What Is Verasity (VRA)? The Complete Guide 2024

What Is Verasity (VRA)? The Complete Guide 2024. In an effort to address issues with video advertising and NFT fraud, Verasity (VRA) has developed a novel patented Proof of View technology. Regardless of the industry, the Proof of View platform serves as the foundation for every one of Verasity’s product lines. The VRA token, which powers the VeraWallet on its blockchain network, is the principal means of exchange for taking part in the video economy and online variety games.

When it comes to digital content management, esports, and video entertainment, Verasity is the platform for you. Among its wares are an in-house ad stack and the VRA rewards system, the latter of which is available in the software development kits (SDKs) of every central video platform. In addition to its proprietary Proof of View technology, which combats online ad fraud through the use of blockchain-powered artificial intelligence, transparency, and immutability. As a result of Proof of View, all views recorded on the ledger are genuine, and those involved with video ads now have a reliable, central repository for all verified human views registered in real-time.

Providing dependable server infrastructure, Proof of View security functionality, and VeraPlayer—a product layer platform for video entertainment—Verasity (VRA) helps to fuel the rapidly increasing esports sector and gaming community. As part of its revised strategy for its technology, the company renamed its Esports Fight Club (EFC) platform VeraEsports on November 8. In keeping with this broader goal, Verasity has introduced a new service called “Watch & Earn” that lets users stream video, collect points, and compete on the VeraEsports website—all while marketers continue to reap the benefits of Verasity’s Proof of View technique.

Esports advertisers and fans stand to gain financially from this solution, which Verasity hopes will attract more esports lovers to the cryptocurrency market. You can watch tournaments hosted by Valorant, Riot Games, and Axie Infinity, among other top gaming companies, on VeraEsports. Additionally, it has hinted at an impending NFT marketplace that will provide gamers with content both within and outside of the game. Additionally, Verasity has added NFTs to its Proof of View patent. However, Customers and marketplaces can verify minting or selling parties and NFT conditions using this product.

As a defense against rampant fraud and manipulation in the online video ad market, the Proof of View mechanism is in place. There is an inherent need to address the issue of fraud among publishers, advertisers, and content creators, as over 65% of video ad views are fake, meaning bots influence them. However, The video views are only added to the publicly available blockchain database after being validated as authentic using the complex procedures used by the PoV system.

Access content from producers all around the world and earn rewards by watching, participating in, and creating your tournaments—VeraEsports is a next-generation platform for community interaction. Through its Watch and Earn program, which allows viewers to earn redeemable points by watching their favorite tournament streams, the platform creates new social and economic opportunities for video gamers, teams, tournament organizers, viewers, and brands in the global esports industry.

As a cryptocurrency wallet and payment gateway, VeraWallet facilitates the storage, staking, and trading of VRA tokens. Staking tokens for incentives is possible with VeraWallet, which uses cold storage techniques to maximize security. Along with Verasity and the entire online gaming community, the wallet’s popularity is on the rise, and it currently has over 250,000 members.

Verasity plans to buy VRA from cryptocurrency exchanges and then burn it at specified buyback and burn events. In the long run, this will raise the demand for the token and decrease its supply.

The VRA staking service at Verasity allows users to stake VRA. The amount of tokens staked determines the fraction of incentives earned. Until March 2022, the platform is offering a 25.5% annual percentage yield (APY) on staked tokens; however, this could be extended.

Tokens can be earned by taking part in the VRA network’s activities. If users want to earn VRA tokens, they can do things like watch videos on publisher domains or the VeraEsports website, share their content with others, and so forth.

On cryptocurrency exchanges, users can trade their VRA tokens for other cryptocurrencies. They can also sell VRA for fiat money using the VeraWallet.

The total supply of VRA tokens is 10,368,525,869, and the circulating supply of VRA tokens currently stands at 4.47 billion.

Verasity (VRA) is now trading at around $0.06178 as of Nov. 20, 2021. Its 24-hour trading volume on exchanges is around $76.5 million.

Experts predict that the esports business might reach a staggering $1.62 billion by 2024, up 50% from last year. This means there’s a lot of room for growth in any industry that even somewhat resembles the online gaming industry. The VRA token is utilized as a currency in online gaming. Since Verasity allows esports and the video entertainment business to host streams on its platform, its price has a great possibility of breaking through the $0.10 mark and could surpass $1 soon.

The price of Bitcoin (BTC) has also risen to new ATHs in recent weeks. What this indicates is that a bull run has begun in the bitcoin market. Lastly, Altcoins with solid fundamentals may see a meteoric rise to successive all-time highs (ATHs) if the market follows the pattern of past bull runs. In the cryptocurrency market, where a strong Bitcoin move can initiate an alt-coin season, the adage “a rising tide lifts all boats” applies.