What is Verasity (VRA)?

Verasity is a transparent ecosystem aimed at combating advertising fraud, granting unrestricted access to infrastructure for both publishers and advertisers, and incentivizing users to view video content. Additionally, it offers payment options and a rewarding staking system ensuring a guaranteed 15% yield until April 2024.

Focused specifically on esports, Verasity operates as a video and gaming platform centered on user attention. It operates on the Ethereum blockchain and aims to address issues within the current advertising model. RJ Mark, an experienced tech developer with over 25 years in hardware and software, founded Verasity in 2018. 

The platform intends to integrate with video giants like YouTube and Vimeo, offering crypto rewards to viewers and establishing a fairer revenue system for these platforms.

Verasity's primary goal is combating ad fraud. Utilizing patented Proof of View (PoV) technology, Verasity aims to eradicate the widespread scams affecting digital advertising within esports networks. Brands suffer significant losses due to fraudulent practices employing bots and other manipulative tactics to inflate views. Unlike trading bots that can execute a user's strategy safely, ad bots cause harm and disruption to a platform.

Moreover, Verasity has devised a strong NFT (non-fungible token) authentication chain to counter fraud by establishing blockchain-based ownership of esports assets. The platform aims to leverage the NFT surge in the crypto space to provide value to esports enthusiasts worldwide.

VRA serves as Verasity's native token, offering convenience for staking, earning, and spending within the Verasity ecosystem. Viewers can easily earn VRA by watching video content and ads, boosting engagement and increasing revenue for video platforms. Initially an ERC-20 token, VRA has evolved into an ERC-777 token, equipped with improved smart contract compatibility, and is available for trading on various cryptocurrency exchanges.

Who are the founders of Verasity?

The Verasity team comprises nearly 50 individuals, encompassing developers and community managers. Details about the Verasity executive team can be accessed at: https://verasity.io/about.

R J Mark, the CEO of Verasity, initiated the company's founding. The leadership at Verasity consists of seasoned blockchain professionals, marketing specialists, advertising industry veterans, and experienced product owners and developers, involves Robert Mark, David Orman, Chris Gale, David Rowe, and Adam Simmons and the supporting team.

Since its inception, Verasity has experienced substantial growth, emphasizing the recruitment of top-tier talent. Most of the senior leadership team is situated in London, UK, reflecting the project's focus.

How does Verasity operate?

Brands or agencies kickstart a Verasity ad campaign by depositing VRA tokens into the VeraWallet, establishing an escrow pool that compensates publishers and rewards participating viewers.

Viewers engage with the ads, and PoV collects real-time statistics for analysis. Each legitimate ad view recorded on the blockchain unlocks the escrow pool, distributing VRA tokens to the publishers and viewers.

In this manner, Verasity ensures that brands and sponsors only pay for verified and authentic ad engagement, creators and publishers receive timely compensation, and viewers are incentivized to watch ads.

What sets Verasity apart?

Verasity distinguishes itself through a unique approach to combatting fraud in the ad tech sector, employing a strategic synergy between VeraViews and Proof of View (PoV) technology. Both elements collaborate to benefit all three parties involved in the video streaming platform—advertisers, creators, and viewers.

VeraViews operates as a blockchain-based ad-tech stack utilizing off-chain and on-chain components to ensure video ads reach genuine users. Meanwhile, Proof of View (PoV) stands as a patented system that securely verifies audience views, recording metrics on an immutable public blockchain.

Leveraging PoV technology, Verasity confidently discerns whether a bot or a human is viewing an ad based on real-time viewer behavior. Typically, any suspicious views necessitated detailed fraud analysis, causing delays in payments to advertisers that could take months.

To read more information on Verasity (VRA), visit Suncrypto Price Explorer