Verasity Q1 2023 Report

Read our most detailed quarterly report to date!

Published in

Verasity

12 min readApr 6, 2023

You’ll need around 20 minutes to read this article.

It’s that time again Verasian community, we’ve come to the end of another explosive and news-packed quarter for Verasity!

As the first quarter of a new year, we know that expectations are high; so we are pleased to report that our roadmap progress during Q1 2023 has been on target — and exceeded our expectations.

This has undoubtedly been one of our busiest and most significant quarters to date. We have reached milestones that have shifted our commercial outlook towards adoption and growth, and we have set in motion mechanisms that fundamentally change Verasity and $VRA as a project and token — such as the introduction of deflationary tokenomics.

During Q1 2023, not only have we begun our quarterly burns, but we’ve also revealed the first users of the VeraViews adstack, shared VeraViews insights and figures through the first of our sand box case studies, and improved our commercial products. We’ve also rolled out new features, such as the VeraCard, and increased the number of channels and engagement strategies for our community.

Not only was Q1 2023 focused on commercial rollout, but it was also focused on renewal — taking our first steps towards an entirely new brand image and look that will culminate in new beginnings for Verasity.

In 2023, we will maintain our original vision and ethos of bringing trust and transparency to advertising and digital entertainment, but with a look and feel that positions us shoulder-to-shoulder with the latest projects in the space. This not only includes a new brand image and website, but we will also give greater emphasis to showcasing our transformative technology to the wider industry — such as our integration of Artificial Intelligence and Machine Learning in our adstack, and our patented Proof of View technology.

We have a lot to pack into this article, our longest and most detailed quarterly update to date. Let’s first explore our roadmap progress, before we discover all of the other milestones and news we’ve released during Q1 2023.

Roadmap Progress Q1 2023

1) VeraViews — Onboarding new ad partners and publishers

As the core of our business, onboarding new ad partners and publishers is one of our ongoing and continuous goals. This quarter, we have beta tested VeraViews running in a live environment through client features and sand box case studies. Let’s take a closer look at our commercial rollout.

In early February, Forbes featured VeraViews in an article that explored the top retail tech trends that looked set to dominate the advertising space in 2023. Among them, Verasity’s proprietary PoV technology, combined with our use of Artificial Intelligence (AI) and Machine Learning (ML), was identified as one of the top solutions for advertisers who wanted to reduce advertising budgets lost to fraud. In the article, it was revealed that Times of Israel had deployed VeraViews to help prevent invalid and bot traffic, and increase its video programmatic advertising revenue.

We are constantly seeking new commercial partnerships and onboarding new publishers. This is best evidenced by our rapidly expanding business development team, to which we added David Murray as Demand Director earlier in the quarter.

2) VeraViews — IVT detection algorithms improvement via machine learning

VeraViews utilises AI and ML in our adstack to enhance the effectiveness and efficiency of our advertising solutions. As explained in our deep-dive blog in March, once an ad impression is complete and we’ve stored the statistics, the data is fed to VeraViews’ machine learning module where a trained AI model processes the data and provides the detection result/rating which is stored with the ad impression record on our open-ledger.

We also help train AI models with the campaign data we receive — directly contributing to the training and improvement of future AI models for preventing advertising fraud. As a result, the improvement of IVT detection algorithms via machine learning is a continuous process — one which we’ve made huge strides on during Q1 using live campaign data. This milestone will be continuously improved upon as we scale.

You can read more about VeraViews’ IVT detection algorithms and extensive use of AI and ML in this deep-dive article.

3) VeraViews — Set up knowledge base for publishers

The VeraViews knowledge base is a centralised repository of information, guidelines, best practices, and troubleshooting tips for the VeraViews adstack and our suite of advertising tools.

It serves as a valuable resource for users to learn about the various components of VeraViews, understand how to use them effectively, and resolve any issues they may encounter. It’s an essential resource as we scale and add more publishers to the VeraViews ecosystem.

*Our Knowledge Base offers comprehensive user guides for VeraViews*

The VeraViews Knowledge Base contains simple user guides for first-time setup, account management, Ads.txt management, website management, and reporting & analytics. It also provides detailed guides for Brightcove publishers who wish to set up the VeraViews plugin.

The Knowledge Base is now accessible for Publishers using VeraViews. Once we have ensured it is comprehensive enough for enterprise users we will share the public link with our wider community.

4) VeraViews — New integration option available for non-Brightcove publishers

We are now actively working on an integration option for VeraViews that will enable publishers on any video platform to integrate the VeraViews adstack easily and quickly. This will take shape as a wrapper-tag solution. This approach simplifies the management, tracking, and optimization of video ads while streamlining the ad serving process in a video player environment on a publisher’s website.

In the context of a video player, wrapper tags are used in conjunction with video ad servers, video demand-side platforms (DSPs), and video supply-side platforms (SSPs) to serve video ads, enhance campaign performance, and maintain a good user experience.

This quarter it was not necessary to roll out a full wrapper-tag solution for VeraViews, as the publishers we are working with currently either utilise the Brightcove video player already, or they have migrated to the Brightcove player in order to leverage VeraViews’ superior ad fraud prevention technology.

5) VeraViews — User Management functionality for publishers for multiple admins

User management functionality refers to a set of features or tools within a product that allows administrators to manage and control access to the product (for example, assigning users ‘seats’), as well as the actions users can perform within it.

This is important for ensuring security, compliance, and efficiency within organisations or platforms. We now have partial user management functionality for VeraViews publishers, which enables multiple users to manage a campaign account — essential when one client may manage advertising campaigns across multiple web properties within VeraViews.

6) VeraViews — Website multilingual support

In early February, we localised the VeraViews website into 7 different languages, including Chinese, Korean, Spanish, French, German, Portuguese, and English. This is part of our corporate strategy to expand into new markets, as VeraViews as a solution is borderless — available to be deployed in any region by any suitable publisher.

Our support for new languages and localisation goes hand-in-hand with our patent awards in the USA, China, South Korea, Hong Kong, and Eurasia, where we will now seek new users for the VeraViews adstack.

7 & 8) VeraWallet — DAMEX app integration and VeraCard

The Verasity token, $VRA, will soon be available on the DAMEX app in preparation for the first rollout of the VeraCard! DAMEX is a payments platform that makes debit cards available to account holders.

Verasity will be one of the first altcoins listed on DAMEX, and the first token to have its own branded card. With the VeraCard, Verasity community members can now pay in stores and online using GBP in just a few taps, by loading $VRA into the DAMEX app.

VeraCard registrations are now open for UK residents. Learn more and sign up for the VeraCard waiting list here: https://verawallet.io/veracard

9) VeraPay — Native payment app for select countries proof of concept

With the successful adoption of VeraWallet and the rollout of VeraCard, Verasity is now investigating and developing a payments app that would further support utility for VRA.

VeraPay would be a mobile-first complete payments platform for businesses and individuals enabling easy and secure transactions. As we get closer to launch we will inform the community of progress.

10) Verasity — Crew3 Community Launch

Crew3 rollout is in progress, and we’re just putting the final touches on revealing our Crew3 community to you. Crew3 recently rebranded to Zealy, and we’ve been working closely with them to launch our community as soon as we can rebrand our Crew3 assets to match Zealy’s new product look!

We will soon provide more information on how to get started on Crew3, and start earning rewards, on our socials.

11) VRA Token Burns

Although not part of our roadmap, one of our most significant milestones during Q1 was the first of our token burns.

First announced on the 8th of February, we revealed that some 50 million VRA tokens had been burned. These tokens have been removed and you can view the transaction on Etherscan here.

Following this, on March 17th, we burned a further 20 million tokens bringing our total burn for the quarter to 70 million VRA.

If you’re looking for more information on burn mechanics and why burns are important, you can read our deep-dive blog here.

Other Milestones for Q1 2023

So, that’s the recap for our roadmap! But as our Verasian community will know, we frequently overdeliver during each quarter, and there’s a multitude of other major milestones that we’ve achieved during Q1 2023 that deserve a mention.

1) VeraViews Patents, Partners, and Integrations

In addition to the improvements for VeraViews included in our roadmap, we’ve also added the following integrations, partners, and patent awards to our Q1 progress:

Hoopla Digital Ad Network — Hoopla Digital works with leading brands to engage audiences through innovative advertising and inspiring digital creative. The established digital advertising platform specialises in branded solutions across online video, display and mobile. Hoopla Digital provides ads to VeraView’s partner publishers.
South Korean Patent Award — During Q1 2023 Verasity was officially awarded a South Korean patent for our Proof of View technology, enabling us to market VeraViews as a patent protected product in SouthKorea.
Oracle MOAT Integration — VeraViews now uses Oracle MOAT Analytics to ensure publishers on our platform have access to the most accurate campaign data. Oracle MOAT Analytics is a comprehensive measurement and verification platform for advertisers and publishers, enabling them to evaluate the effectiveness and visibility of their digital ad campaigns by providing insights on viewability, attention metrics, and fraud protection across multiple channels and devices. VeraViews now includes this functionality as standard.

2) Exchange Listings & Integrations

During Q1 2023 we also saw significant growth in the number of exchanges and services looking to list or integrate VRA. Our social power was reflected in the organic listing of VRA on several exchanges.

In total during Q1, VRA was listed on 7 exchanges, including a top 10 Tier-1 exchange, Bybit, and also integrated into one wallet, highlighting our commitment to expanding our reach in the market and ensuring accessibility and liquidity of our ecosystem’s native token.

3) Community & Partner Events

During this period, we offered a wide range of rewards and incentives through community competitions, trading competitions, and other initiatives, in collaboration with our partners, providing ample opportunities for both new and veteran members alike to get involved and dip their toes into our ecosystem.

4) Socials Achievements

As in previous quarters, Verasity maintained an impressive presence on socials this quarter, regularly maintaining a position in the top 50 of all altcoins (out of over 4,300+ projects) and remaining in the top 100 for the entirety of this quarter. This is a seriously impressive achievement given our market cap rank, and a true testament to our powerful community.

Similarly we maintained a continuously strong position on the LunarCrush trending chart, while also outpacing large-cap altcoins on major platforms such as CoinMarketCap and CoinGecko, as evidenced by our regular trending status.

We look forward to continuing this momentum and achieving even greater success in the following quarters and beyond.

Let’s explore some of our social achievements during Q1 2023:

5) Socials Overhaul

Throughout this quarter, we placed great emphasis on enhancing our social media offerings. This included a comprehensive revamp of our highly ranked Reddit community, which now ranks in the top 5%.

Additionally, we launched a new YouTube channel that serves as a central hub for AMAs, guides, and other valuable content, making it easier than ever to stay in the loop on all the latest happenings in our ecosystem.

6) Resources Expansion

Our user resources, such as guides and news aggregators, serve as vital educational materials to help our community better share and engage with our announcements.

During this quarter, we published a series of informative blog posts highlighting the importance of recent milestones. Additionally, we collaborated with Alphaday to launch a comprehensive dashboard that aggregates our entire ecosystem in one convenient location.

The Road Ahead

We’re pushing full speed into 2023, and it’s already shaping up to be one of our most significant years for commercial adoption and product development.

As we embark on Q2, improvement of VeraViews as an advertising stack and ecosystem will continue, we will push ahead with business development goals, and continue building our team.

Likewise, we’ll also be revealing a fully-refreshed brand look — complete with a new Verasity.io website — and rolling out improvements to our community-facing products such as VeraWallet. This will bring Verasity up to date with other projects in the crypto ecosystem, and help us maximise our already huge impact on social media to onboard new users.

Once again we would like to thank all our Verasity community for your support as we continue to grow, and we hope you all have a fantastic Easter break!

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