Gate.io AMA with Verasity (VRA)-To create an entirely new experience in esports, AdTech, and digital rights management

Time: December 30th, 2022, 13:00 AM (UTC)

Gate.io hosted an AMA (Ask-Me-Anything) session with the CMO of Verasity Company, Elliot Hill in the Gate.io Exchange Community.

Official Website: http://www.verasity.io/

Twitter: https://twitter.com/verasitytech

Follow VRA on Telegram and Twitter.

Guest

Elliot Hill—The CMO of Verasity Company

Q&A from Gate.io

Q1: Can you give an introduction to Verasity, including your most recent milestones?

Elliot:Verasity is an open-ledger ecosystem designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content through our patented Rewarded Video module. Our current focus is in fighting advertising fraud, which costs the global economy billions of dollars every year - over $68 billion in the USA alone, with much of this fraud going into funding criminal enterprises. Our technology prevents this.

We also have product verticals in the eSports and video player industries, which we tie together in our ecosystem through our patented 'Proof of View' blockchain-based technology.

The $VRA token, which is used for funding advertising campaigns, staking through VeraWallet, and distributing Watch & Earn rewards, is central to the Verasity ecosystem as a single utility token with a whole host of applications. We've just updated our VeraWallet interfaces, and in the next few weeks, we're going to reveal our VeraCard and pre-order page for the first supported jurisdictions for the card - which will be our first foray into a payments ecosystem for VRA.

We've had a lot of major milestones this year! Perhaps our largest to date have been in our advertising stack, VeraViews, where we:

- Launched our full product on the Brightcove video player,

- Became an Amazon Ads partner,

- Joined the iAB Global vendor list,

- And on boarded the first publishers using our ad fraud solution!

Q2: What is VeraViews and why is it the main focus for Verasity right now?

Elliot: VeraViews is our most important product vertical right now, not just for its commercial applications and market need, but also as the single largest opportunity for the use of VRA tokens.

Essentially, VeraViews is an open ledger advertising ecosystem built around Verasity's patented 'Proof of View' (PoV) fraud identification technology.

We provide publishers (any website that hosts content and videos) with the power to prevent bot traffic - known in the industry as 'Invalid Traffic' or 'IVT'. Through our purpose-built open ledger blockchain, VeraViews is the most powerful and auditable solution for preventing ad fraud, as the first truly transparent solution for tracking advertising data on-chain.

With VeraViews, ads are seen by real people, resulting in a higher campaign ROI% for advertisers and faster payment times for publishers.

VRA tokens from the circulating supply are used in the VeraViews ecosystem. To fund advertising campaigns, publishers and advertisers lock tokens into escrow pools. If they pay in fiat, Verasity can buy tokens from the open market and lock them to fund campaigns - resulting in a market demand for VRA.

Q3: What is rewarded video, and what does your recent patent approval in the USA mean for your project?

Elliot: Really glad you asked about rewarded video, our community members listening in to the AMA will know about our recently awarded patent for rewarded video, but for newcomers I'm delighted to share more!

Recently, we announced that Verasity had secured a patent for rewarded video in the world’s largest advertising and media market, the United States.

Rewarded video is a type of video format in which a user is offered a reward, such as in-game currency or other benefits, in exchange for watching a video, which may sometimes contain an advert. This type of advertising is typically used in mobile games and other applications, and it is designed to incentivize users to watch the video by offering them something in return.

In the U.S. alone, spending on rewarded video has been projected to grow to $4.2B by 2024, and according to Statista the majority of this will be in return for in-game currencies. So, this rapidly expanding market is of key importance for Verasity’s advertising ecosystem.

With our newly awarded patent, we've essentially opened up a huge new revenue opportunity for Verasity. We can now seek license fees from companies that want to use and leverage our Rewarded Video + Watch & Earn tech. We can pair this with our VeraViews advertising stack, and also link it to the VeraWallet for rewards, which makes it another piece of the puzzle for connecting all of Verasity's product verticals into one flourishing ecosystem.

You can learn more about our recent patent for Rewarded Video here: https://medium.com/verasity/rewarded-video-what-does-verasitys-latest-patent-mean-202272d135fe

Q4: What were your major achievements in 2022?

Elliot: We've had our busiest year yet I think, and as I shared above I believe our most significant progress was in our advertising ecosystem, VeraViews. But here's a quick bullet point list of all the major milestones in 2022, with some links:

- We fully integrated with the Brightcove Video Player, enabling all 3,000+ publishers on Brightcove to use VeraViews at the click of a button,

- We expanded our business development team with a new director of business development and a new publishing director,

- We hosted our first major industry events at Cannes Lions festival in June, and DMEXCO in Cologne in September,

- We were included on the IAB Global vendor list (ensuring our solution is trusted by publishers)

- We had patents approved in China, the USA, Hong Kong, Eurasia, and South Korea!

- We joined the AMAZON Ads partner program!

- We launched the full version and back-end infrastructure for our core product on www.veraviews.com,

- We released newly updated VeraWallet interfaces at www.verawallet.io, with card support and new UX for the actual wallet coming soon.

Q5: What plans do you have for the New Year? What will we see from Verasity in 2023 and beyond?

Elliot: We're going to wrap this year up with some case studies and information about the performance of the first publishers using the VeraViews adstack, tracking their performance from ~July this year to December and exploring how VeraViews helped them maximize revenue and reduce fraud.

As we always do, these will follow on shortly after the quarter ends, and be accompanied by a general recap of what we've achieved this quarter.

Moving into 2023, the next big update for our community (there's plenty also going on behind the scenes in the b2b space also) will be the rollout of the VeraCard. I hope our community can guess by now that rewarded video > VeraWallet > VeraCard will all be complementary and this is part of our exploration into a payments solution that links these ecosystems. The VeraCard is central to that. So the first major milestone for 2023 will be the opening of pre-orders for the card, available first in a major jurisdiction in Europe and then expanding out. We'll reveal what the cards look like very soon.

Then, we'll turn our focus to VeraViews. The next major update that the community will see for VeraViews is the addition of publishers (i.e. clients using our stack) and advertising networks (i.e. technology partners) and we'll be revealing more of these in early 2023!