Verasity – Combatting advertising fraud
Fraud in online advertising is a major headache for media companies. One platform dedicated to fighting it is Verasity, the protocol and product layer blockchain committed to a better user experience for everyone in the digital content space.
By offering security, transparency, and trust, Verasity hopes to eliminate online ad fraud.
How does Verasity work?
Using Proof of View (PoV) technology, Verasity delivers transparency in advertising. Leading content delivery networks integrate VeraViews as they attempt to eliminate ad fraud and bring accountability and authenticity to online advertising.
PoV is patented technology combining a distributed ledger backend with advanced bot detection. The fact that transactions are stored on an open ledger blockchain ensures that the transactions are valid and that there is transparency in reporting and auditing.
When digital transactions happen, hundreds of data points are passed between devices. These can be analysed to identify bot involvement. Bot transactions are responsible for the majority of online advertising fraud.
Verasity has its own digital currency, VRA, which was designed for exchanging and transferring value in areas such as eSports, online gaming, NFTs, and digital videos. It is listed on more than two dozen cryptocurrency exchanges and held in more than 300,000 VeraWallets.
VRA can also be used in Verasity’s staking programme and utilised to pay rewards to those participating in the network.
An entire ecosystem
The Verasity ecosystem encompasses a wide range of features and tools for online advertisers.
The primary offering, VeraViews, is an ad tech stack using the patented PoV tech to detect and prevent fraud in the deployment of video content by identifying bot results that artificially inflate viewing figures.
Verasity also has its own video player, VeraPlayer, with VeraViews built in, which promises to optimise advertising revenue for its partners. It is deployed on the eSports offering, VeraEsports.
Verasity has its own custodial wallet for storing the VRA tokens mentioned earlier. It not only stores the tokens, but acts as a payment system supporting crypto and on-crypto options. Among the ways users can earn VRA is through the Watch and Earn mechanism. This is a reward system paying users token incentives for watching video content.
And Verasity is part of the NFT industry with the VeraVerse marketplace, described as a complete ecosystem for NFTs, including in-game items, art, and collectables.
Who is behind it?
The longstanding involvement of key team members, such as David Archer, Robert Keogh, Justin Wenczka, Elliot Hill, Sergey Molybog, and Olena Buyan, built confidence among users and investors.
The team members are seen as professionals with established track records in relevant sectors, including media, video, and tech businesses.
VRA price prediction
Price predictions for the VRA token suggest solid, if not stellar, increases.
Analysis by AMBCrypto looked at the possible price trends for this year as well as looking even further into the future.
It suggested that by next month the average value will be $0.014, with a possible high of $0.015. Early next year, VRA could see that average increase to $0.015, with a high of $0.016 in February, the site said.
The same value range is suggested for the remainder of this year, with prices ranging from $0.014 to $0.016 in November and December.
Studying historical data, platform developments, and investor/community sentiment, AMBCrypto was able to make predictions about the VRA value longer term. It suggests slow but solid increases in the token’s value.
For 2024, the site predicts values ranging from $0.011 to $0.017, with an average of around $0.014. A marginal increase is forecast for the following year, with an average of $0.018 and prices ranging from $0.014 to $0.022.
This trend of marginal value increases is predicted for the rest of the decade, with averages of $0.023, $0.029, $0.037, and $0.046 in 2026, 2027, 2028, and 2029 respectively.
Could VRA reach a dollar?
The AMBCrypto research suggests that VRA reaching a value of $1 is a long way off.
Looking ahead to 2030, the average price is predicted to be around $0.059. While this could increase to $0.074 in 2031 and $0.093 in 2032, markets may have to wait until 2033 for the average price of VRA to hit $0.11, when the price range is expected to be between $0.094 and $0.14.
The site predicts another increase in 2034, hitting an average of $0.14, still well below the $1 valuation investors will be hoping for.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.