Video-sharing platforms have exploded over the past 17 years or so, since the launch of YouTube. Since then, we have seen YouTube videos, vines, Twitch streaming, TikTok, JWPlayer, and countless other big and small platforms that allow to create and post all kinds of videos, from gaming to comedy, amateur and professional documentaries, travel vlogs, DIY videos, and pretty much anything else that you could ever think of the recording.
And, of course, just like with anything else on the internet, this is all owned by centralized corporations that are profiting from other people’s work by allowing them to post videos, and allowing advertisers to post their ads on those videos. Advertisers get the exposure, creators get small compensations for having their videos used that way, and the intermediaries — companies that own these platforms — keep most of the money.
And, as is the case with every other industry, sector, and example of centralization where the users benefit the least while doing the most — the blockchain industry found a way to turn the tables on these major corporations and empower the users. When it comes to streaming, the project that addressed the situation is called Verasity (VRA), which is why we decided to talk about it today and see what it has to offer.
How Does Verasity (VRA) Work?
Verasity is a blockchain company that aims to create an entirely new experience in esports, AdTech, and digital rights management. Everyone stands to benefit from using this project, with professional players gaining the opportunity to win tournaments and earn rewards, viewers can watch esports and earn crypto while doing it, while advertisers can rest assured and know that their ads are viewed by actual people.
The project aims to accelerate the evolution of esports with blockchain by partnering with some of the biggest names in esports, including PUBG Mobile, VALORANT Challenger, CS:GO, Tencent Games, and others.
Next, the project also guarantees the security and growth for the users’ portfolios by offering an “ultra-secure, all-in-one digital currency wallet” for all those who are fans of esports and non-fungible tokens.
Finally, it features a product called VeraViews, which is an end-to-end ad-stack solution that combines the transparency and accountability of blockchain technology with the security of Proof-of-View, Verasity’s own, patented protocol.
What Problems Does Verasity (VRA) Solve?
Let’s start by talking about what solutions the project has to offer and how can it resolve some of the problems that are plaguing video and streaming platforms.
Proof-of-View
Verasity developed its own protocol called Proof-of-View, which is one of the features that make it truly unique. This represents the first patented protocol layer that offers secure, precise, and verifiable audience metrics. Because of it, users can watch esports, earn VRA while doing so, and even play on the platform.
The project’s watch-and-earn SDK is being integrated by over 2 million publishers, who attract a combined 110 million views per month.
Aggregates publishers for various centralized streaming platforms
Verasity features a product called Verasity.tv, which aggregates publishers for a variety of major platforms, including YouTube, Twitch, JWPlayer, Vimeo, Kaltura, Brightcove, VideoJS, iVideoSmart, FlowPlayer, and more. Basically, wherever there are content creators/publishers who are struggling to earn revenue for their work thanks to the flawed, centralized model, Verasity offers its own service as an alternative method of earning. This attracts players and viewers, but more than that, it also attracts advertisers.
Advertisers get to present their ads to actual users
There are two big problems with advertisements on traditional video platforms. First, they have to pay major amounts of money to have their ads posted, and most of it never reaches content creators whose videos are actually being used for advertisement, and two – advertisers can never be certain that their ads are being viewed by actual humans, rather than bot viewers. To ensure that they will keep paying the money for advertisers, some platforms allegedly employ bots to view the content, and so advertisers keep paying for the viewers to watch their ads, but they don’t see an increase in sales.
This has also been a problem with the companies like Facebook and Google, which is why advertisers are giving up on working with such platforms, and instead, companies are entering deals with individual creators to have their products promoted. Everyone has witnessed their favorite YouTuber promoting a sponsor at the start, middle, or the end of their video. This is what these firms have had to turn to in order for them to get their ads across, and what creators were forced to turn to in order to actually receive proper payments for their work.
Eliminates fraud
With the project’s Proof-of-View, it can eliminate fraud when it comes to ads viewed by bots, as well as for NFT fraud. In fact, Verasity is setting a new standard for transparent authentication of NFT art, NFT sellers, and NFT marketplaces. Meanwhile, the Proof-of-View technology monitors the platform and detects and eliminates fraud in real-time. It uses more than 200 touchpoints to analyze viewership and conclude whether the videos are being watched by bots or humans, making it all transparent and giving advertisers what they paid for.
Accelerating the evolution of esports
Verasity has the potential to speed up the evolution of esports on blockchain, by allowing users to access world-class games and gaming content, all layered on superior technology.
Benefits of Verasity (VRA)
Next, let’s talk about a few benefits that concern the project’s users more directly. Here is what you can gain by engaging with Verasity yourself, today.
Earn crypto
Verasity allows its users to actually earn cryptocurrencies in several ways. You can always join tournaments on major esports games and earn prizes for good performance, or you can earn VRA by watching videos and ads on sites of publishers and creators you love. The project features a small trophy icon which, when turns green, means that you can claim your tokens and withdraw the rewards to your VeraWallet.
All-in-one wallet for esports, NFTs, and regular crypto
Speaking of the VeraWallet, it is a special wallet created by Verasity which is compatible with all kinds of digital assets and blockchain products, including regular cryptocurrencies, as well as NFTs.
Final Thought
Verasity is a project that aims to disrupt online gaming in a way that rewards everyone who engages with it, in one way or another. Advertisers, for example, will actually get what they paid for, while gamers and viewers stand to gain monetary rewards for playing and watching esports.
