Verasity Is Changing Gaming With Its VRA Coin and PoV Network
Verasity is a platform for gamers and video creators. How does Verasity's PoV (Proof-of-View) network and VRA token work?
Sep. 28 2021, Published 2:24 p.m. ET
Fraudulent viewership has become a serious problem in content creation and marketing. While some creators have great content and aren't receiving views, they face competitors who use fake views heavily to boost audience metrics. Verasity is one protocol that looks to combat fake views with its VRA token and PoV (Proof-of-View) technology.
We’ve heard of PoW (Proof-of-Work) and PoS (Proof-of-Stake), but Verasity has a unique PoV system that can potentially change how audience monetization works. So far, its VRA coin has the 10th biggest gain of 2021.
What is Verasity?
Verasity is a platform that provides protocol and product layer services for the esports industry and video content creators. Its main products include Verasity.TV, the VeraWallet, its Esports Fight Club, and Verasity Revenues. Verasity.TV is a platform that allows video publishers to monetize their content and earn Verasity’s native token, VRA.
Content creators can earn VRA off of views and advertisements. The platform will pay creators directly for views and the ad developers will pay creators themselves. So, this also allows people to promote advertisements on a user’s video.
Users will be able to watch these videos and earn rewards themselves through the Verasity.TV platform. The TV platform can stream videos from major video websites including YouTube, Vimeo, Twitch, JW Player, and more. VRA earnings will be automatically sent to the VeraWallet.
The VeraWallet is Verasity’s native crypto wallet that holds VRA tokens. When users watch videos on the Verasity.TV or Esports Fight Club platforms, VRA rewards usually get sent directly to their VeraWallet. To use Verasity’s platforms, you have to sign up for a VeraWallet account. The company says that any Ethereum wallet or compatible wallet and exchange can be used to fund the VeraWallet. You can also use a credit or debit card to fund the wallet.
The Esports Fight Club is similar to Verasity.TV. You can watch esports tournaments and earn rewards like EFC Points and VRA. Gamers can enter tournaments, many of them with zero cost, and they can win prizes including fiat money, crypto, and more. Video game companies, public figures, and other entities can host gaming tournaments on the platform. The hosts earn profits based on viewership, tournament fees, the number of participants, and advertisements.
The platform says that it had over 10 million views of its esports tournaments. Verasity generates revenue from all of its products. The protocol earns revenue from its esports platform, commissions, advertisements, and transaction fees.
Veracity’s patented PoV technology, explained
Granted a U.S. patent, the company’s PoV uses blockchain technology to remove fake views from videos on its platforms. Views get reviewed by the community and then recorded as an official view on the Veracity blockchain. This allows advertisers and brands to publish and promote content without it having fake views. Veracity is expanding this service to the NFT market to help combat fraudulent NFTs.
What is the VRA coin and where can I purchase it?
Users can earn Verasity’s native token through watching the TV platform’s videos, participating in esports tournaments, or just purchase it through the VeraWallet. The VeraWallet allows you to stake VRA for 25.55 percent per year, which is a fairly high yield percentage compared to other platforms. Exchanges including KuCoin, Gate.io, and MXC allow you to purchase the crypto.
