Verasity is one of the leading video player apps. The app provides creative technology given by leading video publishers around the world. Its foundation is on the idea of rewarding viewers for watching ads.
Verasity products include; established ad stack and the VRA Rewards System. This is a combination of Software Development Kits (SDKs) for YouTube and all major video platforms.
Verasity’s patented Proof of View (PoV), offers clearness and immutability to beat online advert and NFT fraud.
Verasity is different from other platforms for sharing P2P videos. In that, other platforms try to break the practices of publishers and viewers, by tracing them from large platforms like YouTube. Verasity on the other hand is using the same foundation but preventing it from the inside.
In general, Verasity allows content producers and promoters to create and run their own rewards applications. This is different from third-party video sharing sites or browser applications.
Verasity VRA Token
Veracity’s token VRA is a means of exchange especially for the market of online video. VRA sales transpire through the blockchain from VeraWallet, available from the video player on any participating website.
The wallet and token are made, with the mind that the user needs comfort. Therefore, facilitation of its use in mass markets is put in place.
Currently, the token is listing on the Coingecko crypto exchange platform. VRA was also a selection by KuCoin for its exclusive KuCoin Selection program. All transactions are stored in the blockchain.
How Does It Work?
Verasity’s SDKs publishers are free to choose what video they want to make money from. They then reward their viewers with VRA / VRAB tokens. The viewers will use these tokens every time they choose to watch a video or an advert.
However, the choice of platform is the right way to increase adoption without preventing viewers from switching to another platform or downloading from a browser or the workflow of publishers.
The process of using the Verasity application is a closed cycle. Publishers buy VRA tokens from exchanges to support their campaigns whiles viewers enjoy more content and get VRA.
Viewers also give VRA to the content creators they like or use them on goods and services, as well as sell them for Bitcoin or Ethereum.
Verasity’s Proof-Of-View and The NFT Market
It’s almost impossible to ignore the rise of NFTs in cryptocurrency circles because of the surprising numbers that they have produced in just a short time.
PoV is based on the ERC-777 token standard. This is a new blockchain token standard of the Ethereum network, which owns backward unity with the ERC-20.
Using this discovery to NFTs, the likely buyers can determine the true value of an NFT. It means that users can truly make clarity the value of tokens through the immutable public records that Verasity will provide.
Furthermore, NFTs need shielding from fraud and can also be used in DeFi as security for loans or business contracts.