Update On Verasity Gaming Model & Tokenomics
While ad revenues around the world have dropped, the popularity of online games has boomed. Esports Fight Club and GameStore, our incentive based gaming platforms, are launched and will take advantage of this market by creating substantial revenues which we believe will increase the value of VRA rapidly.
The Opportunity
In the wake of COVID-19, it has become necessary to shift our focus to accommodate the changing demands in today’s consumer behavior. With the cancellation of activities such as travel, sporting events, eating out and almost all outdoor activities and with employees being encouraged to work from home, consumers are spending more time than ever using online services. And as we all know unemployment has exploded.
In the USA alone over 22 million jobs have been lost.
As reported by Sarah Hansen at Forbes.com, there could be 47 million people let go which would lead to an unemployment rate of 32.1%, higher than the Great Depression’s worst rate of 24.9%. We are already near the halfway point with this coming week’s unemployment claims. And this is only the USA — The EU and UK are seeing similar figures.
As a result, the programmatic ad market has tumbled due to brands no longer seeing demand for their products (who can afford to buy stuff when they are unemployed?). The travel sector, retail and events being the worst hit. This is affecting publishers worldwide who can no longer secure brands to spend on ads. Facebook and Google lose over 44B in Ad Revenue in 2020 because of Coronavirus.
How Verasity Has Adapted Its Model
People’s daily habits have changed and as a result, media consumption has altered. Whilst we suffer a downturn in sports, cinema and concerts; we have an upsurge in people watching the news, streaming films and participating in online gaming. Even the World Health Organization (WHO) has said that video games could help fight coronavirus spread.
Before this pandemic, Verasity proposed and implemented the GameStore with the vision to advance the potential of ad revenues and expand the wider use of VRA. It has been a fortuitous outcome and now our model is focused on the GameStore, as we wait out the wider issue of ads and publishers until the environment improves. Of course, after the environment improves, we will increase resources spent on publishers and ad revenues, but until that happens, we are aggressively working on the expansion of gaming and have also launched Esports Fight Club.
Wikipedia provides stats on the impact of video gaming
Because much of the world was asked to stay home to help limit the spread of the coronavirus, video game playing and other Internet use grew greatly from March 2020. Steam, the main digital storefront for personal computer video games saw over 23 million concurrent players during March 2020, surpassing all previous records[62] while the streaming service, Twitch saw over 3 billion hours of content watched over the first quarter of 2020, a 20% increase from the previous year’s.[63] GeForce Now capacity was temporarily exhausted in Europe before additional server capacity was added.[64]
The additional bandwidth from video games and other Internet services created concerns that critical bandwidth would not be available for medical and other key infrastructure elements necessary to mitigate the coronavirus.[65] To help reduce demand during peak hours, the Akamai content delivery network for many video games[66] and major digital storefronts such as Xbox Live,[67] PlayStation Network[68][69] and Steam[70] capped download speeds and encouraged the users to download at off-peak hours.
Esports Fight Club and GameStore, as we anticipated, have done well in their betas and are being updated to scale in Q3 & Q4. Keep in mind that the Esports Fight Club and GameStore are not reliant on Google or FB or any third party and we can, therefore, monetize gaming activities unlike mobile apps on Android or IOS which are not allowed to provide real-world rewards. This gives Verasity Gaming a unique opportunity at a time when people are at home and striving to earn some extra income by winning tournaments and jackpots.
How Verasity Plans to Scale Esports & Gaming
- Expand marketing into non-crypto gamers by adding PayPal and credit cards for subscription and Jackpots (PayPal is added)
- World Class Tier 1 Tournaments for Exchanges to attract Esports players and fans watching live streams (Our first CS:GO event has taken place successfully)
- Social media of Pros (proven effective in our first world class Tournament)
- Major brands
- Broadcasters streaming the live Tournaments outside of Esports Fight Club site
- Twitch and YouTube influencers in crypto and non crypto
- Social media, TG, Discord, DApp websites, Crypto publications
- Target comms in our 11 international communities
- SEO for social media platforms
- Email marketing
Gaming Revenues
Esports Fight Club & GameStore requires players to use VRA to purchase subscriptions and game credits whilst they receive VRA for winning tournaments. Soon players will also be rewarded VRA for playing games and watching ads. Verasity profits from the purchase of game credits, subscriptions, tournament jackpots and ads. This is an entire ecosystem all within Verasity gaming.
We are nimble, adaptable and confident that we will flourish in this new environment.
Tokenomics Update
To reiterate points that are often asked about VRA:
- Total supply is fixed. There is no mint function.
- Founders tokens have been locked since inception and will continue to be locked until such time as VRA reaches a certain price point which is a substantial multiple of the current price. The anticipated lock period was 4 years but this may extend beyond 4 years if the price level is not reached. We will not publicize the price level because our legal considers this price manipulation to disclose it.
- To pay for CEX listings, Verasity has so far managed to pay from Verasity reserves but may resort to the sale of Foundation Reserve tokens if required.
As our community and investors know, Verasity is committed to creating and promoting a new economy where transactions are powered by VRA for the benefit of creators, gamers, viewers, advertisers and brands. We’ve already built the infrastructure for publishers to serve attention-rewarded video to billions of viewers and have since launched the Verasity Gaming. Verasity is riding the wave of a booming gaming industry in response to an uncertain world but will also exploit the publisher ad model as soon as the world gets back to normal.
REWARDS BASED PLATFORM FOR ESPORTS, GAMING AND VIDEO ENTERTAINMENT
Verasity is a leading company providing proprietary technology, uniquely rewarding gamers, viewers and publishers.
- The first platform to provide user-generated esports and casual gaming jackpot 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:
Game subscriptions, jackpot revenue rake, betting revenue rake and video ad revenues. Read about the tokenomics, forecast, buy back and burn here.
📖 Read our latest adoption metrics and one page overview
📈 Find where VRA (ticker) is trading on CoinMarketCap
VRA can be staked for 36.5% annual interest at https://verawallet.tv.
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