Tired of revolutionary B2B concepts from dry-haired sleazy financial experts promising you financial independence after just one free webinar? As intrusive and unintentionally trashy as YouTube advertising is, it is what makes it possible for video producers to monetize their content. Away from the big streaming platforms, alternative platforms and browsers are trying to convert the ad-driven model. With a concept similar to that of the Brave browser, which rewards users for watching commercials with its BAT (Basic Attention Token) cryptocurrency, the Verasity video platform wants to improve the monetization of content, using blockchain technology.
Verasity declares war on bots
As lucrative as the advertising business is on video platforms, creative businesses and individuals lose millions each year because traffic is manipulated. According to IT security firm Barrakuda Networks, bots accounted for 64 percent of Internet traffic last year. The damage affects the advertising industry in particular. Statista estimates that the global loss from digital ad fraud exceeds $80 billion this year. Trend in recent years: growing.
Verasity claims to have found a solution to this problem: Vista Test. Proprietary Proof-of-View (PoV) technology detects fake page views by bots and ensures that only “real” views are recorded. Verasity assigns users an ID, tracks video views, verifies them as real, and then records them on the blockchain.
watch and win
This is where the native cryptocurrency of the VRA platform and VeraWallet come into play. Publishers are rewarded with VRA token based on the (real) number of clicks, viewers in turn receive VRA when they watch videos with or without ads. The growth of VRA points to the network effects of PoV technology: “The more viewers join the Verasity network, the higher the revenue,” the white paper says. VRA tokens can be traded or staked through trading venues.
One focus is on esports, which Verasity covers with the VeraEsports platform. Here, too, the project is based on Watch and Earn: users watch esports tournaments and receive VRA for their staying power. This is where the growth potential could still lie dormant. The gaming and esports market is growing rapidly. Gambling and cryptocurrencies form a great intersection, corresponding brands can advertise their products well in this area.
chances of success
Verasity competes with other alternative social media platforms like DLive, DTube, BitTube, or VibraVid, but it may have found a solution to an industry-wide problem with Proof-of-View technology, which is already built into video players. most popular video, from Youtube to twitch. The team also has many years of experience in the crypto and development area and has so far been able to maintain the roadmap not short. But does the farmer also eat what he does not know? Whether Verasity can steer users away from the big platforms remains to be seen.
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