Gate.io AMA with Verasity-An Open Ledger Ecosystem Bringing Trust And Transparency To Digital Advertising And Payments

Time: Nov 8th, 2023 at 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Elliot Hill, CMO at Verasity in the Twitter Space.
Official Website: http://www.verasity.io/
Twitter: https://twitter.com/verasitytech
Follow Verasity on Twitter and Telegram

Guest

Elliot Hill — CMO at Verasity

Q&A from Gate.io

Q1: What is Verasity (VRA)?

Elliot: Verasity is an open-ledger eco designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content. Verasity also provides payment solutions and a rewarding staking eco with 15% yields guaranteed through to April 2024.

Powered by a mix of artificial intelligence (AI), machine learning (ML), and cutting-edge blockchain technologies, Verasity is building the most powerful advertising eco in the world through VeraViews; developing an open-access payments platform through VeraWallet, the VeraCard, and enhancing the attention economy through its patented Rewarded Video module.

Q2: What is the VRA token’s role in your eco?

Elliot: The VRA token serves a multi-faceted role within the Verasity eco, acting as a utility token with a wide array of applications. It is utilized to fund advertising campaigns within VeraViews, staking through VeraWallet, making payments through VeraCard, and distributing Watch & Earn rewards.

Q3: What are Verasity’s patents and how do you use them in your technology stack?

Elliot: Verasity’s proprietary technology portfolio includes two patented innovations.

The first, patented in the USA, China, South Korea, Hong Kong, Eurasia, and most recently Europe, is Proof of View, or ‘PoV’— an ad fraud detection module that prevents fraudulent views from being recorded during an ad campaign. Verasity’s Proof of View technology ensures that ads delivered through video players with a PoV integration are served to real viewers. It does this by using a combination of blockchain and 13 other modules, including Artificial Intelligence (AI) and Machine Learning (ML), to determine real viewers of ads. Proof of View then stores this data on-chain, on our purpose-built sidechain, VeraChain, to let advertisers and publishers audit their campaigns.

The second piece of technology, Rewarded Video, patented in the USA, covers all forms of rewarded videos where users are offered rewards, such as in-game currency or other benefits, for watching videos, including those that may contain advertisements. 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. Our Rewarded Video patent allows us to sell our solution, or seek license fees, for our Rewarded Video method and through license agreements, opening up a new revenue stream for Verasity.

Q4: What partners and integrations do Verasity and VeraViews have?

Elliot: One of our key collaborations is with Brightcove, a publicly traded company listed on NASDAQ. Together, we have successfully integrated our VeraViews ad stack natively into their immensely popular video player, utilized by over 30,000 publishers. This milestone marked a significant moment in the early stages of our solution and has helped large publishers such as news publisher, The Times of Israel, to adopt our technology stack. Our strategic relationships extend to industry giants like Amazon, where we are recognized as an Amazon Ads Partner. This status grants us access to the Amazon Ads API and the ability to drive new prospects through participation in the Amazon Ads Partner Directory. Additionally, being included in the IAB Global Vendor List has further strengthened our bonds with enterprise clients. We have also recently joined forces with Carbon Browser, a Web3 browser with over 7 million users, to explore the integration of our patented ad fraud detection tech, Proof of View (PoV), into the Carbon Browser.

In the realm of crypto, we’ve teamed up with Alphaday to successfully combine our extensive eco resources into a centralized location. This integration serves to simplify navigation, making it easier for both newcomers and veterans alike to explore and utilize our offerings effectively. Additionally, our collaboration with DAMEX, a leading Digital Asset Finance Application, has allowed us to launch the VeraCard. This versatile debit card is designed to facilitate seamless online and in-store transactions, utilizing our eco’s native token, VRA. The VeraCard not only enables users to make purchases conveniently but also enables smooth on-and-off-ramp operations, further enhancing the utility and practicality of VRA within our eco.

Q5: Can you discuss your recent Warchest token burn and your tokenomics roadmap?

Elliot: The Warchest tokens, totaling 10 billion VRA, were burnt due to feedback from our tokenomics community consultation in Q2 2023. The Warchest was initially minted for potential acquisitions and strategic growth, but with VeraViews reaching a revenue stage and having a proven path to commercial adoption, the Warchest was deemed no longer necessary.

Additionally, PoV Marker tokens, totaling 90 billion, are issued on the same contract as circulating VRA and are used for data transfer purposes to power the VeraViews ad stack. They do not contribute to circulating supply. However, they have been identified as exerting pressures on Verasity’s tokenomics, affecting new investor confidence and causing confusion around the mint and burn functionality. Moving them to a separate blockchain would alleviate these issues. We are actively uating various blockchain solutions and are engaging with experts in the field, as well as our community, for their insights.

To aid in this decision-making process, we have launched a second consultation phase, inviting feedback from both industry professionals and our token holders to help us select the most appropriate layer 1 blockchain for the PoV Marker tokens.