Verasity ICO details
Start Date: 2018-5-21
End date: 2018-7-11
- Site: Verasity site
- Twitter: https://twitter.com/verasitytech
- Facebook: https://www.facebook.com/verasitytech/
- Github: https://github.com/verasitytech
- Reddit: https://www.reddit.com/r/verasity
- Bitcointalk: https://bitcointalk.org/index.php?topic=3208145.msg33322978#msg33322978
- Medium: https://medium.com/verasity
- Telegram: http://t.me/verasitychat
Verasity – A next-generation video sharing platform
Online video is the fastest growing medium. It is set to account for 82% of all consumer Internet traffic by 20211 and the market is worth $312 billion2. Yet the online video business model is fundamentally challenged.
With the advent of online video platforms, both video creation and consumption are more accessible than ever before. This has led to a significant increase in content production and consumption as audiences shift online for digital entertainment. However, under current advertising models, companies like Facebook and Google stand out as the winners generating $ 191.8 billion3 of net advertising revenue between them in 2017 by controlling the distribution of content and the sale of advertising.
Audiences have fast turned into a commodity. Their personal data is sold to corporations for more targeted advertising, while creators and publishers receive a percentage of revenue after the platform and intermediaries take a significant share of the advertising revenue. In recent years, content creators and online publishers have been very vocal on these issues, as the limited revenue they are generating means they are unable to re-invest into content and, therefore they struggle to maintain their channels.
With these monopolies controlling the majority of online content, they continue to turn the screw to increase margins, change algorithms that demonetize creators and decide what content is monetizable. Any competitor who sets out to challenge this status quo and gains audience attention is quickly acquired and controlled, threatening future consumer options online.
The mass adoption of AdBlock technology demonstrates the viewers frustration with the current model. Creators and publishers with strong, loyal audiences are exploring new platforms to sell subscriptions for their content, where users are happy to pay for an ad free experience, which is often an expensive route for all.
Without disruptive change, we are witnessing a race to the bottom caused by conflicting priorities between Creators, Advertisers and their current platforms.
Verasity sets to change all this. It is next generation video sharing platform is designed to liberate creators and benefit the viewer experience.
Using blockchain technology, the platform facilitates direct and transparent value exchange between video viewers and content publishers or creators. As a Foundation, revenues are retained within the economy and for platform operating costs. Verasity puts the power back into the hands of the users and content providers, creating a better ecosystem for all.
The Verasity protocol aims to power the future of digital entertainment. It will be adopted by Content Publishers, Creators and Advertisers as a replacement for traditional content monetization channels. Verasity will challenge the hegemony of the tech giants who are rapidly becoming digital cartels.
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.