Why Verasity is the next Killer App both on and off the chain

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Verasity

5 min readJun 14, 2019

Verasity is in the pole position to exploit the attention-based rewarded video model to solve the problems that are present in the online video industry. What makes us different from all the other solutions that exist, with most failing?

The industry-wide problem

The current publisher-advertiser-viewer conundrum pits the viewer against advertisers, publishers and browsers. We all know the issue: trade your privacy for the use of video platforms and watch ads. Somehow most of us find this an unfair trade and feel we are being forced to watch ads to enrich the large platforms on the back of our private data. So we do everything to block ads which makes it more and more difficult for content providers to make the great content we want to watch. So actually we are hurting ourselves while enriching the giants.

The most widely supported solution has been the creation of a slew of new video sharing platforms that reward us and appear to be fairer for the content providers and publishers. The only problem is that we have to move off our favorite platforms to new ones and the publishers have to make really big changes to their work-flows to make the move. So nothing happens. We don’t move to the fairer better video sharing platforms and publishers continue to lose money on their current platforms.

Any hurdles to publishers’ workflows or users’ habits and preferences limits scale to early adopters and will find it challenging if not possible to get to the early majority.

The best example is the move by the largest YouTuber, Pewdiepie, to DLive. A paltry 0.25% of his 95 million YouTube fans moved with him. So much for that idea.

The Solution — Opt-in Value Exchange

If instead we don’t have to move to a new platform or change our habits or preferences and are paid for our attention and engagement and we are happy with the value of payment, the dynamics completely change. We then can have our cake and eat it. And if publishers don’t have to do much either and not change their workflow, well everyone is happy.

I may not be crazy about watching an ad, but if I’m paid for it and know that the revenue is flowing to the content provider to create better content for me, I will live with it. Does rewarded video really help publishers? The IAB, which sets the standards in the advertising industry, published data at the end of 2018 that suggests it helps publishers by a factor of 5–10x. Wow, that’s a lot of increased revenue to spend on great content.

Ok, but how can Verasity do this without changing the underlying way publishers work and my own video habits and preferences?

The Verasity Solution

Verasity took a complicated problem and turned it on its head. Instead of creating a whole new disruptive infrastructure that moved everyone around, it is using the same old infrastructure but disrupting it from the inside.

Verasity wrote code which are modules that integrate into all the main online video platforms: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, Kaltura, VideoJS, Flowplayer, and Ooyala which represent over 95% of all the video players utilized. With this milestone completed we will on-board the millions of publishers requiring rewarded video and loyalty programs to increase their engagement and monetization to thrive. These publishers represent over 110B monthly views. (Some have already moved to: verawallet.tv)

The Verasity module unites rewards and loyalty programs into one video player wallet that can be shared by all the participants in the chain: viewers, publishers and advertisers (see our killer app in action on the YouTube player at verasity.io). Currently there is no coherent rewards and loyalty wallet that can include any form of reward/loyalty program in one location and shared across all video platforms (and this includes crypto as well as non crypto: Think Miles & More).

The killer app is a cohesive rewarded platform that any publisher can integrate in a few minutes within its current workflow and does not require viewers to download anything new or change their habits or preferences.

The new video sharing platforms (P2P decentralized)

The new video sharing platforms (many) have not been able to scale because they endeavour to break publishers’ and viewers’ habits. Further those that are P2P decentralized have incredibly poor quality particularly for eSports and fast moving content. By building on all the current OVPs (online video platforms) with SDK module integrations and differentiated loyalty and reward programs, Verasity will scale without any hurdles. And the quality is what you would expect from the best content delivery networks. This killer app is already available to more than 1.6 million video publishers with their own sites with 550 million users and more than 110 billion monthly views.

Verasity believes this is the future of online video.

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 1.6 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 has a partnership with Binance Chain, a blockchain software system developed by Binance in a move that will bring about a new incentivised video economy.

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 (ticker) is trading on:

HitBTC: https://hitbtc.com/exchange/VRA-to-BTC, https://hitbtc.com/exchange/VRA-to-eth

STEX: https://app.stex.com/en/basic-trade/pair/ETH/VRA/5

CoinAll: https://www.coinall.com/market?product=vra_btc

DCoin: https://www.dcoin.com/currencyTrading/VRA_ETH

Shortex: https://shortex.net

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

Follow the VRA token at CoinMarketCap. Join our Telegram chat at https://t.me/verasitychat.

Follow Us:

https://verasity.io

http://t.me/verasitychat

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