Investing in crypto assets might seem like an easy decision to make. However, once you start looking at coins other than Bitcoin and Ethereum, you soon arrive in a forest filled with good, bad, and terrible projects. What to look at? Tokenomics? Supply? Price of the coin? You first need to ask yourself whether you are investing for the short or long term. Let me tell you about a project that solves a real-life problem and has great potential as a long-term investment. Verasity ($VRA) is such a project. Verasity is a game changer in the industry. Not only does it solve a real problem and fight ad fraud, but it brings transparency and security. Let’s dive into Verasity Review.
The problem?
Let’s start this Verasity review with the overview of the global market. The advertising market is extensive, and a recent report showed that the digital ad market grew by 15% as the growth rate returned to pre-pandemic levels. However, this growth also brings the problem: of ad fraud. Marketers and advertisers fight daily with fake views, bots, and fake clicks. Because of that, they lose much money every day; to be more precise, it costs them $35BN per year.
Even Google Ads has problems with quality traffic. If you ever placed a PPC campaign on Google Ads, you know that Google will eventually give you a refund when they discover that some or most of the traffic was fake. That refund comes in late, but it’s still a refund.
Fighting ad fraud has never been easy, and companies are trying to find a solution. However, Verasity and its platform, VeraViews, have found a way to prevent those fake views, clicks, and traffic.
The solution – What is Verasity?
Verasity is a blockchain company looking to create an entirely new experience in esports, AdTech, and digital rights management. The company’s mission is to significantly increase engagement and monetization for video publishers on any video platform. It achieves this through its proof-of-view (PoV) protocol. The first patented protocol layer produces precise, secure, and verifiable audience metrics.
So, imagine. You are a digital marketer and want to get the most visitors, subscribers, or buyers when you place your ad. But you get the views and never good conversions. You wasted money because most of your budget went to bots, fake views, and ad fraud. But with Verasity, you will know precisely what junk traffic is and what valuable traffic is. You get better, quality, traffic and save money. Instead of figuring out what went wrong with your ad and scratching your head, you can focus on providing the best products and quality service.
You can get a glimpse into Verasity 2023 roadmap in the following YouTube video:
Verasity Benefits & Patented Proof of View (PoV)
With patents secured in both the U.S., China, and South Korea for its revolutionary Proof of View (PoV) technology, Verasity is developing proprietary technology that helps eliminate ad fraud across video advertising channels.
Verasity is already a revenue-generating project through growing ad revenue, with several product verticals actively deployed and used by enterprise clients. I will discuss those clients later in this Verasity review blog post.
Ad spending is extensive; by 2024, it’s estimated that advertising spending worldwide will be over $645 Billion—a vast potential, especially when you know that 40% of that goes to ad fraud. And Verasity is here to prevent it. – How?
Utilizing over 200 touch points and AI, VeraViews determines with very high confidence whether a bot or human is watching an ad or content based on the viewers’ behavior in real time. So, for publishers and advertisers, there is no more waiting for the reports and waiting for a refund from Google Ads or Bing Ads.
However, Proof of View is much more than just that. Verasity’s proprietary Proof of View technology can be integrated into smart contracts to protect NFTs at the point of minting. PoV also provides authentication of several parameters, including a chain of ownership.
Here is how Verasity detects fake views. Verasity’s Proof-of-View system detects multiple methods viewers may try to manipulate view counts and audience metrics, such as:
- Looping views: automated, repeated viewing of videos (we’ve all done it)
- Loading multiple videos in parallel in multiple browsers
- Loading videos in hidden windows and tabs
- Just playing videos without watching content which manipulates analytics
- Attempting to alter the views database.
Verasity Product Layers
There are a few product layers. There are VeraViews, VeraPlayer, VeraWallet, VeraEsports, and VeraVerse.
Rebrand & rollout of VeraViews.com as a standalone product is complete. And it’s now fully integrated with Brightcove (partner). VeraViews is the main product, an open ledger advertising ecosystem; this entire ecosystem is built around PoV technology. It’s a platform that gives you an overview of impressions, views, and good traffic.
VeraEsports is one of Verasity’s most important use cases, combining Verasity’s market-leading ad tech products into one Esports platform. On VeraEsports, you can watch games, play games (such as CounterStrikeGo, PUBG, and Dota2), and earn tokens while watching videos and games. When watching, you earn points that you can later redeem for some awards. VeraEsports’ primary focus is to secure rights to exclusive Esports tournament broadcasts.
VeraWallet is a custodial wallet storing Verasity’s utility and ecosystem token, $VRA. VeraWallet stores rewarded tokens and are a payment system providing crypto and non-crypto payment options. And Verasity will soon have a debit card integration. VeraWallet has over 130k users and offers them an 18.25% yearly staking option. This staking reward is available until March 31, 2023.
$VRA holders use VeraWallet to send their VRA tokens to any compatible wallet or to an exchange that lists VRA. VRA is listed on KuCoin, gate.io, Bithumb, SimpleSwap, Okex, Uniswap, and many more. VeraWallet offers you to buy VRA coins directly with bank transfer; you can use your credit or debit card and purchase coins that go directly to your VeraWallet.
VeraVerse is still in development, and it will be an NFT marketplace. You can watch a video intro about VeraVerse here. I will update this Verasity Review once more products are live.
VRA Tokenomics
$VRA is a digital currency created exclusively for exchanging and transferring value globally in the esports, variety gaming, NFTs, and video economy. $VRA is used in Verasity’s ecosystem for participation on VeraEsports, earning staking rewards on VeraWallet, incentivizing ad views and engagement on the B2B VeraViews ad network, and, soon to come, fraud management for NFT.
Verasity and VeraViews have been recognized and well-accepted in the community. However, the token has gained less popularity or recognition. It’s like it’s disconnected from the company. That is why the price of the token is still very acceptable. The biggest concern is VRA tokenomics, or, to be more precise, regarding total and circulating supply. Let’s break it down.
If you look at coinmarketcap.com, you will see that the total supply is over 110bn. And when you look at the circulating supply, you will see that 9% is in circulation or 10bn tokens. Your first reaction is probably shocking. The second thing is that you would say that the VRA coin is worth nothing because 90% of the token supply is still not in circulation. And you might be wrong. Another shocker, right?
Yes, the total supply is 110bn tokens, but 80% of that will never be in circulation. Why? Because those tokens are PoV market tokens. When publishers and advertisers use VeraViews or leverage the VeraViews ad tech stack through some Verasity partners (such as Brightcove or Amazon Ads), they must deposit VRA tokens to VeraWallet and create an escrow pool. Funding of ad campaigns comes from this escrow pool. And thus, this ample supply of VRA tokens must exist for VeraViews to function and sustain Verasity’s business model.
Still, trying to understand the supply? Ok, let’s break it down further.
VRA Total Supply
There are 110bn tokens in total supply:
- 10% of that is circulating supply (10bn tokens). Out of that 10%, 0.8% goes to staking rewards, 2% is for the Verasity team, a little over 2% is currently locked in staking, and 4.5% of tokens are in the open market.
- 10% are Warchest tokens. (Those tokens are set aside for potential acquisitions of other companies, and currently, these tokens are not in circulating supply).
- 90% or 80% (depending on if Warchest tokens are used) of tokens are PoV market tokens.
Only tokens in circulating supply affect the price of $VRA. Warchest tokens might impact the price in the future. This means that if we add 10% of Warchest tokens to circulate, we will have 22bn tokens in total circulating on the market in the future. And that’s it! This means that 50% of the circulating supply is already active, and it all depends on if those tokens that are reserved for potential acquisitions will come into circulation if ever used.
Why are all tokens in total supply, and there is no distinction? Because minting of all tokens is happening under the same contract address, total and max supply are the same in this case.
Yes, Verasity has deployed a token buyback and burn mechanism. They will gradually burn $VRA from the circulating supply, thus reducing the number of VRA tokens available to trade.
It’s time to talk about the price of VRA. When writing this blog post, the price is $0.004099. Expensive or cheap? The latter. Why? Last year in November, the price of $VRA hit an all-time high ($0.086), and you could have a decent profit. I believe that $VRA can hit $1, bringing the market capitalization to $10bn. At the moment, this is at the ranks of a market capitalization of Solana ($SOL), Dogecoin ($DOGE), and Polygon ($MATIC).
Can $VRA get even higher than $1? Well, the sky is the limit. Verasity will add even more uses cases for $VRA, and the token can get even more valuable. But I’m only focusing on what Verasity brings to the table: a solution to the real problem. The patented PoV can change the advertising industry and help advertisers save money. So why not: $VRA can be at $3 by 2026. Too optimistic? Maybe, but let’s talk again in 2026.
Verasity Partnerships
Some major companies have recognized the potential of Verasity and VeraViews.
First, there is Brightcove. With over 3,000 customers in over 70 countries worldwide, Brightcove delivers the world’s most reliable, scalable, and secure video technology solutions to media and enterprise organizations. And VeraViews provides the first third-party-developed ad-support plugin for the Brightcove web player.
Second, there is Amazon Ads. As of October of this year, VeraViews is an approved partner of Amazon Ads and is included in Amazon Ads Partner Directory. With Amazon Ads insights, reach, and premium entertainment properties from music to streaming, advertisers can connect with the right audiences in the right places, both on and off Amazon. Just recently, Amazon announced seven new advertising features. Everyone using Amazon Ads can now leverage the power of VeraViews and get video measurement, brand safety, advertising effectiveness, and reporting & analytics. Amazon Ads is the third largest advertising network generating over $30bn in advertising revenue.
Amazon Ads and Brightcove are big players that push VeraViews and Verasity forward in testing PoV and setting Verasity for commercial success.
Verasity Roadmap
When you look at the Verasity roadmap, you will see that Versity does not miss. Extensive partnerships and product rollouts confirm that the company is on the right track. For the 2023, Verasity’s plan is to onboard new ad partners and publishers for VeraViews. VeraViews is commercially ready and now it’s the time to continue business development. That also impacts the demand for VRA which is used within VeraViews adstack.
What’s interesting about Verasity is that partnerships are never on the roadmap. However, everyone loves good surprises. For example, one Twitter user found out about the Amazon Ads partnership when the official VeraViews Twitter account followed the Amazon Ads Twitter account. And then, a few days later, official confirmation came in—an exciting way to keep the Verasity community busy and active.
The entire community expects the listing of $VRA on Binance or Coinbase. US citizens cannot purchase VRA tokens; thus, everyone eagerly expects a listing on a major exchange. How soon will that happen? Nobody knows. However, once VRA is listed on Binance, the price of $VRA will skyrocket. VRA to the moon! I will definitely write a new Verasity review blog posts once this happens.
Where to buy $VRA?
You can purchase $VRA on KuCoin. If you don’t have a KuCoin account, you can easily create one here. KuCoin allows users to improve their practical experience through various trading and financial products for as low as $1. KuCoin is highly liquid, with over 200 coins available and present in over 400 markets. Founded in 2017, it offers beginner-friendly UX, bank-level security, buying crypto with a credit or debit card, and earning crypto by staking or lending.
Another option is gate.io, a leading cryptocurrency exchange with over 1400+ cryptocurrencies & stablecoins. You can create your gate.io account here. Gate.io has over 10 million registered users and is one of the safest and most reliable global cryptocurrency platforms. Due to its liquidity and trading volume, gate.io constantly ranks among the top 10 cryptocurrency exchanges. You can read about other apps where you can trade crypto on our blog.
Verasity Review – final verdict
Verasity has got a lot to offer and by reading this Verasity review blog post you could learn about Verasity and its products. Their product layers are diverse and thus offer versatility and real solution. It will be interesting to see how this project develops in the next few years and how VeraViews, VeraVerse, and VeraEsports will perform in the market. It will be exciting to see who the next partner is and how VeraViews is used.
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