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Verasity Is The Best Attention-Based Video Rewards Model

Scott CunninghamJul 27, 2019, 3:15:44 AM

Introduction

Verasity builds the infrastructure and tools for video publishers to serve rewarded video and loyalty programs to their viewers.

Essentially from what I’ve gathered, it’s like Brave, but for videos. Also, it can work on Brave so you can earn BAT and VRA at the same time for anyone who is working with them. Anyone can apply if they publish on many sites like YouTube, Twitch, Vimeo, and more. I hope to see it expand to work with other alternative platforms like BitChute, Minds, BitTube, LBRY, etc. It works on top of any of these videos and just adds a simple little trophy icon that will turn green when you are done allowing you to earn VRA.

I think this is great for users and creators because you can buy a large amount and run a campaign to incentivize full play-through and encourage more viewers to watch and be rewarded for their time at a low cost to the advertiser (for now). You won’t earn an insane amount, but as they grow, and more and more people use it naturally the value will go up and then it will be much more relevant that you had earned some.

After you watch the video and it does turn green and you claim it, you then receive the rewards on your rewards account which is separate from your wallet. You’re earning based on what the advertisers have put up for the campaign which will run until it’s out so naturally, you’ll want to watch what you want to before you miss your chance to earn for it. Below you can see I earned 10 VRA for the video I watched

I waited to buy a bunch of VRA after July 20th because Verasity is holding a contest on Binance DEX which is timely in line with this article. Also regarding Binance DEX, I recommend using as well for a great decentralized exchange that is also made by a trusted source. I also use Rudex. Anyways, this contest is going to be big, they are giving away 500 BNB + VRAB staking spots which they will launch soon. The contest runs from July 20th to August 21st. Given I am participating in the contest, this is somewhat to my own detriment to share with you, but if you all participate the value will go up anyhow. Check it out here: https://medium.com/verasity/verasity-trading-contest-on-binance-dex-500-bnb-10-vrab-staking-spots-to-give-away-37f5a15e65e8

They also have a great section that shows you exactly what to do on their Earn VRA tab: https://verawallet.tv/earn-vra

I’ll be buying more as I’ll need 100,000. Earning 0.1% interest daily and only having to wait 3 days for the lock out period, I’m all for it! I’ll be earning via stake as this earns more value from wider adoption. By the way that means 36.5% annually! In just a few years, you could double your investment, wow.

On the earn page you can also see the current campaigns running and ones that have ended to get an idea of what out there currently.

They’ve also partnered with Keyi store and eBonus.gg, for now, to earn more rewards and have a place to spend them directly if you should so choose to. They will continue to work with more providers and expand their partners too. Currently, that means you can buy video games, clothing, accessories, gift cards, and an array of digital items.

This is where you can go to sign up to start growing your audience: https://verawallet.tv/grow-your-audience

Currently, you need your own domain to apply functionality with YouTube or any of the major video applications, but soon enough I expect them to integrate more fully with the sites themselves or with an extension or some workaround.

Note that you need to have a wallet and separately sign up for the rewards program. You can grab your wallet here: https://verawallet.tv/

From there you can fund campaigns, earn, stake, send, and spend your tokens.

Their site is really packed with information for you as well and considering the price as of writing this is only 0.000679 I’m really excited to see where this token goes. It’s sitting nicely at rank 628 on CoinMarketCap as of writing this, which is great for a new coin and a perfect time to buy in especially with the contest!

https://coinmarketcap.com/currencies/verasity/?utm_medium=widget&utm_campaign=cmcwidget&utm_source=coinmarketcap.com&utm_content=verasity

I want to utilize the information and graphics they must explain how it works because they do an amazing job and we don’t have all day to go through the whitepaper. If you do want to check it out though it’s here: https://verasity.io/documents/verasity_whitepaper_eng.pdf

They’ve also been getting a lot of coverage in the news like when they switched from the Ethereum network to the Binance Chain as well as many major publications explaining it similarly to this article and video now.

They are aiming to solve the issue of intrusive and invasive advertising leading users to block ads that hurt the creators and advertisers. By awarding users for their time and attention, they are more incentivized to view ads and watch content all the way through which helps advertisers and creators. Not only will this help creators boost engagement, but then you’d also be able to donate to them in the future to help with their campaigns without having to spend any money, just some of your attention on a few ads like the way the Brave browser operates with $BAT. So, one thing to note is the difference between creators boosting and advertisers. Creators will pay you to finish their content all the way through whereas you can also enable ads and earn more VRA for doing so. The advertising money earned from these ads will then be used to buy VRA back from people on exchanges thus keeping its value and trade volume up, as well as ensuring that you are able to sell off your VRA. This will also help creators earn more money, so everyone wins with this model.

Verasity.io

Let’s really dive into it now, they have a lot of information on their page and some great graphics to help explain the problem they are solving and how they solve it as well as all the technical aspects and the model behind the token.

There are the 6 major issues people are dealing with when it comes to monetizing their videos as a user and a creator. Users deal with intrusive ads, privacy violations, and lack of incentive. Creators have low revenue, blocked ads, low engagement, and a low ROI.

Verasity wants to solve this by adding VRA rewards to all major video players and integrating the reward model into the platform seamlessly. You’ll be able to use your VeraWallet as an in-video application and the pending new model for verification to ensure authenticity and legitimacy called “Proof of View.” This effectively is meant to solve the issue of people not wanting to leave their major platforms and creators not being able to work outside of their major platforms.

This cycle shows how the cycle works to continue the flow of VRA moving and being traded throughout its roundabout cycles.

They have an amazing roadmap that details what is in the works and what they’ve managed to complete already.

They also have a lot of big partners and investors and I’m confident in where they are headed. I’m surprised the value of the coin is so low currently and I expect it go up that’s why I’m personally getting in now and joining the contest.

The last coin I looked at in its earlier stages was NRG which since went up over 10x within 7 months of my review literally titled “Energi Is On The Come Up” where it went from 0.70 to 9.30 or so. I foolishly sold it before the major boom, by my point is that I don’t recommend coins lightly, however I don’t necessarily recommend you do anything with your money, but rather I present to you the same information I have at hand and let you know why I am investing.

I think attention-based tokens like VRA and BAT are going to be leading the charge for monetizing your time and attention and empowering both the viewers and the creators. I hope to see more from Verasity and more projects like it!

This is a great similar article written by Blockonomi if you think I missed anything here or you just want another take: https://blockonomi.com/verasity-video-rewards/

Or this great medium article by @CryptoAmie - https://medium.com/@CryptoArnie/video-streaming-on-the-blockchain-the-little-video-player-that-could-ef0f7be64821