Verasity
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Verasity

The 499Block and Bitribe AMA with Verasity Founder, RJ Mark

On 9 March 2021, Founder and CEO RJ Mark discussed the future of Verasity with Judy, a Partner from 499Block, the world’s first female blockchain community.

Q: Please briefly introduce Verasity (VRA). What is its core business logic?

A: Verasity’s mission is to significantly increase advertising revenues for video publishers — no matter on which video platform.

The Size of the Market & the Problem:

Digital advertising spend worldwide (outside of China) was $325B in 2019, fell off due to Covid in 2020 but is still on track to reach $389B in 2021. By 2024, advertising spend will be over $525B. This growth of 7–10% per year includes both desktop and mobile devices. Of this more than two thirds in 2020 — $147B to Google and $84B to Facebook — went to the two largest video platforms.

Yet, there are over 2 million non YouTube video publishers that rely on video ads for 66% of their revenues and their CPMs (Cost per thousand impressions) are less than $10/CPM or $.01 per view. So a publisher that shows 1 million views gets $10k. There are not a lot of video publishers that have millions of viewers per month so to monetize with ads is extremely difficult and as a result video publishers struggle to survive.

Not to mention 50M YouTube video content creators that receive a part of AdSense — If you earned an estimated $180 from 45,000 ad impressions, your ad RPM (revenue per thousand) would equal ($180 / 45,000) * 1000, or $4.00. Google made closer to $20 CPMs!.

Advertising spend in China is expected to reach 7.5B in 2021 and growing at 5.3% to $9.3B by 2025. Iqiyi, Youku, Bilibili, Xigua, Douyin and Tencent control most of the market in the same way YouTube and FB control the markets in the West.

Q: How does Verasity execute on its Mission?

Through its Platforms, Products & Technology:

VRA Rewards — Product Layer — Available

Proprietary Video Player — Product Layer — Q1

Proprietary Adstack — Product Layer — Q1

Proof of View (Patent Allowed 16/023,354) — Protocol Layer — ERC777 Beta Q1

Verasity is the only company in the world to have a patent granted for a blockchain protocol layer application.

VeraWallet — Product Layer Payment System

Q. Do you have any Use Cases?

Yes, we have the following:

Esportsfightclub.com — Esports Platform and Video Publisher owned by Verasity

This is Verasity’s most important use case because it combines all of the products into one Esports platform that Verasity owns, controls and can upgrade at will to achieve:

Adoption because of the growth of Esports to over 650M viewers

Scale because of the Platform, Esports adoption and Verasity marketing & Tournaments

Scale through Esports partnerships

Hybrid payment systems integration with PayPal, Stripe and VeraWallet

Integration of all Verasity products on one platform controlled by Verasity

Proof of monetization increase by utilizing ALL the Verasity products on one platform

Profitability for Verasity on this B2C Esports Fight Club video platform

Verasity.tv — Aggregator of Publishers owned by Verasity

Verasity.tv provided third party publishers with the ability to beta test Verasity Rewarded Video and to integrate the technology on their sites.

Verasity’s first Product Layer was VRA rewarded video released in May 2019 utilizing an SDK which can be used by any publisher with the following video players: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, VideoJS, Kaltura, FlowPlayer, iVideoSmart and others (90% of all video players in the West).

The proof of concept of rewarded video provided important metrics about interactive rewards and how they improve both engagement and ad monetization as well as meet the international standard necessary to integrate into the programmatic ad network ecosystem. Utilizing the Verasity video rewarded technology, most video publishers tested saw:

18% increase in videos watched

30% increase in total watch time

With the values persisting through the testing period

Q: So you have an esports platform as a use case for business to consumer. That suggests you have a B2B use case as well?

A: Yes, we have these B2B products to be rolled out:

SDK rewarded video add-on for any video platform — Available now

Proprietary Video Player — As a module for third parties in Q2

Proprietary ad stack ad-on for any video platform — As a module for third parties in Q2

Proof of View ad-on for any ad stack — As a module for third parties in Q4

In the second half of 2021, Verasity will set up a B2B sales force to license its technology to large third party video platforms that need to improve viewer engagement and ad monetization.

Based on our experience to date, rewarded video will increase publisher engagement and ad monetization by approximately 30% and Proof of View is estimated to increase CPMs five fold. So a video publisher today who receives $10 CPMs could get as much as $65 CPMs utilizing the Verasity tech. Verasity will charge a CPM license fee for the use of its technology which could be considerable given the problem that Verasity is solving for publishers.

Q: What is the economic model of VRA?

A:Verasity generates revenues:

Verasity makes money from its Esports platform through subscriptions, commissions on prize pools, video ad revenues and transaction fees using Verasity products. Just on the Esports platform esportsfightclub.com Verasity is already making money. At the last large Tournament over 8.6M viewers came to see the event online. A Revenues forecast for the B2B business will be published in the second half of 2021 and given the recent patent acceptance for Proof of View the revenues will be considerable. So the use case makes money and the roll out of the B2B business will make even more money at scale.

Q: Since 2017, there have been many streaming media projects combined with blockchain technology, but they went silent in the end. What is the reason? What caused it?

A: At present, most Internet applications form user barriers through network effects. For example, Twitter users will not choose other social platforms, and YouTube users are also unwilling to change to other platforms.

In our solution, we provide the tools and infrastructure for any video platform to utilize our products through an SDK or module on any video platform including YouTube, Vimeo, Twitch, iVideoSmart and 90% of the video platforms. We will be working with Tencent and others to integrate our SDK solution for rewarded video into any video player in the world. This way people do not have to change their viewing habits and publishers don’t have to change their workflows.

Q: People use a streaming media product based on the content provided by the product itself and the product itself, rather than blockchain-based digital asset rewards. Otherwise, it is turning the cart before the horse. What do you think of this opinion?

A:This is correct. You cannot change users habits or publishers work flows which is why Verasity provides a B2B solution that fits with any publisher so that users do not have to leave their platform, change their habits and the publisher does not have to change its workflow. This is the reason so many companies fail with video sharing platforms. We don’t compete with any of them. We provide the tools and infrastructure for third parties to provide our Rewarded video and other product. And we have our own stand-alone esportsfightclub.com platform as a use case to show third parties that it increases their revenues and engagement without changing their work flows or user experience.

Q: What core technology does Verasity use to prevent content publishers from fraud? And to prevent users from fraud in order to get rewards for publishing and viewing? As we know, some other projects had such cases before their deaths.

A:Verasity’s proprietary blockchain technology, Proof of View (PoV)™, ensures that videos (Content and Advertisements) viewed on the platform are real views that are verified by the community and recorded as immutable public records on the blockchain. Our patented technology (Patent Allowed 16/023,354) ensures that all views and associated audience metrics on Verasity are accurate, secure, real, and transparent. No more fake views, No more fraud!

Proof of View (PoV)™ unlocks the ability to derive the true value of content. Content is now surfaced based on its value to the audience.

All video views are assessed by our Proof of View (PoV)™ technology to ensure that they’re real and the video has been seen by a real person who is actually watching the content. You can read more on how PoV takes down fake views in our whitepaper. Once a view has been confirmed as legitimate it is then added to the Verasity Blockchain for 100% transparency.

By eliminating fake views, the Verasity ecosystem is able to fairly value content regardless of content type, audience demographic or a third party’s monetization strategy. For all our users, this means a better, fairer, and valuable platform. For Verasity it means substantially higher CPMs and monetization for its own platform and to sell the the PoV product to third for license fees. Proof of View is the ONLY Protocol Layer technology patented for the blockchain and Verasity is the owner of the patent.

Q: What are the profit models of Verasity? In the paid advertising part, how to attract advertisers to pay on Verasity?

A:Verasity now makes money from its Esports platform, esportsfightclub.com through subscriptions, commissions on prize pools, video ad revenues and transaction fees using Verasity products. By having high value esports tournaments (CSGO, Valoran, PUBG, LOL, etc.) that scale (in the last large tournament we had 8.6m viewers), ad networks and sponsors advertise for this valuable content with high CPMs. See our advertiser list of 17 of the largest advertising networks including Google and Facebook.

Q: What other core functions does Verasity have? Which user’s pain points are hit by these functions?

A:Platforms, Products & Technology include:

VRA Rewards — Product Layer — Available

Proprietary Video Player — Product Layer — Q1

Proprietary Adstack — Product Layer — Q1

Proof of View (Patent Allowed 16/023,354) — Protocol Layer — ERC777 Beta Q1

VeraWallet — Product Layer Payment System

Esports Platform:

Adoption because of the growth of Esports to over 650M viewers

Scale because of the Platform, Esports adoption and Verasity marketing & Tournaments

Scale through Esports partnerships

Hybrid payment systems integration with PayPal, Stripe and VeraWallet

Integration of all Verasity products on one platform controlled by Verasity

Proof of monetization increase by utilizing ALL the Verasity products on one platform

Profitability for Verasity on this B2C Esports Fight Club video platform

Users are not impacted because they can watch tournaments on their favorite platforms, so therefore no pain to the users. Your platform provides an automatic switch between video players so users can choose what they watch on any platform and still get rewards!

Q: What project development has Verasity completed so far? What are the next plans?

A:Verasity will have completed 90% of its roadmap in this Q1 which can be found at verasity.io For more details of what we’ve achieved and what we plan to deliver, see https://verasity.io/#roadmap

You can see the Tournaments list here:

So to summarize Verasity has built a number of products to improve publisher’s profitability by 5x utilizing Verasity’s Rewarded Product Layer, Proprietary Video Player, Proprietary ad stack, Proof of View Protocol layer which is patented and Verawallet.tv as a Product Layer Payment System.

Verasity has its own esports platform which it utilizes to test its products and achieve profitability. As products are tested and put into production they are rolled out as modules for third party publishers to utilize for a license fee paid to Verasity.

  • Ends

About Verasity

Protocol and Product Layer Platform for Esports and Video Entertainment

The Verasity Mission

Verasity’s mission is to significantly increase engagement and advertising revenues for video publishers on any video platform.

How? Through its PoV Protocol, Product Layers & Platforms

  • VRA Rewards — Product Layer
  • Proprietary Video Player — Product Layer
  • Proprietary Adstack — Product Layer
  • Proof of View (US Patent Office #10956931 System and Method for Proof of View via Blockchain) — Protocol Layer
  • PoV is the only Protocol Layer patented technology for the blockchain
  • VeraWallet — Product Layer Payment System

Use Cases

Esportsfightclub.com — Esports Platform and Video Publisher owned by Verasity

This is Verasity’s most important use case because it combines all of the products into one Esports platform that Verasity owns and controls. The Esports platform has scaled to 8.6m viewers for its tournaments.

Verasity.tv — Aggregator of Publishers

Available SDKs which can be used by any publisher for the following video players: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, VideoJS, Kaltura, FlowPlayer, iVideoSmart and others (90% of all video players in the West). This is now available for over 2 million video publishers struggling to survive on low advertising revenues.

Verasity Revenues

Verasity makes B2C revenues from its Esports Fight Club platform through subscriptions, commissions on prize pools, video ad revenues and transaction fees using Verasity products. Verasity will roll out its B2B products later in 2021 with attendant revenues. Verasity Roadmap

📖 Read our latest adoption metrics and one page overview

📈 Find where VRA (ticker) is trading on CoinMarketCap

VRA can be staked for 25.55% annual interest at https://verawallet.tv.

Follow Us:

Medium: https://medium.com/verasity
Twitter: https://twitter.com/verasitytech
Website: https://verasity.io
Telegram Token Discussion: https://t.me/Verasity_Official
Telegram Token Announcements: https://t.me/verasity
Verasity Gaming: https://t.me/verasity_gaming
Facebook: https://facebook.com/verasitytech
LinkedIn: https://www.linkedin.com/company/verasity
Reddit: https://www.reddit.com/r/verasity
Blockfolio Signals: Follow VRA to receive updates straight from the team

Join our local groups, we have support in the following languages

Chinese Chat 🇨🇳 — https://t.me/Verasity_CN
German chat 🇩🇪 — https://t.me/GermanVRACommunity
Dutch chat 🇳🇱 — https://t.me/verasityamsterdam
Brazilian chat 🇧🇷 — https://t.me/Verasity_BR
Indonesian chat 🇮🇩 — https://t.me/verasityindonesia
Japanese chat 🇯🇵 — https://t.me/verasityjapanese
Korean chat 🇰🇷 — https://t.me/Verasity_Korea
Persian chat 🇮🇷 — https://t.me/verasity_irn
Russian chat 🇷🇺 — https://t.me/VerasityRU
Spanish chat 🇪🇸 — https://t.me/verasity_spanish
Turkish chat 🇹🇷 — https://t.me/VerasityTR
Vietnamese chat 🇻🇳 — https://t.me/Verasity_Vietnam
Philippines chat 🇵🇭 — https://t.me/verasity_philippines
Indian chat 🇮🇳 — https://t.me/VerasityIndia
WeChat — PM @cryptomeo on Telegram

If you are a Game Developer or Video Publisher and want to grow your audience and revenue by 500% click the link to talk to the team

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Protocol and Product Layer Platform for Esports and Video Entertainment

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Verasity

Verasity

Rewards Based Platform for Esports Tournaments, Gaming & Video Entertainment

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