Verasity X ICO Pantera Group AMA

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Verasity

10 min readDec 3, 2019

Greetings Verasians! We recently co-hosted an amazing AMA with ICO Pantera Group today (Tuesday December 3rd 2019 at 20:30 KST). They run the number 1 crypto review channel in South Korea with a huge following and influence. ICO Pantera Group also specialises in analyzing projects with an objective eye, creating professional reviews to help investors make accurate decisions. You will be seeing a higher presence of Verasity in Asia now as we branch out and spread the word of $VRA.

Onto the AMA! ICO Pantera interviews Verasity

We started Verasity in 2017 with a mission to solve the online video market and improve the user experience while helping publishers and creators survive against Companies like Facebook and Google. We have a working technology for the majority of publishers in the world, a wallet — VeraWallet in the Korean language, an app called Triviata, revenues and users and growing fast.

ICO Pantera

Great stuff! Let’s start the AMA.

Verasity knows that it is building a next-generation online video platform using blockchain.

Overcomes shortcomings of existing centralized platforms through blockchain.

Existing video platforms have problems such as false views and opaque distribution of profits.

How will Verasity solve its existing video platform problem?

Answer

We are not building a video sharing platform. Verasity provides the tools and infrastructure for publishers to monetize and reward. We are building a layer on top of other video players like Twitch, YouTube, etc. Video sharing platforms cannot compete because they try to change the workflows of publishers and the habits of viewers. They simply have not been successful when competing with YouTube. Take the example of PewdiePie who left to Dlive with only .25% of his fans🙏

We have an SDK that integrates into all the major third-party video players. We have 15 desktop publishers and one mobile publisher now and many more coming on to use our SDK and users are rewarded VRA for watching great content across the web. New announcements for mass adoption will be made shortly.

Twitch or YouTube has a cash payment system. If you pay compensation through coin, isn’t there more cost as an interim fee? The fees for each medium are as low as 10%.

Answer

We are not paying compensation to the publisher with VRA. We are paying the publisher compensation with cash as a revenue share of the advertising. The VRA is only used to incentivize viewers for watching content and ads without ad blocker. Also, it is worth mentioning that our VeraWallet technology reduces the transaction fees so the interim fee is low.

I know Verasity has released a Triviata mobile game. I want to know in detail how Verasity and Triviata interact with each other.

Answer

Verasity is acting as the publisher of the mobile game: Triviata. We developed and scale our own mobile game to understand how we can provide other app publishers with a more beneficial app platform. The app has already had 10,000 downloads and 3,000 daily active users in two months and is doubling every month. It also produces substantial revenues for Verasity!

Triviata is the first and only mobile app that allows redemption of in-game rewards to crypto by the largest 16 ad networks. This is a really important use case because it proves that our tech can be used with the large ad networks to pay rewards for the ads of the major brands. All the other crypto video sharing sites have native ads and banners from minor brands if at all.

Now that we have succeeded with this and Triviata is earning revenue, we can provide a white label solution for other publishers to monetize better and to reward their users with redeemable VRA. This build was a huge step for us because we proved that it works with the major brands and advertising networks.

Read about our Advertising Partnership Update with 16 of the world’s largest ad networks. “…it definitely solves an existing problem of the current ad market…the potential of Verasity and its unique approach to programmatic ads is vast” Blockfyre, Nov 2019

If you have not downloaded Triviata do it now: https://play.google.com/store/apps/details?id=io.triviata where you can earn VRA for playing which generates revenue from advertisers and revenues for Verasity.

In the Verasity white paper, there are some things about abusing, but there are no policies for video contents. What is Verasity policy on harmful video contents? Will they follow their policies if they integrate with existing platforms such as YouTube?

Answer

Verasity is not a video sharing platform. We provide the tools and infrastructure for publishers with content to monetize better and reward their users. It is up to the publishers to police their content.

I heard Verasity integrates with existing platforms such as Twitch, YouTube, Vimeo, JWPlayer, Brightcove, Video.JS, Kaltura, Flow Player, and Ooyala. But I don’t understand how the integration works. Can you elaborate?

Answer

Verasity provides an SDK that works on all of these video platforms on the publisher’s domain. To see an example go to verasity.io and see the esports video just under the fold. This is a YouTube video player on a non-YouTube domain of the esports provider. When you watch the video, the trophy in the right-hand corner turns green and you get rewarded in VRA. This SDK integration is available for most video players in the world which can support millions of publishers and billions of page views.

Can we prevent the illegal acquisition of Verasiy coin by manipulating the number of views on the Verasity platform? Also, how do you check illegal or sensational content in Verasity’s uploaded video?

Answer

Verasity uses certain technical safeguards to prevent cheating and it is developing Proof of View to safeguard the integrity of views even further. The content as stated above is controlled by the publisher who is responsible for its legality.

Because Verasity is a video platform, it needs to attract many people to your platform. To attract people, what is Verasity’s strength compared to other video platforms?

Answer

Since we provide the tools and infrastructure such as an SDK we have no competition and we don’t have to attract any people. We are a layer on top of existing publishers who have billions of views so we don’t have a problem of scale. We already have thousands of users that are on publisher sites using Verasity technology. Since we don’t change the workflow of publishers and we don’t change the habits of users we can more easily scale to the majority while video sharing platforms are stuck with a small number of early adopters.

How can Verasity prevent robots from auto watching and auto-playing videos? You know, there are AIs and Machine Learning robots following human behaviour. If they learn a lot, it will be hard to tell them apart. They even calculate, completes recaptchas…

Answer

It is hard to tell them apart but there is human behaviour that is hard to mimic and the user has to sign up to the VeraWallet to obtain his reward which is still difficult for a robot to do. There will always be a % of fraud, it’s not possible to stop 100% of it but we will keep it within acceptable boundaries.

It is written on WhitePaper “Fiat gateways will be introduced in the future”. Then what ways do people use to get fiat money from VRA when they need? Because there are still a lot of people who don’t know cryptocurrencies that much. Do you guys have a plan to have an instinct and easy way for people?

Answer

Very good point. We will announce a fiat gateway in a few weeks that will allow users to buy VRA simply with VRA via a bank transfer and to receive fiat when they sell their VRA. We are developing this solution with a third party and will be able to announce this in the very near future. This is very important for vera investors as well as publishers so they can both go into the Verawallet and simply buy VRA with a bank transfer or credit card.

Q10

To be a successful video platform, there should be many good contents providers, creators. But It seems a bit hard for Verasity to bring them here. So I am wondering if Verasity has a plan to make contents by yourself or support creators to make good quality contents.

Answer

Again we are not building a video sharing platform and don’t want to be responsible for content providers. We are building the infrastructure and tools for publishers to run rewarded campaigns in exchange for advertising and to reward their users for watching their content and ads. We have a unique proposition in the world with no real competition.

Q11

Will Youtube be able to block VRA SDK? Is this possible?

Answer

No, it is not possible because the publisher can utilize any video player it likes on its own domain.

In this next section, the Pantera Group community asked Verasity some questions:

Question

Most investors just focus on the price of the token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?

Answer

We don’t comment on price but the bigger our network, the more users, the more revenue we generate. Revenues are used to buy back VRA. A good business will prevail in supporting the value of the project and VRA. And Verasity is fundamentally a great business because its business to business with all the publishers in the world and can scale in an unlimited way. Moreover we already built out all the technical implementation of the product and infrastructure (other than PoV) and it is being used by publishers now. So with time, Verasity will scale globally.

Question

I have not yet seen the site with Verasity applied. I’m curious about what platform Verasity works on. Which site can I see the technology working?

Answer

Please go to verasity.io to see the video below the fold and to https://verawallet.tv/earn-vra to earn VRA from many publishers.

Question

YouTube has been dominating video platform industry as the biggest company in this field more than 10 yrs. Like it was mentioned on you Whitepaper, It has an unfair profit distribution system. But it has already got most of the people globally. What kinda special idea or strategy does Verasity have to get through this situation?

Answer

Good question. We are not trying to compete with Youtube, but provide the tools and solutions for the other two million publishers to monetize rewards based ads and even subscriptions using Verasity and VRA.

Question

When users & creators get rewarded by VRA, when it grows a lot, there must be a lot of transactions. Then that could be getting slow. And because its technology is based on blockchain. I wonder if it might be getting slow as it gets people. What solution does Verasity have?

Answer

We batch transactions and for microtransactions, we do not think this part is necessary to put on the blockchain. Once blockchains have scaled we will look at potential solutions then for all transactions to be on-chain. By going on to the Binance Chain which is an order of magnitude faster than ERC20 this problem is solved as well in the intermediate term.

Question

I’m surprised that Verasity’s project is working with Binance.

There’s a lot of projects involving video platform, but are there any advantages or reasons that Binance has to choose Verasity project?

Answer

We are partnering with Binance as they understand how important video is. But they want to use video on their own properties, not on another video sharing platform. That is what makes Verasity special 😁

“Video is a powerful tool to educate, engage and entertain. Verasity’s video player solution offers the perfect vehicle for viewers, publishers and content creators to benefit from the utility of blockchain technology. I’m glad that Binance and Verasity are leading that charge globally.”
CZ (Changpeng Zhao), CEO & Founder of Binance

Question

Verasity’s patent-pending video player enables rewards in the form of our Cryptocurrency VRA, monetization and loyalty schemes within the video player wallet. What is your token economic model and how will its architecture ensure the scarcity of the token and raise its value?

Answer

Viewers get VRA rewards for watching ads. Publishers and Verasity earn fiat revenues from the ads. The amount of revenue that Verasity earns is substantial. Further the publisher must go into the exchange markets to buy VRA to reward their own users and to support their VRA reward campaigns.

Question

Are there some major partnerships in the works? What are the advantages of decentralized workflow systems as opposed to centralized?

Answer

We have elements of centralisation which is important to run a successful business. But we decentralise the value of our network based on our token. This means the bigger our network the better our network value — which can be reflected in our token.

There are many partnerships in the works some of which we will be announced before year-end.

Question

What are plans shaping up for marketing and building a strong, core community which is important for any new project in the crypto SPACE?

Answer

We have working technology and a team of industry experts solving real world problems and gaining revenues. We are motivated about building disruptive technology and succeeding in taking it mainstream.

Question

What about an Asian exchange, please?

Answer

We have announced that we are listing on major exchanges in the immediate future and that we have paid the listing fees.

Our timetable is immediate, the exchanges timetable is less predictable but we are pushing hard, in the queue and moving that queue forward because of our great community, product and determination.

— End of AMA —

Here is our website with some Korean documentation — https://verasity.kr/?lang

About Verasity

Verasity is a leading company providing rewarded video player technology to major publishers across the globe. The patent-pending video player enables tokenized rewards (VRA) as well as loyalty schemes within a video player wallet. The unique technology is already available to more than 2 million video publishers with 550 million users and 110 billion monthly views bringing engagement and revenues back to publishers’ sites. Verasity’s attention-based model creates a thriving VRA token economy between viewers, video publishers and advertisers.

Verasity is the future of online video.

Verasity Products include: VeraWallet: verawallet.tv

Verasity technology is now integrated into the following video players on publishers’ sites: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, Kaltura, VideoJS, Flowplayer, and Ooyala which represents over 95% of all the video players utilized.

📈 VRA/VRAB (ticker) is trading on:

https://medium.com/verasity/verasity-list-of-exchanges-81a396a3efff

VRA and VRAB can be staked for 36.5% annual interest at https://verawallet.tv.

Follow the VRA token at CoinMarketCap.

Follow Us:

Medium: https://medium.com/verasity

Twitter: https://twitter.com/verasitytech

Website: https://verasity.io

Telegram Token Discussion: http://t.me/verasitychat

Telegram Token Announcements: https://t.me/verasity

Verasity Mobile Telegram: https://t.me/verasity_mobile

Kakao: https://open.kakao.com/o/gh8ZK0cb