How Verasity’s RVP will revolutionize the online video economy
Online video is the fastest growing medium. It is set to account for 84% of all consumer Internet traffic by 2020. Yet the online video business model and digital advertising world is fundamentally challenged. With so much of the content that gets produced in the world uploaded online to various video sharing platforms, it has lead to an a significant shift in the audience size for digital entertainment. However, under current advertising models, companies like Facebook and Google stand out as the winners generating $191.8 billion of net advertising revenue between them in 2017, roughly 90% of all digital advertising*, by controlling the distribution of content and the sale of advertising. Who really gets the bad end of the stick in this deal? All the people who help make them their billions — the publishers and the viewers.
The problem today
To see where the problem lies; we have to understand that publishers and advertisers treat the audience’s attention as a currency, the more attention they receive from the audience, the more successful they are. Most people would agree that if the viewers are seen as the real money to these companies, surely they would be rewarded fairly too? You will be correct in thinking this is the not the case.
Alongside the fact that viewers are simply treated as a commodity, advertisers themselves are wasting billions of dollars as seen with the rise of ‘ad-block’ technology. Viewers use this technology as they do not see a benefit from giving their attention to the adverts. Publishers with strong, loyal audiences are exploring new platforms to sell subscriptions and pay-per-view access to their content, where users are happy to pay for an ad free experience, which is often an expensive route for all.
Verasity Provides the Solution
Verasity’s patent pending rewarded video player allows publishers and advertisers to reward viewers with VRA for giving their attention to content and advertisement. This creates an attention based economy and strengthens the relationship between the Advertiser, publisher and viewer This gives more incentives to viewers, control to publishers and engagement for advertisers.
As Verasity uses VRA to both reward and monetize content, intermediaries are removed from the value exchange. These intermediaries currently swallow up to 70% of the value.
Our patent pending Rewards-as-a-Service (RaaS) Player enables a full HD viewing that is run on HTML5, the wallet built into our player enables users to be rewarded with VRA, customisable monetization options and publishers can even run loyalty schemes through Verasity. VRA enables publishers to control rewards, monetization and loyalty schemes all within the player wallet. More details follow below.
Highest Quality Video Delivery
Verasity’s HTML5, full HD and patent pending Rewarded Video Player technology has been built to handle vast scale of global audiences at the highest quality and on all the different viewing devices. By partnering with the world’s leading CDN, Akamai, we have the highest service level agreements enabling video experience to be on par with the largest technology platforms.
Proof of View
Verasity’s proprietary blockchain technology, Proof-of-View (PoV™), ensures that all videos and advertisements viewed on the platform are seen by real people. Our technology analyses over 14 different interactions to ensure Verasity’s audience metrics are accurate, secure, real, and then made fully transparent on the blockchain.
What benefits does this provide? For Advertisers, the Proof of View system we have developed ensures that they are not wasting any money when it comes to paying out rewards to viewers who have given their attention to watch the advert. Knowing that the full advert is being seen is a huge benefit to advertisers.
Built in Wallet
One of the major innovations within the VeraPlayer™ is having your VeraWallet built directly into the player interface. This allows viewers to receive VRA rewards, manage donations, pay-to-view content and subscriptions from the VeraPlayer™ directly. Having this direct option on how you want to support Publishers is much more beneficial and organic for both the viewer and for the Publisher.
Having VeraWallet built into the player also means users can easily track incoming VERA rewards from watching content and advertisements from a video player that has embedded Verasity technology. This shift means advertising is no longer an intermediary between viewers and creators.
By using Verasity technology, Viewers get paid for their attention, advertisers know they’re reaching people who want to watch adverts, and Publishers have more options available to them meaning new types of content will flourish.
Easy Integration
Something that we have been working on at Verasity is enabling the easy integration of our video player across the internet. We have very recently just successfully integrated our video player with JWPlayer, the third largest video player in the world with over 150,000 publishers, 120 million users and 25 billion monthly views. To read more about this, check out our latest article:
One of our key goals is to get more publishers on board to use our video player, so we have putting effort into making this integration as seamless as possible.
We are actively working on more integrations that will be announced soon. These additional integrations will allow Verasity to easily reach even more of the massive online video market.
If you do want to find out more information about Verasity, Linked below are the original documentation and the new amendments to the original roadmap, and whitepaper and economics paper.
About Verasity
Verasity is a leading video platform providing unique Rewarded Player Technology to major publishers across the globe.
Our patent pending Rewards-as-a-Service (RaaS) Player enables VRA rewards, monetization and loyalty schemes within the player wallet. Our player technology is already available to 280,000 publishers with 240 million users and 50 billion monthly views. This brings engagement, audiences and revenues back to publisher sites. Our attention-based model creates a thriving VRA token economy between viewers, publishers and advertisers.
Verasity is the future of online video — Reach, Reward, Retain.
Reference
*https://www.recode.net/2017/12/4/16733460/2017-digital-ad-spend-advertising-beat-tv
