Verasity describes their platform as a “next-generation video sharing platform designed to liberate creators and benefit viewers.” To do this, they have created new blockchain-based platform that aims to reward all levels of users, from viewers to content creators to advertisers, with its own token.
Verasity has created a safe and democratic space for creators to generate the content relevant to their audience, regardless of their identities. By allowing viewers the opportunity to vote with their views and their tokens.
Verasity, which offers a next-generation video sharing platform, launched the blockchain-based video player “VeraPlayer”.
With Vera Player, viewers can watch videos on a variety of mobile and desktop browsers without having to download or install separate plug-ins or software.
The patent-pending “Proof of View (PoV)” is a technology that guarantees accurate viewing frequency and viewing pattern of content through blockchain-based technology. By using this technology, it is possible to evaluate the true value of content by making it impossible to manipulate the number of hits using the bots, and to prevent unnecessary network load. In addition, Verasity’s video storage and operations use Akamai’s cloud services, providing the same viewing experience from anywhere in the world.
According to a recent report from Cisco, there are predictions that by 2021, 82 % of consumer Internet traffic will be based on video consumption. Verasity’s platform is designed to allow creators and viewers to see greater benefits in the production and consumption of the ecosystem and will create a virtuous cycle structure that will produce better quality content through the ecosystem.
Their version of an internal centralized bank controls the currency being used across the platform and draws upon tools from both fiscal policy and monetary policy to control their platform’s economy. The goal of the foundation is to stabilize it for all users.
The platform’s token is called VERA, and will be the medium of exchange and reward for video creation, sharing and viewing across the platform. Through different methods of earning VERA for each type of user — viewers, content creators, advertisers and sponsors — Verasity hopes to further entice people to use the platform and contribute to its economy.
It is easy to say that it is a YouTube based on a blockchain. But Veracity is showing a blueprint that viewers who see the ad can also make a profit by receiving the token. On the Veracity platform, creators, viewers, and advertisers can use the token Vera to conduct a variety of transactions. Vera is available for purchase or purchase in exchange for viewing or sharing videos. Creators can use Vera to generate revenue directly from viewers who view, subscribe or donate their videos, and they can make a variety of profits through their own channels, such as sharing additional revenue generated by the video. By eliminating intermediaries through smart contracts, creators can make more money and create better content. In addition, advertisers and media agencies can effectively purchase media based on accurate data without hits manipulation, enabling them to more effectively enforce advertising costs.
Between their founders and development team, Verasity already employs 17 people, many of them full-time. The team is highly experienced, with decades of collective experience in finance and software development. The company has also partnered with several prominent investment firms and technology startups to help strengthen every dimension of its business.
A total of 12,491,500,000 ERC-20 tokens will be created; 12% will be sold during the pre-sale for $0.00750 apiece, and 10% will be sold during the public sale for $0.001.
If you’re interested in learning more about how Verasity is bringing back democratic creation to online video platforms, you can check their whitepaper, website www.verasity.io and join their social media (facebook, twitter, telegram).
Ultimately, Verasity’s idea of a stable economic ecosystem aims to give the power back into the hands of the users and content creators by forging a better system for all. Their goal is to be one of the first blockchain-based platforms to offer a stable economy for its users. Based on their successful economic simulations and the support they’ve received from crypto-economic professors so far, it seems they are poised to be well on their way.
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