Verasity (VERA) IEO

Verasity is a blockchain-based video sharing platform that utilizes a reward system for activity on the platform.

Whitepaper

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What is Verasity

Verasity is developing a next-generation video sharing platform. This platform will empower Creators and improve the experience of watching video online.

There are many existing challenges identified with the online video space today. Verasity’s team of media, technology and blockchain experts are building a new model where Creators and Viewers transact directly on the Blockchain, removing the need for intermediaries. The Verasity Player and online video platform is fully functional and can be seen at: verasity.io This includes the Verasity Player Wallet prototype.

The “VERA” token is a new medium of exchange and reward for video creation, sharing and viewing across the Verasity community. Anyone watching videos can earn VERA currency. If they choose to watch adverts or share the videos with their network, they will then receive further rewards in VERA. The platform gives Creators and Publishers a variety of monetization solutions to choose from. Verasity’s mission is to help them generate more value from their content. All transactions of the VERA token will be tracked and stored on the Blockchain utilising Delegated Proof of Stake (DPoS).

In a goal to bring Creators and Viewers together to support the creation of great video content. “Spark” is a brand new take on a Marketplace where Viewers can fund Content Creators using VERA. Creators can opt to sell a “stake” (VeraSparks) in their channel to finance production of new high quality content. Then those who have supported them can share in their success.

To ensure transparency and integrity for the community, Verasity are developing a proprietary “Proof of View” technology. Every video view will be securely tracked and stored on the Blockchain. This provides the security, flexibility and scale to support a flourishing new environment for Content Publishers, Advertisers and Viewers.

The project vision is for the Verasity Protocol to also be adopted across the wider web and for VERA to become the cryptocurrency to power the future of online video.

Key Takeaways

Verasity fundamentally changes the online video ecosystem and economy in the following ways:

1. Verasity has developed a patent pending “Proof of View” system, enabled through blockchain technology, to provided accurate, secure and auditable audience metrics.

2.Verasity disrupts the commercial dynamic of the traditional media ecosystem by making Viewers the center of all content transactions, and making the transaction direct between the Viewer and other participants in the ecosystem such as Content Creators and Advertisers.

3. Due to these direct relationships in the Verasity ecosystem, the success of content is determined by the organic consumption/valuation of the content by the viewer community, rather than being influenced by the monetization strategy of a third party.

4.Verasity encapsulates the whole video sharing ecosystem and economy, for all participants. This results in all value exchange being retained within the economy and community.

5. Through the Spark Marketplace, all participants within the economy can provide funding to content channels in exchange for a portion of the channels future revenue. As a result, both active participants within the economy and Speculators (outside of the economy) have additional ways to grow the ecosystem and benefit from its growth.