Verasity (VRA) Burns 10bn Warchest Following Landmark Community Consultation
London, Oct 2, 2023 — Verasity, ticker symbol $VRA, has burned its 10bn warchest today following one of the largest community consultations in crypto history — with further plans to move 90 billion tokens, currently reserved for data circulation, to a new blockchain.
Open to over 500,000 community members and token holders, Verasity’s community consultation marks an inflection point for the project, which has transformed its position in the market through a strong focus on commercial adoption and better community communications.
Following the consultation, the decision was taken to burn 10 billion $VRA tokens, originally minted as part of a strategic reserve wallet held for future business use.
Verasity no longer required the 10 billion strategic reserve tokens following the commercial launch of its anti-bot advertising technology offering, powered by its patented blockchain technology, ‘Proof of View’. The company announced at the beginning of the year that its solution was already in beta and in use, with business development continuing throughout 2023. Verasity can now expand operations.
Today’s 10 billion burn represents a significant token burn, demonstrating Verasity’s new focus on a community-led strategy. The Verasity team has also stated that it is actively looking for alternative blockchains to move 90 billion ‘Proof of View’ tokens (which are essentially the same as VRA tokens and have led to significant adverse tokencomics impact), but which lagely facilitate data transfer for its advertising stack and other activities.
RJ Mark, CEO and Founder of Verasity, says:
“Our commercial rollout is bringing greater utility to $VRA through its primary use as a payments option for VeraViews campaigns. Now, our community consultation and subsequent burn of our strategic reserve tokens proves that we’re also listening to our community and improving our crypto ecosystem. This is part of our growth strategy for 2024, where we expect demand for our advertising solutions, and we’re now laying the foundation for that growth.”
Verasity consistently outperforms many other altcoins across social impact, engagement, and social volume — achieving top spot on LunarCrush’s AltRank several times during 2023 out of some 4,400 tokens. Its roadmap, and plans for future growth, can be found here: https://verasity.io/roadmap.
https://verasity.io/token-disclaimer
https://verasity.io/terms-and-conditions
About Verasity — Verasity is an open-ledger ecosystem designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content. With product verticals in the advertising and video player industries, Verasity ties together its ecosystem with its patented ‘Proof of View’ blockchain-based technology. The $VRA token, which is used for funding advertising campaigns, staking through VeraWallet, and distributing Watch & Earn rewards, is central to the Verasity ecosystem as a single utility token with a whole host of applications. Verasity’s roadmap for 2023 includes the launch of the VeraCard to complement its VeraWallet offering and provide new utility for the $VRA token. Learn more at www.verasity.io.
