What Is Verasity (VRA)?
According to the whitepaper, Verasity is a blockchain company aiming to revolutionize esports, advertising technology, and digital rights management. Verasity is solving the problem where out of some $400 billion of online advertisements, as many as 40%, or approximately $160 billion worth, are seen by bots and not humans. Over two million video publishers are dealing with the issue of brands refusing to pay a high price for ad space because they don't believe that humans watch advertisements. Even Google and Facebook are required to repay significant sums to brands every quarter, as ad fraud companies discover the fraud after brands use the facts to justify repaying their ad expenditure. This harms YouTube and other content suppliers, as they receive far less money.
Verasity combats the issue with their proof-of-view technology. The current standard is to analyze after the content has been provided, which is usually near the end of an advertising campaign. Verasity's system detects ad fraud in real time. Verasity can tell whether a bot or a human is watching an ad or content based on the viewers behavior in real time. There's no need to wait for a post-delivery fraud investigation or ask publishers for refunds because ad fraud is recognized and destroyed instantly.
Verasity tackles the second element of the challenge, which is to account for valid ads, once the view has been authenticated as genuine. The facts are processed to give a final score during this phase, where the view is scored. Verasity's technology employs advanced algorithms to ensure that only proof-of-view views are counted. Verified views are recorded on the blockchain and uploaded to a publicly available database.
As stated on the website, Verasity also provides for multiple features on its platform:
VeraEsports: VeraEsports is opening up a world of possibilities for users at the convergence of gaming and cryptocurrency. VeraEsports allows esports fans and players to participate in, watch, and enjoy their favorite esports tournaments. Players and teams can also compete in tournaments, create their events, grow their brand, and interact with fans on VeraEsports. Verasity's Watch and Earn program allows esports fans to win prizes. Besides this, through VeraEsports, Verasity seeks to launch a feature where crypto enthusiasts can trade NFTs of gaming and video material that can be safely kept and authenticated on the blockchain.
VeraWallet: VeraWallet is a secure cold-storage wallet designed to keep VRA tokens safe. A cold wallet, also called a hardware wallet or cold storage, is a physical device that stores cryptocurrency offline. Many of them resemble USB drives.
VeraViews: VeraViews is a solution that detects ad fraud in real time while remaining completely visible to all parties—all while protecting personal information. Ad fraud is the term used to describe computer-generated ad interactions that are used to mislead publishers and advertisers into believing that a user is engaging with an ad.
Additionally, the platform token of Verasity with the ticker VRA is an ERC-777 token. VRA is explicitly designed for value exchange and transfer in the esports, variety gaming, NFT, and video economy worldwide. Verasity buys back and burns VRA tokens. The burning of tokens means sending the tokens to an unusable or invalid address. When tokens are sent to such wallets, they cannot be retrieved back, and hence they are lost forever. The reason behind burning the tokens is to reduce the supply of the tokens, which further results in an increase in the token prices.
History of Verasity (VRA)
RJ Mark founded Verasity. Mark has been inventing hardware and software solutions for various platforms, including PC/MAC, Android, and iOS mobile devices, since 1996. He has been managing the development and introduction of items into well-known brand names for over 20 years and has many patents to his name.
David Archer is the director and legal head of Verasity. Archer has over 30 years of experience in litigation, trust law, not-for-profit entities, conflict resolution, and compliance.
How to Stake VRA?
Verasity enables the functionality of staking. Users receive staking rewards by staking VRA tokens. According to the platform website, users can earn 25.55% per annum by holding VRA tokens in their VeraWallet.
