad metrics like engagement.
VeraView can be integrated into other platforms. What’s more, is that viewers can be rewarded with VRA tokens for watching content or performing specific actions on another platform outside of Verasity.
One of the key advantages of PoV is real-time fraud detection. Meaning advertisers won’t have to wait until the end of an advertising campaign to see results and, in turn, won't have to file documents to get money back.
Verasity aims to provide future NFT utility with its PoV technology.
As discussed in the “What is Verasity“ section, the VRA token is the driving force behind Verasity. It’s paid out to users for contributing to the Verasity ecosystem. These contributions can be simple actions such as watching a video and subscribing to a streamer or something more complex like creating their own team and streaming their gameplay.
VeraEsports, previously known as esportsfightclub.com, is another crucial component of the Verasity ecosystem. You can find the most popular games such as Counter Strike GO, PUBG, Dota 2, Valorant, and Free Fire. VeraEsports mainly brings in revenue from a Pay to Play model as well as tournaments.
Verasity.tv, or just Verasity.io, is the platform containing all of the SDKs mentioned above. They support well-known video players like Youtube, Twitch, and Vimeo, as well as non-mainstream video players like JWPlay, VideoJS, Laktura, Flow, and Brightcove.
VeraWallet is Verasity’s digital wallet made exclusively for VRA tokens. One of its core functions, aside from storage, is staking. This means that VRA holders can stake their tokens directly on the VeraWallet. The VRA staking program guarantees an APY of 18.25%.
In addition to serving as a storage for your VRA and enabling VRA staking, VeraWallet provides a way to earn VRA tokens by simply watching videos.
When it comes to security, Verasity operates on a hybrid Proof-of-Stake (PoS) consensus mechanism that integrates the aforementioned PoV technologies. This mechanism is responsible for distributing Verasity tokens among eligible users.
Verasity ensures security via audits. Iosiro, a cybersecurity company, conducted a smart contract audit for Verasity. It’s publicly available for anyone to review.
Who Developed Verasity?
The Verasity crypto project was launched in the spring of 2018. It was founded by RJ Mark - a tech entrepreneur with a background in software and hardware development. Prior to the launch of Verasity, Mark worked at Action TV where he greatly contributed to the development of a compression algorithm for video streaming purposes. He also served as the CEO at Datagrad.
The rest of the core team behind the project consists of professionals from a variety of video streaming and technology industries including Director David Archer, CFO Robert Keogh, CTO Sergey Molybog, CPO Olena Buyan, CMO Elliot Hill, Director of Business Development Dan Hodgson, and Lead Engineer Kyrylo Bibik.
Aside from major players in the gaming industry, Verasity has signed partnership agreements with Brightcove - a video streaming technology company.
If you’re considering purchasing this token, don’t forget to check the Verasity price chart for more detailed information on price history and trends.