Verasity Q2 2023 Report

Published in

Verasity

10 min readJul 4, 2023

Already halfway through the year, it’s time for another quarterly update from the Verasity team as we reflect on our recent roadmap!

Before we get started, you may want to recap on Q1 2023 to see how we’ve evolved into Q2. A full roadmap deep-dive for Q1 can be found here.

In this article, we’re going to take a look back at the roadmap developments that defined Q2 2023. We’ll also discover the huge number of major milestones reached this quarter which are additional to our roadmap, and explore what they mean for Verasity going forward. Let’s start by reviewing our roadmap items for Q2, and how we’ve met and in our view exceeded them.

Q2 2023 Roadmap Items

1. VeraViews — Dynamically updated Ads.txt & Statistics Back-end

VeraViews has now added functionality that allows publishers to automatically and dynamically update their Ads.txt within our campaign management suite. This ensures that publishers are only accessing the best quality of adverts available to them as their campaigns run, massively increasing functionality for the VeraViews adstack. We also shipped the VeraViews Knowledge Base in early Q2, making it easier than ever for publishers to onboard to our ad stack.

Ads.txt is a simple, flexible and secure method for publishers to declare who is authorised to sell their inventory. It’s an IAB initiative that helps prevent counterfeit inventory and improve transparency in the programmatic advertising ecosystem. Ads.txt file is a plain-text file that is placed on the publisher’s website, and is easily accessible for ad exchanges, supply-side platforms, and other third-party companies to access and verify.

Ads.txt is important for video advertisers because it helps ensure that they are buying ads from legitimate networks and publishers. It provides a list of authorised digital sellers of inventory, which helps buyers avoid fraud and invalid traffic. Ads.txt also helps buyers to make sure that their ads are reaching their intended audience, as opposed to being redirected to a low-value website or app.

We’ve also enhanced the scalability of our statistics back-end for VeraViews users. This is quite simply an overview of all campaign statistics that are generated during an advertising campaign. An example of these statistics can be seen at https://verasity.io/veraviews.

2. VeraWallet — New UI design

VeraWallet’s branding has already been updated, not only to reflect our new brand positioning, but also to improve the user experience while transacting in VeraWallet. We are also pleased to reveal that we have completed the design phase of the new VeraWallet interfaces, including a new user interface and user experience, which will move into production towards the end of the year — as detailed in our roadmap.

You can see some of the updated interfaces, and get a sneak preview of how VeraWallet will look after our updates, in the images below.

3. VeraPay — Native payment app prototype

Verasity has been exploring the roll-out of a payments app, called VeraPay, focused on facilitating small to medium sized transactions for small businesses owners and individuals. The Verasity development team have prototyped this app, with screenshots shared above, to show how transactions would be facilitated between merchants and users. There would also be planned functionality for the VRA token during transactions and payment fees.

Later in the year, once VeraViews development priorities have been accounted for, we intend to do a deeper product-market fit analysis for VeraPay to evaluate where it could fit into the wider Verasity ecosystem — for example alongside VeraWallet, or the VeraCard.

4. Verasity.io — Website update

One of the most visible improvements we made during Q2 2023 was to our branding, website, and social media presence. We have totally overhauled the www.verasity.io corporate website to reflect our new position as a market-ready product with live clients, and lay-out a clear commercial vision.

Our brand refresh was the culmination of months of hard work, not just from a design perspective, but also as part of our brand strategy — delivering on our mandate of ensuring Verasity stands out among some 4,500+ cryptocurrency projects.

To appreciate our brand refresh and new website, we first have to explore Verasity’s history as a project. Launched in 2017, Verasity has been carefully building the components necessary for B2B adoption, while also navigating multiple crypto cycles. Our new site and brand image reflects our time in the market — over six years of trusted operation — while also reflecting a new era of adoption and commercial success for Verasity.

We believe that our website and brand image will now bring in new community members, and keep us well poised for future growth.

5. VeraViews — Cannes Lions 2023 Event

Cannes Lions is an annual international festival and awards event that celebrates creativity in the field of advertising, marketing, and communications. It takes place in Cannes, France, and is often referred to as the “Cannes Lions International Festival of Creativity.”

The festival brings together professionals and experts from the creative communications industry, including advertising agencies, marketers, media companies, technology firms, publishers, and more. The event provides a platform for industry leaders to showcase their innovative campaigns, share insights, and discuss trends and challenges in the field, and most importantly, do business and explore deals.

As the perfect way to begin the Cannes Lions experience, the VeraViews Kickoff Lunch at the Hotel Majestic took place on Monday afternoon right at the start of the Cannes Lions festivities, a warm welcome to the Rivera and a great way to break into the swing of the week and meet colleagues and friends. Directly opposite the main Cannes Lion building, and at the start of the world-famous Croisette, the Hotel Majestic is one of the most recognisable spots in Cannes, and a great location to kick off the week.

We were delighted to welcome representatives from highly esteemed publishers, brands, and agencies such as Nectar, Sovrn, Global, Alkimi, Azerion, Future, Warner Media, Gumgum, Lotame, Venatus, Sainsbury’s, Google, and many more to our lunch.

Not only was Cannes a major opportunity for business networking, meetings, and discovering potential partners, but it was also an incredibly important brand building exercise to put VeraViews on the radar of major brands and publishers. You can read the full Cannes Lions Recap here.

Other Milestones

1. Verasity becomes Verified by TAG

We’re pleased to reveal that Verasity has been accepted into the ‘Verified by TAG’ register, managed by the Trustworthy Accountability Group (TAG) — the leading global certification program for fighting criminal activity in advertising and increasing trust in the digital advertising industry.

The TAG Registry is the database of record for the entire TAG Community, letting potential partners know that companies have taken actionable steps to verify their identities and adopt rigorous standards to fight online fraud, piracy, malware, and lack of transparency.

The TAG Community includes more than 700 of the world’s largest and most influential brands, agencies, publishers, and ad tech providers. TAG’s proprietary background check — done in partnership with commercial analytics providers Dun & Bradstreet — ensures that each member of the TAG Community really and truly is who they say they are.

Each ‘Verified by TAG’ company is listed in the TAG Registry, which is leveraged by companies across the industry to determine trust and transparency in prospective partners. Many companies access the TAG Registry through API access to quickly screen and qualify partners.

This is a critical step in ensuring that Verasity, and more importantly VeraViews, demonstrates proven compliance and transparency in the advertising industry. As we onboard new clients and work with new partners, our inclusion in the TAG registry and the IAB Global Vendor List are essential for our reputation and growth.

Inclusion in the Verified by TAG registry provides other important benefits as well, including unlimited participation in TAG’s working groups, thought leadership and threat-sharing events, and regular briefings on developments in the industry’s fight against criminal activity, fraud, and malware threats targeting the digital advertising supply chain.

2. VRA Token Burns

This quarter, we burned 84,544,180 VRA tokens, adding to the 71,170,554 VRA tokens burned in Q1 2023, and bringing our new circulating supply to 10,200,751,960 VRA.

This brings our total VRA burned to 155,714,734 tokens to date, all within the first six months of 2023.

3. Q2 New Exchange Listings

Verasity has gained huge exposure through our marketing efforts during Q2 2023, and that’s resulted in a great deal of interest from exchanges to list VRA. Many of these exchanges are in jurisdictions that Verasity is actively looking to expand into, such as Europe, the Middle East, and India.

Some of the exchanges we listed on this quarter include:

As always, we continue to explore new exchange listings for VRA, especially those with direct fiat on-ramps.

4. Marketing & Community Achievements

In addition to delivering on our outlined roadmap items, we’ve also scaled to new highs on socials, a testament to the tremendous impact of our marketing efforts and the collective growth and enthusiasm of the Verasity community.

5. Socials Growth and Achievements

As we reflect on the past quarter, it has become clear that it has been an extraordinary period filled with remarkable growth. Our key Verasity socials have soared to new heights, smashing pivotal milestones across various platforms.

Twitter has played a significant role in our success story, as we reached a staggering following of over 300,000 supporters. The impact we have made on this platform is undeniable, with our key hashtags #Verasity and $VRA consistently trending platform-wide and capturing the attention of many through millions of tweets.

Not only that, but our influence extends to the CoinMarketCap community, where we amassed a dedicated following of over 189,000 users. We also maintained a consistent presence on LunarCrush, being featured more than 8 times.

Let’s take a closer look at some of our major socials achievements from Q2:

6. AMAs and Interviews

Throughout this quarter, we had the opportunity to attend an unprecedented 19 AMAs and interviews, setting a new record for our team. This concerted effort aligns with our overarching goal of expanding the reach and exposure of the Verasity ecosystem to new and diverse audiences. It is also a testament to our focus on transparency, communication, and open discussion with our valued community.

7. Community and Partner Events

In early April, we unveiled our deployment on Zealy, a Web3 community platform that enables us to involve and reward our dedicated supporters. As part of this launch, we organised a Sprint with a $1,000 VRA prize pool, which sparked an outpouring of high-quality community-generated content. Soon after, we expanded our presence to Link3, a Web3 platform that hosts all of our essential resources in one location, and we hosted a VRA trading competition in collaboration with KuCoin, offering 4 million VRA as rewards.

During that period, we participated in a networking event held at the Hong Kong Web3 Summit. This opportunity was made possible through the support of our partner, SeerLabs. Their invaluable expertise in East Asian localization and expansion strategies has been instrumental in our continued growth and success.

In the latter half of Q2, Verasity was showcased on Zealy’s Questboard, Planet Zealy, as the featured guest of the week. This significant exposure allowed Verasity to directly reach millions of users within the platform. And to celebrate surpassing 300,000 Twitter followers, we concluded the quarter with another Sprint, featuring a $600 VRA prize pool.

We will continue to pursue new horizons, with a particular focus on Web3 platforms, to ensure that we remain at the forefront of crypto marketing and community development.

Future Outlook

As a project, we are now in a position where our branding, communications, and team capabilities endeavor to match our technology readiness and business roadmap. In the remaining six months of 2023, we will be leveraging this new growth to continue to try to deliver on our commercial goals.

Once again, we thank all of the Verasity community for your continued support — let’s make 2023 the year of Verasity!

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