Community and Media8.5/10
- Prevents fake views by using PoV on the blockchain.
- Multiple monetization methods.
- Power to creators.
- Blockchain infrastructure is well developed.
- The team is less experienced and unorganized with local experts.
- Various similar platforms are available in the market to increase transparency and monetizing video. So very high competition.
- No description of legal and financial aspects in the whitepaper.
If you are keen content creator, viewer or an advertiser then this post is for you.
The online video market has an estimated value of more than $300 billion. Largest video platforms generates over 1.1 billion hours of watch time. Some social platforms forces its user to watch the ads so that company can earn revenue from the advertisers.
All the data of creator is stored centrally so there is no way to prove it. Also sometimes the creator has to wait for 60 days for the payment. So to earn more amount of money creators make huge contents and upload on the platform. As a result the platform uploaded with so many videos which is impossible to watch becomes unable to provide sufficient ad revenues generated by the content.
In addition to that creators who generate large amount of audiences to watch the video, generates high level of revenue. In opposite to that the videos which are good niche with good quality is unable to generate revenue as it is dependent of maximizing views. This led us to irrelevant contents, less focus on niche and video qualities etc.
Some creators fools the platform using bots and creating fake views through the rankings. This creates an unfair market place. Advertiser also want to advertise with safe brands and real users. As the revenues are the key to the platform but because of fake views advertiser complaint against that and reduces the revenue.
Creators depends upon their solid fan base and not content. Publishers or Creators looking to use an enterprise video solution to host on their own site will have to invest massive upfront fees and cover expensive bandwidth, storage and player fees.
These are only some problems. There are number of problems associated with online video platforms. This creates an unbalanced environmental economy between content creator, viewer and advertiser.
Verasity intends to break this creator-viewer-advertiser chain.
What is Verasity?
Verasity is a next generation developing video sharing platform. The platform will give power to the creators which will improve the experience of watching video online.
Verasity is a team of media, technology and blockchain experts who are building a new model where Creators and Viewers transact directly on the Blockchain, removing the need for intermediaries. The platform provides number of monetization solution to the creators and publisher.
How Verasity works to solve online video platform problems?
Verasity 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 points of Verasity?
Verasity has developed a patent pending “Proof of View” system, which is enabled through blockchain technology. This provides accurate, secure and auditable audience metrics.
The platform 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.
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.
Verasity is a bridge between the whole video sharing ecosystem and economy, for all participants. This results in all value exchange being retained within the economy and community.
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.
What is Verasity Proof-of-view (PoV)?
PoV™ is a system designed to securely verify content consumption on the ecosystem, in a way that is publicly transparent and tamper proof. It is utilized within the Verasity economy to ensure the integrity of audience metrics and therefore the integrity of the ecosystem as a whole.
To ensure an accurate and transparent PoV™, Verasity will implement publicly auditable logs. These logs will contain all views and content recommendations along with anonymized viewer information. The information will all be General Data Protection Regulation (GDPR), Payment Card Industry (PCI DSS), and ePrivacy compliant.
A Merkle Hash Tree guarantees that the database has never been altered. In the hash tree, each view’s event data is hashed before being combined with other hashes until a final top hash is reached. Each top hash represents all the data stored in the specific chunk of the database.
The database itself is split into chunks. A new chunk is created each time a new block is created in the Blockchain.
|Price in Token||1 VRA = 0.0075 USD|
|Token for sale||6,245,750,000|
|Min investment||100 USD|
|Distribution in ICO||50%|
|Soft cap||4,000,000 USD|
|Hard cap||25,000,000 USD|
The project is full of technology and inbuilt products which will help platform to generate revenue. Although as some information are missing in the white paper they have managed to give every possible details. The presentation skill is also nice. The only problem is that the team is lacking behind in terms of experience which will create a problem as the competition is very high in the market.
So I hope you like this post. Please share this post with your friends and family.
- 1 Verasity ICO
- 2 Pros
- 3 Cons
- 4 What is Verasity?
- 5 How Verasity works to solve online video platform problems?
- 6 Key points of Verasity?
- 7 What is Verasity Proof-of-view (PoV)?
- 8 ICO Deatils
- 9 Token Distribution
- 10 Conclusion