Verasity is a video-sharing platform that caters to content creators and rewards viewers with VERA tokens just for watching content, sharing videos, watching ads and for referrals. Over the past few years, brands have shifted their advertising model to allow influencers to share products with their audience. This gives products a much more personal touch and translates to better conversions.
Verasity will provide a way for viewers to help support their favorite channels by the use of VeraSparks. VeraSparks is a smart contract that allows viewers to buy and own a portion of a channel, and be rewarded with profits especially in future growth.
How is Verasity different than the competition in this field? Verasity is the only platform combining the following: Decentralized Proprietary Blockchain, Proof of View (PoV) — patent pending, Watch and Earn, Centralized Video Distribution, VeraSparks and the Spark Marketplace, and multiple ways for creators and users to earn VERA tokens. Just one of Veracity’s features, Proof of View (PoV), will help solve the problem of fake reviews that affect creators and advertisers.
Token
The VERA token is an ERC-20 token used as a payment method between brands and creators directly ensuring that brand placements are verified through Verasity’s Proof of View technology. Not only do brands now have direct access to content creators, but advertisers have the opportunity to reward viewers. Views are recorded on the blockchain so that validating viewer interaction is easily auditable. Proof of View is Verasity’s Patent Pending (*US and international patent pending, application number 62627285) system that provides more accurate audience metrics than traditional methods.
Team
The list of team members and advisers on their website is quite extensive compared to the majority of ICOs. The team and advisers are showing commitment to the project with team tokens locked for 18 months and advisor tokens locked for 9 months. A few team members include:
David Orman — CEO & Co-Founder
Founding Partner — Hatch-House
Founder — Namro Ventures Ltd
Advisor — Carabiner Partners
Formerly VP of Joost
David Rowe — Co-Founder
CEO — Black Green Capital
Founder — Hydro66
Founder — Easynet Group
Former Managing Board Member — Sky
Chris Gale — Co-Founder
Founder & CEO — Odyssey Mobile
Founder — TouchTab
Former CEO — Level Up Media Ltd
Crypto Investor & Blockchain Advisor
Adam Simmons — Co-Founder
Former VP Marketing — Level Up Media Ltd
Owner — Madals TV
Advisers include:
Dr. Christian Jaag — Advisor
Founder — Cryptoeconomics
Managing Partner — Swiss Economics
Lecturer — Universities of St. Galen and Zurich
Matt Heiman — Advisor
Founder — Diagonal View
Founder — Mobix Trading
Founding Investor — Just Giving
Adviser — Channel 4, Visimo, The Cloud, Palringo
Jin Young Choi — Verasity Ambassador for Asia
CEO — Bitbank
CEO — Woorim Holdings
CEO — East Nine Company Ltd
CEO — Vision Group Company Ltd
Permanent CEO — D!conomy LAB
Executive Commissioner of World Franchise Council
Former Mayor of Namon City
Joel Kovshoff — Advisor
Founder and CEO — MyICOPool
Founder and CEO — Athena Trading Bot
Blockchain Advisor and Educator
A complete list of team members and advisors can be found at verasity.io.
Verdict
Verasity will use blockchain technology to finally have a transparent and reliable solution to the many problems facing the video sharing industry. Some of the key features of Verasity’s blockchain technologies are: Verasity High-Performance Blockchain, VERA Transactions, Proof of View (patent pending) and DPoS. All of the videos run off of VeraPlayer, which is a blockchain enabled video player that allows users to view content securely from many mobile and desktop devices without the need to install additional software. Verasity has partnered with Akamai, a leading global content distribution network. This enables Verasity to deliver over 8 PetaBytes of video data per month, allowing them to scale quickly. If Verasity continues to deliver on the benchmarks outlined on their roadmap, they could quickly become a major player in this highly competitive field.
Risks
Although Verasity is unique with their own blockchain and PoV, it still has competition such as Steem, Basic Attention Token, Props, and Flixxo. -1.25
The hard cap is on the high side at 6,245,750,000 VRA which equates to over $46M USD. -1.5
Growth Potential
Verasity has a large and experienced team along with top-notch advisers that are capable of building and scaling the company successfully. +4
Having multiple ways to earn for creators and viewers has the potential to grow at a fast pace while their partnership with Akamai will allow for scalability. Basic Attention Token may use Verasity as its default video player. +3.5
Hype and community are important to create exposure for ICOs. Verasity has over 41k telegram members, 10k Twitter followers, and 237k Facebook followers. +2.5
Disposition
Blockchain platforms are in high demand right now. Verasity is no exception. With internet traffic being worth $312 billion by 2021, online video is set to account for 82% of all traffic. Company giants such as Facebook and Google generated $191 billion in advertising revenue in 2017. Personal data has become the new commodity and Verasity aims to reward creators and content publishers. Verasity is 100% SICOP compliant (Sustainable ICOs Protocol) which defines rules and methodology to determine whether ICOs are secure, follow good practices and ethical rules. Verasity is one of the few ICOs that is completely compliant. In an ICO atmosphere riddled with scams, this gives Verasity a head start. Due to the enormous potential as a successful first mover and the fact that they have followed very strict rules to be ethically compliant, Verasity receives a rating of 7.25 out of 10.
Investment Details
Symbol: VRA
Price: 1 VRA = 0.0075 USD increases by 1% per 24 hours during sale
MVP/Prototype: Available
Platform: Ethereum
Payments Accepted: ETH, BTC
Total Token Supply: 12,491,500,000
Hard Cap: 6,245,750,000 VRA
Min Purchase: 10,000 VRA
Restricted Areas: USA (Accredited only), Cayman Islands, North Korea, Somalia, Yemen
