What is Verasity (VRA)? - Bitfinex blog

14 Jul What is Verasity (VRA)?

Posted at 11:02h in Education by Maria Lobusova

Online advertising fraud is a major issue for digital ad networks. According to reports, digital ad fraud costs media companies an estimated US$4.5 million an hour. Verasity is a protocol and product layer blockchain platform created for esports and digital content and committed to delivering a better user experience for all stakeholders within the digital content space. Verasity’s mission is to eliminate online ad fraud and offer transparency, security and trust. Together with Bitfinex, you will be able to learn more about the Verasity project and have a chance to get a reward for participating in the ‘Verasity Telegram Takeover & Treasure Hunt’ competition. The competition description and the rules can be found here. To join, you just need to fill in the Google form. Don’t miss your chance to win!

Verasity (VRA)

Verasity is an ad tech provider delivering transparency in advertising using its patented Proof of View (PoV) technology. Verasity integrates with leading Content Delivery Networks to provide ad stack, VeraViews, eliminating ad fraud and delivering authenticity & accountability to digital advertising.

How Verasity Works

The main blockchain-based technology feature of Verasity is Proof of View (PoV). Proof of View is a patented technology module that combines advanced bot detection with a distributed ledger backend, ensuring validity during transactions and transparency in reporting & auditing.

Digital transactions pass hundreds of parameters between devices which can be analysed to identify bots (bot transactions account for the majority of fraud in advertising). Storing valid transaction details on an open ledger guarantees that deals can be completed seamlessly and trusted by all parties, reducing payment terms and making ad spend go further.

Why is Verasity Unique

In the ad tech industry, where Verasity delivers its solutions, no other project uses a distributed ledger backend to store ad campaign data. By doing this, Verasity strives to remove fraud from advertising and make the entire industry more transparent for both publishers and brands.

The unique Proof of View module utilises hundreds of metrics to evaluate user behaviour combined with a pre-screening process at the initialisation stage. This produces extensive statistical data that is AI-sorted. Proof of View can also be applied to NFTs to prevent some fraud in the NFT market today.

What is the Verasity Ecosystem

VeraViews+Proof of View — an enterprise-grade ad tech stack and patented anti-fraud solution for ad fraud prevention across video content;
VeraEsports — a leading destination for Esports content which proves and packages PoV and VeraViews technology for international broadcasters;
VeraPlayer — a proprietary video player with the unique VeraViews ad stack built to optimise advertising revenue using our ad partners. VeraPlayer is currently deployed on VeraEsports, and is available through the Brightcove Marketplace;
VeraWallet — a custodial wallet for storing VRA tokens. VeraWallet stores rewarded tokens and is a payment system providing both crypto and non-crypto payment options;
VeraVerse (NFT Marketplace under development) — a complete NFT ecosystem for art, in-game items, and metaverse collectables;
Watch & Earn — a reward system that offers users token incentives for watching video content. Watch & Earn rewards users with the VRA token via an SDK integration into the publisher’s video player.

What is Verasity (VRA) token

The Verasity (VRA) token is a digital currency created exclusively for exchanging and transferring value in the global esports, gaming, NFTs, and video economy. VRA is currently held by over 300K VeraWallet users and is listed on more than 24 exchanges worldwide. Apart from that, VRA tokens can be staked as part of Verasity’s VRA staking program and used as rewards for participating in the activities offered by the VRA network.

VRA Tokenomics

Verasity Roadmap

Q2 2022

Proof of View Live with Brightcove Customers
PoV enabled smart contracts for NFTs
NFT marketplace development and closed beta for gaming publishers
Vera Card partnership launched
VeraWallet – Automated KYC

Q3 2022

NFT marketplace MVP public launch
Introduce a platform for in-game redeemable NFT items creation, minting and sale for game publishers
Purchase functionality for Marketplace Buyers
Re-sell functionality for Marketplace Sellers
Introduce public user profiles and NFT collections

Q4 2022

VeraWallet – Website revamp
VeraEsports – New video library tagging and categorisation system
Verasity – Single Sign-On across the Verasity products – major update
Verasity – Identity and access management service for user authentication and authorisation
Verasity – Improved account security by introducing phone number Multi-Factor Authentication

Verasity Team

The Verasity team are professionals with proven track records in the media, video and technology business sectors. The majority of the core team has been involved in the project since 2017. The members of the core leadership include David Archer (Director & Legal, Verasity), Robert Keogh (Financial Director), Justin Wenczka (CRO), Elliot Hill (CMO), Sergey Molybog (CTO) and Olena Buyan (CPO).

How to buy VRA on Bitfinex

How to buy VRA with crypto

1. Log in to your Bitfinex account or sign up to create one.

2. Go to the Deposit page.

3. In the Cryptocurrencies section, choose the crypto you plan to buy VRA with and generate a deposit address on the Exchange wallet.

4. Send the crypto to the generated deposit address.

5. Once the funds arrive in your wallet, you can trade them for VRA. Learn how to trade on Bitfinex here.

How to buy VRA with fiat

1. Log in to your Bitfinex account or sign up to create one.

2. You need to get the full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.

4. Check your Bitfinex registered email for the wire details.

5. Send the funds.

6. Once the funds arrive in your wallet, you can use them to buy VRA.

Also, we have Bitfinex on mobile, so you can easily buy VRA currency while on-the-go.

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