The future of online video space with Verasity
Verasity is pioneering the development of next-generation video player technology. This infrastructure will provide Broadcasters, Creators, and Publishers with new and effective monetization platforms while improving the online video viewing experience.
There are many existing challenges that online video space faces today. Currently, there is a barrier between viewers, publishers, and advertisers with unrewarding exchanges between participants. It seems that media platforms have failed to effectively balance the conflicting interests of their users.
Aside from that, with the recent demonetization tendencies on YouTube, publishers are struggling to monetize. With the widespread use of advanced ad-block technology, audiences are increasingly blocking advertisements while intermediaries claim larger shares of revenue.
Regarding the viewers, they have very few opportunities to benefit from watching videos at all, mostly because viewers are not taking part in the monetization process.
Facebook, Instagram, and YouTube force users to watch ads to generate revenues for the platform, but there are issues regarding trust and transparency between the platform and users. These emerged as a result of previous difficulties with personal data storage as well as the fact that it was distributed to advertisers without any notification.
The technology behind the solution
The technology behind Verasity features an end-to-end suite of products and systems that provide Broadcasters, Publishers, Content Creators, Marketers, Advertisers and Consumers with the tools needed to access, engage, and thrive. HTML5, a full HD video player that is available on a variety of modern mobile and desktop browsers supported by their fully functional online video platform.
The VRA token will perform as a unit of exchange and rewards for video creation, sharing and viewing across communities. Verasity platform viewers will be engaged in the monetization process as well — anyone watching or sharing videos or advertisements will be able to earn VRA currency. The platform will give content Creators and Publishers a chance to independently choose their own monetization method.
To ensure transparency and integrity for the whole video distribution economy, Verasity is developing a proprietary “Proof of View” technology. Every video view will be securely tracked and stored on the Blockchain. This provides the security, flexibility, and scale to support a flourishing new environment for Content Publishers, Advertisers and Viewers.
Benefits for VRA holders
Users will be able to send popular cryptocurrencies such as Bitcoin and Ethereum to VeraPay and exchange it for VRA.
Viewers can use VRA to pay for subscriptions, pay-per-view services and tipping their favorite content creators. Creators holding VRA will be able to reward users and build a loyal audience community which they can subsequently monetize through ads or subscriptions. Advertisers can benefit by rewarding the viewers for watching their ads and learning about their product.
Also, Verasity plans to assign daily rewards to VRA holders who store VRA on their wallets even for short term, however, the longer VRA is stored on the wallet — the bigger reward will be received.
Verasity is changing the online video experience for the better on behalf of all groups involved with their well-oiled machine. This will help truly democratize the process and incentivize viewers to get more involved through a more effective means of rewards distribution.
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