erasity was founded in 2018 and is a Proof-of-View Web3 protocol with a mission to decentralise the Esports and digital entertainment industry, striving for the monetisation power of video creators and competitive gamers, all while fighting digital ‘Ad Fraud’.
The Verasity Proof-of-View (PoV) is their unique consensus mechanism that is the only patented technology on the blockchain, but what is it?
What is Proof-of-View (PoV)?
Proof-of-View is Verasity’s very own patented technology which was designed to combat digital advertising fraud, using the powers of blockchain.
Digital Ad fraud is very common and happens in various ways, which causes millions of advertisers to lose roughly over $80B a year. This is why Verasity invented Proof of View, which guarantees that every Ad view stored on the ledger is secure and authentic!
All of this is done through ‘VeraViews’, their Web3-powered ad stack built around Verasity’s PoV technology. They guarantee fast and secure payment terms with full transparency!
How Does VeraViews Work?
Well, advertisers that are starting an ‘Advert’ on VeraViews will first have to deposit VRA tokens to the VeraWallet which will then initiate an ‘Escrow Pool’ and distribute the VRA tokens to the advertisers and viewers!
This technology will always ensure all views are verified before VRA tokens are paid out. This is the future of online advertising.
Verasity tapped into the $1.38 billion Esports and the almighty $80B Video Streaming market by setting up the VeraEsports platform, which was built for both video streamers/Esports pros and viewers!
Verasity allows all users on the protocol a chance to earn, unlike centralised entities like Twitch or Youtube which only allow content creators to earn a fraction and with specific T&Cs.
Viewers can watch live streams or videos and earn rewards. The rewards can be spent in their marketplace which offers a variety of NFTs, Steam gift cards or even the native token, $VRA which can then be sent and sold for fiat on a CEX like Bybit.
VeraSports currently has some of the most popular played & streamed games, like Counter-Strike Go, PUBG and many others! The platform even hosts its own E-Sport competitions that give away up to $15,000 to winners every month!
The VeraSports platform has already achieved over 10.9 million video views, over 5,256 matches played and over $158K distributed in prizes! Once the streamers from Twitch and YouTube hear about Verasity, I think we will see a spike in blockchain adoption!
The VeraPlayer is Verasity’s in-house video player which is designed to benefit both viewer and broadcaster:
For viewers, it’s very simple. Click the video, sit back, relax and earn. No software or plug-ins are required to watch videos.
Users looking to broadcast will benefit as they don’t need any expensive server equipment whatsoever as the broadcaster can utilise the Verasity cloud.
The upcoming ultimate NFT ecosystem is coming and it will be known as the VeraVerse. Users can expect:
- NFT Art
- In-Game NFT Items
- Metaverse NFT Collectibles
- And so much more to come…
VeraVerse was expected to launch in Q3 2022, however, it isn’t unusual to have delays and I’m sure we will see the launch early in 2023.
The Metaverse will play a big role in the future and without a doubt, NFTs will be key.
Verasity NFT Fraud
Verasity’s unique patented Proof-of-View technology also supports authentication of NFT art, sellers and marketplaces to prevent any fraud from taking place.
One might ask, what is NFT Fraud? Well, it comes in various forms:
- Forging original NFT art
- Sell failure due to insufficient buyer funds
- Disabling access to the content after the trade of an NFT
- Duplicating NFTs on multiple marketplaces
- And many more can be recognised.
Verasity is aware of all the possible methods of Fraud that could take place and therefore uses three custom solutions to increase overall security:
- Verify the origin
- Verify the authenticity of the seller
- Verify the authenticity of the NFT marketplace on which the NFT/art is listed.
Fraud protection is extremely important in a world of decentralisation.
Verasity (VRA) Roadmap
The future of the protocol is fierce. There are many upgrades, partnerships and new products coming and we should be excited. Here are some cool things coming our way:
- VeraPay - Native Payment App for selected Countries.
- Website Update
- VeraCard - An official payment card for European users.
- Transak Integration - VeraWallet
There is so much more coming, if you wish to take a look at the full roadmap yourself, you can follow this external link.
The VRA token is used to power the entire ecosystem and participate in any of its products. VRA has a Maximum supply of 110.36 Billion tokens and currently has 10.35 Billion in circulation.
The Verasity protocol will occasionally burn $VRA tokens to help maintain a healthy price and combat any forced sell pressure. Over time we will see VRA become scarce, however, the protocol proves to be scalable.
If you are interested in getting your hands on the VRA token, then down below you can choose any of the three options below.
How To Buy Verasity VRA
If you’re looking to buy VRA you can either buy the tokens on over 28 CEXs, the Ethereum network or the native wallet, ‘VeraWallet’.
We have broken down the three ways of buying the VRA token:
Option 1- Centralised Exchange
The VRA token is currently available on 28 different centralised exchanges. However, it is not available on Binance, Coinbase or ByBit, therefore, there are a lot of hands to reach still…
Here are some Centralised Exchanges we recommend for you to buy or trade the VRA token:
- BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
- Cryptocom - Official Fifa 2022 World Cup Sponsor
It is always recommended not to store your crypto on a centralised exchange due to the various risks it may hold. That is why we recommend option 2/3.
Option 2 - DeFi Wallet & Decentralised Exchange
To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):
If you are buying VRA through your DeFi wallet, you will need to have your Ethereum wallet set up and ready with ETH tokens to use for gas fees. If you haven’t set up a DeFi wallet or don’t know how to use the Ethereum network, you can check out our tutorial videos here:
For those who want extra Verasity perks, Option 3 may be best for you!
Option 3 - VeraWallet
The Verasity official wallet, VeraWallet allows users to store the VRA token, as well as earn from Staking and/or publishing an advert. With new integrations and cool features coming, you might want to join the other 350k VeraWalet users.
Those who use VeraWallet can stake idle VRA tokens and earn up to 15% per year, which is a lot compared to many other Web3 protocols!
At the time of writing, the VRA token is sitting at a price of $0.004284 with a market cap of just over $44M. $RA once peaked at a price over $0.086 with an incredible market cap of $386.2M!