As we stride ahead into Q4, let’s pause to take a look at what we have accomplished this Q3 and our plans for our progress moving forward.
Q3 2020 Achievements
Esports Fight Club product completions that are now in production included:
- Fiat subscriptions/entry fees for Esports Fight Club
- Custom headers/logos
- Site localizations
- Mobile version of Esports Fight Club
- Time is displayed in the local time zone for each user
- Tournament admin self editing rights
- Display showing number of slots/players for each team
- Tournament screen customization
- Games added: PUBG, PUBG Mobile and Valorant
This is far more than we initially forecasted and puts us ahead of schedule on the full upgrade of the Esports Fight Club Tournament site. The plan now is to continue with these product upgrades as we develop a new site layout to be rolled out early next year. We will announce regular updates of this exciting news as we get closer to production.
Plans for Q4 2020
Esports Fight Club Platform Chat
we have already implemented the chat facility, so you can start chatting on the platform right away:
- Global chat for everyone
- Tournament chats for participants
To access the chat facility, please sign into the platform. Global chat is for everyone, whereas tournament chats are private chats between players signed into a tournament (to make notifications easier and make sure start times are adhered to).
Proprietary Video Player
So far we have been utilizing the YouTube video player for the broadcasting of our tournaments. We will be switching instead to our own Verasity Video Player that will allow us to combine our proprietary ad stack integrated with our ad network partners. This means Verasity will monetize ads on Esports Fight Club as well as provide rewards in $VRA.
- Global chat for everyone
- Tournament chats for participants
- Credit card payments on Esports Fight Club
- Additional Esports games
- Frictionless tournament joining process
- User defined teams
- Players check-in for the tournament
- Expand gaming partnerships beyond Tencent, Riot & Blizzard
- Expand current game partnerships in additional territories
- Micro & Major Esports Tournaments
- Expand Esports & Crypto marketing world wide
- Add additional Exchange
Credit Card Payment System within Esports Fight Club
We have signed with a major credit card payment system which will be integrated into Esports Fight Club together with VeraWallet and PayPal. This will provide us with credit card access in over 160 countries for subscriptions and tournament jackpots. This will be announced once integrated.
Marketplace for Gamers
We will start adding a marketplace for gamers with a limited selection of products initially but growing into a significant marketplace over time.
More esports titles will be added as well. New tournament updates will be announced separately.
VRA Use Case in Esports Streaming, VOD, Esports Fight Club & Publishers
Another addition will be automated VOD recordings of our tournaments which should be available later in the year. VRA rewarded VOD will be available as well. You will be able to get to esports VODs either via Esports Fight Club or Verasity.tv’s Watch&Earn. In this instance Verasity and Esports Fight Club are the publishers earning ad revenue from VOD as well as live streaming. Esports Fight Club owns this content, so instead of only obtaining third party publisher content, Verasity now owns very valuable esports content from the last two tournaments, which it will exploit directly. As Esports Fight Club continues to put on tournaments, its content will increase and be available as VOD to monetize with ads & PoV.
Verasity’s proprietary video player provides VRA rewards and high engagement for our ad network to advertise on. This, with Proof of View, will be monetized by ad revenues (for more about PoV, read below). In-game advertising will also capitalize on this considerably.
VeraWallet is now a payment system inside of Esports Fight Club, which means users can subscribe to tournaments as well as pay for jackpot participations with VRA. Within VeraWallet, our 72k users (and growing) can purchase VRA via credit cards and PayPal.
At the same time, Verasity will continue to sign up third party publishers that want to utilize the advantages of utilizing the Verasity VeraWallet rewarded video system. Third party publishers can continue to integrate the Verasity SDK with YouTube, Twitch, Vimeo and others.
Currently Verasity has four full time marketing personnel in-house and we have just hired a fifth, who we will announce soon. Check out verasity.io for more information about our personnel. We also use Tokensuite for external marketing and have 16 admins and 18 moderators across our 10 chat groups in 10 languages.
As the stats below suggest, it shows our marketing is having an impact. Our Social & Adoption metrics have increased 154% in less than a year.
- Over 20 Twitter influencers
- More than 150k Twitter view impressions in the last month
- Youtubers with 60k views in the same period
- 20 press releases in 8 languages
- We just completed a major esports tournament with 8.6m video views
- Over 800 teams competed producing over 37 hours of streamed video on Facebook, Douyu, Warmania and Athena Broadcasting
- This produced 2,886 Esports Fight Club platform registrations
- 2,128,846 page views on Esports Fight Club
- TikTok campaign that reached over 6 million viewers
- VeraWallet registrations have increased to 72,000 users
To find out more you can watch hundreds of rewarded videos about Verasity on YouTube
Since the KuCoin hack and OKEx situation we have been asked daily about the exchange situation. This is an issue for the entire crypto industry and not just Verasity. Binance was also hacked previously, but came back stronger. We expect the same from KuCoin as they put in security measures to prevent future hacking. A hacked exchange that survives is actually more secure than a non-hacked exchange because they dealt with their vulnerabilities.
The community requested the following exchanges over the last six months: Bittrex, OKEx, KuCoin, Bitmax & Bitmart. We delivered on all of these exchanges but had to pause OKEx because their CEO & Founder is ‘cooperating’ with the local authorities and OKEx stopped withdrawals.
We are currently negotiating with a dozen exchanges but make no promises as to timing given that crypto exchanges are so vulnerable to hackers as well as regulatory risks (OKEx & BitMEX). Verasity cannot predict which exchanges will have issues as we don’t control exchanges.
Plans for Q1 2021
- Streaming features with the Verasity Adstack
- VeraWallet mobile apps
- Notifications for VeraWallet
- Players statistics
- Esports Fight Club players matching
- VOD Recordings
- In-game advertising with our gaming partnerships
- Whitelabel solution for tournaments
Upgrades to VeraWallet include notifications within the app as well as a mobile version for Android and iOS.
Esports Fight Club will expand its features to include player matching, so players can join others at similar levels.
As we did with #UWS, we will add a white-label solution for new tournament landing pages that will be automated. This will allow for multiple tournaments simultaneously.
Proof of View (PoV) & Q2’2021
- Proof of View enabled smart contract
- View verification (on-chain) Proof of View
- The ability for single players to find same level matches/tournaments
When we initially announced Proof of View (PoV) we had no alternative but to create a Mainnet for PoV. Fortunately, the Ethereum Chain has evolved with solutions that now allow us to use a smart contract on the Ethereum Chain. Better still, this solution will work for transactions as well as the ad stack and PoV. The biggest problem with a Mainnet is adoption. Third-party ad network vendors are less likely to adopt an unknown Mainnet for a PoV solution vs. a tried and true smart contract solution. A smart contract solution is verifiable and auditable. This is a huge benefit for PoV and will allow Verasity to more quickly implement and scale the solution with our ad partners. We will notify the community about the solution as we get closer to the beta stage. On the question of ETH fees, we will stack information from multiple views in a single transaction greatly reducing operating costs.
By adding the proprietary Ad Stack to our Verasity Video Player, we will monetize the video views with video ads. Traditional ad monetization for the 8.6m video views we achieved for the #UWS PUBG tournament could have produced revenues of approximately $43,000 based on $5 CPMs for a typical esports event depending on the geos (more for NA and EU, less for Asia & not including sponsorships). Once PoV is in production, the CPMs paid by brands can increase 5–10x ($50-$100 CPMs) because the views are real and quantifiable on the blockchain. So instead of $43k this tournament could have contributed revenues of $200k — $400k if we secured the same amount of viewers on the Verasity Video Player! This will be a major contributing factor to monetization and growth, although we know it will take time to see similar viewership figures on our own video player.
REWARDS BASED PLATFORM FOR ESPORTS, GAMING AND VIDEO ENTERTAINMENT
Verasity provides proprietary technology uniquely rewarding gamers, viewers and publishers. Verasity is a crypto-based platform with the VRA token that aims to revolutionise the online advertising business. With its innovative Proof of View system, advertisers are able to guarantee their video ads are seen and not ignored thanks to smart contracts on the Ethereum chain, while viewers are able to earn VRA simply by watching the content they already consume. Verasity has a focus on gaming publishers and esports.
- The first platform to provide user-generated esports and prize pool tournaments supported by both Fiat & Digital Tokens.
- Video gaming content monetized by Verasity Ad Stack and Proof of View (PoV)
- Enables tokenized rewards (VRA) as well as loyalty schemes within the video player VeraWallet
- Supports over 2 million video publishers with our SDK products (overlay on video players) to increase engagement and revenues by 35%. See example publishers and videos here.
Verasity revenue streams include:
ame subscriptions, prize pool commissions and video ad revenues. Read about the tokenomics, forecast, buy back and burn here.
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VRA can be staked for 36.5% annual interest at https://verawallet.tv.
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