VRA Crypto: Understanding Verasity
Verasity’s VRA crypto price today is $0.00538, with a 24-hour trading volume of $11.53 million. VRA crypto has lost 2.83% in the previous 24 hours. It is currently -19.66% off its seven-day all-time high of $0.006696 and 14.76% off its seven-day all-time low of $0.004688.
VRA crypto has a circulating supply of 4.47 billion and a maximum supply of 10.36 billion. Verasity provides compensated video player technology to big publishers and gaming developers worldwide. Within a video player wallet, the patent-pending technology enables tokenised incentives (VRA crypto) as well as loyalty systems.
The technology is already accessible for more than 500 games on the Verasity GameStore, as well as major video players that support more than two million video producers. Its SDK products interface directly with publishers, requiring neither publishers nor users to alter their processes or habits. According to the company, this boosts engagement and income by 35%.
What is Verasity (VRA)?
The attention-based approach of Verasity generates a VRA crypto token market between viewers, video and game creators, and advertising. It also has a built-in fiat gateway solution in the form of VeraWallet. Verasity B2B products provide SDKs for the following video players on publisher sites: YouTube, Twitch, Vimeo, JWPlayer, Brightcove, iVideoSmart, Kaltura, VideoJS, Flowplayer, and Ooyala, which account for more than 95% of all video players used. Proof of View (PoV) is in the works.
Verasity technology has obvious applications in both the advertising and video-on-demand markets. Global digital ad expenditure reached $455 billion in 2021, with a forecast increase of $70 billion to $525 billion in 2022. Advertising spending globally is expected to exceed $645 billion by 2024, representing Verasity's addressable market.
However, up to 40% of this ad expenditure is wasted due to ad fraud. Verasity seeks to address this issue. VeraViews will primarily guard against fraud in the multibillion-dollar Video Demand sector.
In 2021, a global poll of weekly video content watching patterns discovered that 63% of respondents utilised VoD services either through paid streaming or through online publishers each week, compared to only 30% on traditional cable or satellite television channels. eSports accounted for 27% of respondents' weekly video streaming.
According to analysts, VoD services will produce $120 billion in income in 2022. For the first time, video ad placement will account for more than half of all ad expenditure in the United States, the world's largest advertising market.
Finally, it is anticipated that 2.298 billion users will have access to or a subscription to some sort of VoD service by 2026, representing a whopping 29% of the world's population. That demonstrates the magnitude and future potential of the industry Verasity is entering.
Verasity can tap into the ad business and the larger consumer market through NFT-based assets. Emergen Research has forecasted that this will reach $3.5 trillion globally by 2030 as NFTs are used by corporations and to verify digital ownership across a spectrum of assets.
Bots devour up to 40% of the $455 billion ad expenditure rather than people. That amounts to many billions of dollars in squandered advertising by businesses and marketers, who frequently just reduce the number of commercials they run or reduce advertising budgets to offset their losses. More than two million video producers are dealing with the issue that companies are no longer willing to spend as much for ad space since there is no reason to assume that individuals see their adverts.
Verasity, on the other hand, identifies ad fraud as it occurs. VeraViews uses more than 200 touch points and AI to assess whether a bot or human is watching an ad or content based on the viewers' behaviour in real-time. Ad fraud is recognised and eradicated instantly, rather than waiting for a post-delivery fraud investigation or asking for reimbursements from publishers.
The Proof of View mechanism also prohibits unscrupulous actors from using various techniques to alter view counts and viewership metrics. Multiple metrics are acquired when viewing the material during the content view evaluation step.
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Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.