Verasity (VRA) Deep-dive - The What, Who, and How
A deep dive into VeraViews, VeraWallet & VeraEsports
Verasity (VRA) has been taking the ad fraud world by storm, securing its patented Proof-Of-View technology in multiple countries and partnering with giants like Brightcove, Amazon Ads & Hoopla Digital.
But what is Verasity? What do they do, and can we get further insight into how they work?
If you want to keep track and up to date with Verasity, check out our Official Verasity Dashboard.
What is Verasity?
Verasity is a blockchain company aiming to defeat one of the most significant issues for Digital Ad Networks; Ad Fraud. This is done through their unique patented Proof-Of-View technology, which aims to solve both video ad and NFT fraud.
According to Statista, ad fraud cost an estimated 100 billion dollars between 2018 and 2033. With Proof-of-View, this is expected to shrink significantly through transparent data and security to its partnered ad networks.
Alongside this fantastic technology, Verasity offers its blockchain wallet, VeraWallet, which holds only the VRA token and works in tandem with its VeraEsports and Watch2Earn ecosystem.
How does Verasity work?
Verasity offers a multitude of different products, which include VeraEsports, VeraWallet & VeraViews, along with their own VRA token.
VeraViews (PoV) - A tech stack aimed at combating video ad fraud across all significant platforms and NFT fraud within their own NFT Market.
VeraPlayer - This video player works with the VeraViews ad stack. Currently, this is deployed on VeraEsports and can be used within Brightcove and other partnered ad agencies.
VeraEsports - This is the go-to place for Watch2Earn content, which also uses the VeraViews PoV technology to track and monitor its data.
VeraWallet - A custodial wallet, which is looked after and kept for by Verasity. This is used for storing their native token VRA.
VeraVerse - This is an upcoming NFT Marketplace that doesn’t have too much information. However, they are aiming to incorporate their ad-fraud detection to stop copycats!
These products include a subsection of tools such as their VRA. Watch2Earn rewards system is available on YouTube, Vimeo, Twitch, and other major platforms. They keep some aspects of this open and available via their GitHub.
The cross-over between Blockchain and current Web 2.0 technology within the Verasity ecosystem is fantastic. Proof of View is a patented module within their entire ecosystem that utilizes AI, Bot detection., and Data Gathering to determine whether a view of an ad is legitimate.
Whenever an ad transaction occurs, it passes hundreds of different parameters and checks that identify whether a use is legitimate or a bot. By keeping these transactions on the blockchain, both parties involved in deploying adverts can see the public ledger to allow for further trust.
While Verasity keeps this Proof-Of-View technology under wraps, they go in-depth in a medium article.
VeraEsports, previously known as Esports Fight Club (EFC), was used to test their proof-of-view technology and incorporated their “Watch and Earn” tech.
This system rewarded its users for watching video game-related content on the VeraEsports website for a certain amount of time, giving them an exchangeable currency for either their native VRA token or in-game goodies within games like PUBG.
What is the VRA token?
VRA is the native token used within the Verasity ecosystem; it supports their platform by adding value to each of their stacks in some way or another. This means VRA can be used for participation on the VeraEsports platform, staking via Vera Wallet, and incentivizing ad views and engagement for VeraViews.
The Token Type is ERC-777 and has a max supply of 110.36B but only 10.34Billion in circulation. This is due to how the Proof-Of-View technology works and is something we break down further on the Official Verasity Dashboard.
It’s worth noting that the Marker Tokens are slightly different from the main VRA tokens (Within the circulating supply), which is explained by a member of their team Elliot here:
Who is behind the Verasity Team?
The Verasity team is built with professionalism in mind. Members have been in the Media & Advertising space for a considerable time and have over a century of experience. The core team is as follows:
RJ Mark - The Founder of Verasity, has been an entrepreneur developing hardware and software since 1996. He has been managing the development of product launches for well over 20 years.
David Archer - David is a Director & part of the Legal Counsel. He has over 30 years of experience in litigation, trust law, Not for Profit entities, Dispute Resolution, and Compliance.
Robert Keogh - The Financial director for Verasity, he has over 20 years of experience leading finance teams and is a qualified accountant with FTSE 250 training.
Sergey Molybog - CTO and highly regarded for over 15 years. He’s been developing and implementing complex infrastructure and technical solutions in the Video Player, Ad Tech, CDN, and Blockchain industries making him a crucial part of the team.
Olena Buyan - CPO and highly focused on providing results with a proven track record. She has over nine years of experience in end-to-end iOS and web-based app development.
Dan Hodgson - Head of Business Development and is considered an expert in advertising sales. Dan’s primary role is to expand the number of publishers and advertisers using the VeraViews ad stack.
Elliot Hill - Elliot is currently the face of Verasity and is experienced in crypto-related PR and communications. Previously he led the communications for Cardano, another huge crypto project.