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Verasity puts bots on the blockchain leash

 


The video platform Verasity wants to improve the monetization of video content using blockchain technology. Viewers who are rewarded for their clicks according to the watch-and-earn model can also benefit from this.


Tired of revolutionary B2B concepts from sleazy financial experts with blow-dried hair that promise you financial independence after just one free webinar? As intrusive and involuntarily trashy as YouTube advertising is, it is what makes it possible for video producers to monetize their content. Away from the big streaming platforms, alternative platforms and browsers are trying to convert the advertising-driven model. With a concept similar to that of the Brave browser, which rewards users for watching commercials with its cryptocurrency BAT (Basic Attention Token), the video platform Verasity wants to improve the monetization of content - using blockchain technology.


Verasity tells Bots to fight back

As lucrative as the advertising business on video platforms is, companies and creative people lose millions every year because the traffic is manipulated. According to IT security firm Barrakuda Networks, bots accounted for 64 percent of Internet traffic last year. The damage affects the advertising industry in particular. Statista estimates the global loss in digital ad fraud at over $80 billion this year. Trend in recent years: increasing.


Verasity claims to have found a solution to this problem: Proof of View. The patented Proof of View (PoV) technology detects fake page views by bots and ensures that only "real" views are recorded. Verasity assigns users an ID, tracks video views, verifies them as real, and then records them on the blockchain.


Watch and Earn VRA


This is where the platform's native cryptocurrency VRA and the VeraWallet come into play. Publishers are rewarded with the VRA token according to the (real) number of clicks, viewers in turn receive VRA when they watch videos with or without advertising. VRA growth targets the network effects of PoV technology: "The more viewers join the Verasity network, the higher the revenue," the white paper states . The VRA tokens can be exchanged or staked via trading venues.


One focus is on e-sports, which Verasity covers with the VeraEsports platform. Here, too, the project relies on Watch and Earn: Users watch e-sports tournaments and receive VRA for their staying power. This is where growth potential could still lie dormant. The gaming and e-sports market is growing rapidly. Gambling and crypto form a large intersection, corresponding brands can advertise their products well in this area.


chances of success


Verasity competes with other alternative social media platforms such as DLive, DTube, BitTube or VibraVid, but may have found a solution to an industry-wide problem with Proof-of-View technology, which is already embedded in the most popular video players, from Youtube until twitch. The team also has many years of experience in the crypto and development area and has been able to keep to the not short roadmap so far. But does the farmer also eat what he does not know? It remains to be seen whether Verasity can pull users away from the big platforms.

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