Creators, broadcasters, and publishers continue to struggle to make money online. Advertisers and agencies are facing a well-publicized crisis around ad-fraud. And Viewers are becoming increasingly discontented with video advertising and having their data sold on by corporations.
Verasity was borne out of the realisation that blockchain technologies and decentralisation could empower a new type of online video economy, giving greater control, benefits and rewards to Viewers, Creators, Publishers and Advertisers.
Utilising bespoke and unique video technology (developed over the past 4 years) and integrating both proprietary and open source Blockchain technology, Verasity is developing a full ‘online video toolkit’, including:
Verasity.tv - a community driven video sharing platform that uses our full suite of tools
vDaf - suite of online video tools for broadcasters and media outlets
VeraPay - decentralised and transparent global payment gateway utilising VERA (VRA)
Proof-of-View™ - patent-pending analytics and anti ad-fraud solution stored on the Blockchain
VeraPlayer™ - Verasity’s proprietary HTML5 video player with in-built wallet functionality
Spark Marketplace - the next evolution in crowdfunding for online video content
How does Verasity work?
On Verasity it’s completely up to Viewers whether they choose to watch adverts or not. If they choose to watch adverts they’ll get paid directly in VERA (VRA) cryptocurrency by advertisers for their time. Viewers also get to decide whether they want to receive targeted advertising and whether to share their demographic information. Once again, the choice is up to the viewer on Verasity!
Viewers will now be able to reward their favourite Creators directly and transparently. Creators have more unified monetization options available to them than on any other current video-platform meaning new and exciting types of content will flourish.
Monetization can also be set on a per video basis - there’s no one-size-fits-all model on Verasity:
Free to watch with optional VERA donations
Pay-per-view — viewers pay VERA to unlock individual videos
Paid recurring VERA subscriptions where Viewers can access all premium content
Verasity’s Proof-of-View™ technology ensures that advertisers only pay when their adverts are watched by a real human. Verasity also removes the intermediaries which currently swallow up to 70% of the value. The result is more value coming back into the Verasity community.
Verasity’s Competitive Advantage
Videos on Verasity's system are hosted on the world's largest CDN (Akamai) rather than using unproven decentralized video distribution technology. Right from the start users will receive the consistently high-quality experience they've grown accustomed to and that is essential for adoption of the platform.
Verasity’s video player technology (VeraPlayer™) has distributed over 8 Petabytes of data in a month and is already embedded on leading ICO rating sites such as ICO Bench.
Decentralized blockchain - Verasity’s high-performance blockchain will provide the throughput required to support microtransactions at scale, overcome congestion, and other issues such as users forcing hard forks.
Proof-of-View™ (Patent Pending) - Ensures accurate and secure audience metrics, allows for independent auditing, and tackles issues such as ad-fraud and fake/bot views.
Spark Marketplace - Think the next evolution of crowdfunding where users will be able to directly fund the growth of content as well as fund projects such as feature films and then receive an on-going share of the success in VERA.
Economic Model - Working with Dr. Christian Jaag (founder of the Centre for Cryptoeconomics), Verasity has commissioned one of the most extensive economic analyses ever undertaken on a crypto-economy. The model, which was created off the back of thousands of simulations and stress tests, is designed to create a stable economy with a 3% inflation rate. More information can be found at this link: https://verasity.io/documents/verasity_economics_eng.pdf
vDaf - a suite of online video platform products designed for international broadcasters and large media outlets. Verasity's suite of products will allow them to use our video platform, CMS, VeraPlayer™ with integrated wallet, analytics, Proof-of-View™ technology, and last but not least our robust monetization system that allows donations, pay-per-view, monthly subscriptions, and the revolutionary Spark Marketplace.
Token Compliance - Verasity is SICOP (Sustainable ICOs Protocol) compliant meaning that Verasity is committed to conducting a safe and secure ICO, maintaining good practice and ethics. Further information is available: http://sicop.tokeny.com/verasity-tokeny-u180301
What problem is Verasity trying to solve?
For Viewers:
Viewers are rewarded for their attention by advertisers if they choose to watch adverts
Take back control of their data - decide what demographic data to share with advertisers
Ability to support their favourite creators directly
Proof-of-View™ verifies that the viewer is real, and submits the content/ad view to the blockchain, removing any fake views.
For Creators / Publishers:
VERA cryptocurrency removes intermediaries (far lower transaction fees that the 45% commission large video platforms command)
Immediate payments (no longer waiting 60-90 days to receive payments)
Proof-of-View™ technology negates “fake video views” to ensure all content can be discovered fairly and equally
Centralised CDN infrastructure to ensure all content can be streamed in high-quality (HD, 60 FPS), low latency and low buffering
For Advertisers:
Eradication of ad-fraud, greater ROI for media spend, true accountability
Higher engagement and interaction with viewers through ‘permission’ based advertising (viewers chooses to watch adverts and is rewarded in VERA coins)
Partnerships with a new wave of blockchain powered media agencies are already in place with AdBank, XCHNG and The Truth Agency to provide advertising brands with full transparency in media buying across the value chain
Verasity Product and Blockchain Technology
Verasity has built and scaled its online video platform over the last 4 years with an exclusive relationship with Akamai. Our Blockchain architecture is currently in development and whilst we are planning on building on Graphene (DPoS), we want to be chain agnostic and following recent advice, our team is investigating and exploring the EOS framework.
Our proprietary HTML5 video player, VeraPlayer™ is already operational and can be found here: https://verasity.io/?veraplayer
