What is Verasity (VRA)?

There are a large number of projects that seek, in a decentralized way, to reward users for watching advertisements. But, none do it from the multiple approach of Verasity.

Fraud in the world of advertising is extremely common but difficult to tackle. Verasity’s project starts from this hypothesis, trying to find a solution to this intricate problem.

Both advertising consumers and advertisers may be attracted by this project, which also seeks to guarantee the validity of NFTs and insert themselves into the gaming world through its “proof of view”.

In this article I tell you what this ambitious project is all about.

In short, what is Verasity?

Verasity is a decentralized platform, built on the Ethereum blockchain, that seeks to solve the problem of fraud in advertising and NFT, while promoting the empowerment of the online gaming economy, advertising and digital content.

As I mentioned at the beginning and as evidenced in this definition, this is an ambitious team. The objectives set out in this protocol have been taken into account on more than one occasion by projects that have not achieved massive success.

So where does the team behind Verasity derive its exalted confidence from? This wellspring of confidence stems from their most important innovation, around which all aspects of this platform revolve and which they decided to call “Proof of View” (PoV). That’s right, a new “Proof” for learning.

Before understanding this solution that Verasity developed to prevent ad fraud, let’s first understand what it means.

What is advertising fraud?

There is nothing better than to take a look directly at some examples of advertising fraud provided by the Verasity team:

• • Repeated and automated display of videos, to increase number of views
    
  • Upload several videos in parallel
    
  • Loading videos in hidden windows or tabs
    
  • Manipulation of analytical data, without looking at content
    
  • Direct alteration of view databases

This type of situation is estimated to occur with about 40% of the advertising content on the Internet. This is undoubtedly too high a percentage.

Now that we know what they intend to solve, let’s get to know that and understand how this standard works.

What is Proof of View: Verasity’s secret weapon?

The “Proof of View” standard was exclusively designed to avoid the aforementioned cases of ad fraud. Equipped with 200 touch points, plus Artificial Intelligence, it allows you to differentiate with a high degree of confidence whether it is a bot or a human who is watching an ad, based on real-time consumer behavior. 

This technology allows detecting suspicious behavior and taking action at the moment it is being detected, to check if it is a true visualization.

This gives us a first great benefit, fraud is detected and eliminated at the time of occurrence. On the other hand, by collecting the visualization data in real time, subsequent manipulation of the data is prevented.

At the moment in which the visualization is verified to be true, it is included and immortalized in the Ethereum blockchain. Which leads us to define that, in addition to being publicly verifiable, these visualizations are anonymous.

It is not minor, to know that Verasity’s code will be published in its GitHub, so that anyone can check it and it will provide free tools for different platforms such as:

• • YouTube
  • Twitch
  • Vimeo
  • JWPlayer,
  • Brightcove
  • VideoJS
  • Kaltura
  • FlowPlayer
  • iVideoSmart

It is through a “Software Development Kit” in JavaScript that the aforementioned tools can be integrated.

What does Verasity offer us?

After a good overview of the technology behind the platform, we can focus on the different options it will have to offer to its, undoubtedly, varied user groups.

Powered by its “Proof of View” standard, let’s move on to unravel the trio of products Verasity is offering.

• ESPORTS

Under the name VeraSports, the platform will offer a new concept in terms of incentives to be part of the group of online sports viewers. Thanks to the “Watch and Earn” program.

VeraSports will organize tournaments in which participants and spectators will receive rewards in the platform’s token, identified with the ticker VRA. It is a token created under the ERC-777 standard, pointed out by many analysts as the natural replacement for ERC-20 tokens.

This section will allow players and their teams to compete or create their own tournaments. It will be important to build a “brand” identity and connect with your fans.

One of the ideas, soon to see the light of day, following the roadmap duly created, is for these teams to develop their merchandising and offer them in the form of NFTs.

Collaborations with Riot Games or Nimo TV, augur a prominent future for this section of Verasity.

• ADTECH

The founding idea of the application. Thanks to the “Proof of View” standard, the platform will be able to guarantee a real audience for the content generated and only pay for the content actually consumed.

I will explain how Proof of View works. First of all, we check if the user is already known to the platform and review their history. As a next step, their behavior is analyzed, without affecting the user’s experience.

Then, while the content is being developed, the data from the previous phases are analyzed. Taking into account the score obtained, the artificial intelligence of the application makes a decision, “the visualization is real or fake”.

Whenever it is a valid interaction, it is registered in the blockchain and transactions are made. The content creator sends its VRAs, while the viewer receives a portion of them. If it is determined that the display is false, it is discarded.

• NFTS

At this point in the article, it is really noticeable that in each of Verasity’s products, there is an underlying pursuit to achieve data veracity. After developing the products mentioned above, they wanted to go a step further and prevent fraud in the NFT world.

Of course, “Proof of View” has the necessary versatility to provide the platform with this interesting functionality.

Problems detected 

The Verasity team identified 5 specific categories with respect to fraud in NFTs, which I list below:

1. Selling someone else’s legitimate NFTs
   
2. Attributing NFTs to legitimate brands without consent
   
3. Duplicating NFT listings on multiple sales platforms
   
4. Failure to sell due to lack of buyer funds
   
5. Removing access to content after the sale of a CFN

The solutions provided

Through Proof of View technology, Verasity will provide the following solutions:

1. Verify the origin of the NFT
   
2. Verification of the authenticity of the seller
   
3. Validation of the authenticity of the platform on which the art is traded.
   
4. Provide secure storage of these, with a system hosted on “cold-wallets”.

The security measures of the protocol and its open source code will bring peace of mind to its users.

Who is Verasity aimed at?

It is evident that the benefits of this platform and its powerful technology can benefit both groups involved in this type of activities.
Let’s take a look at some examples.

Regarding advertisements, content creators will not pay for fake reproductions, which are not watched by real users. But users, too, benefit from receiving advertisements that have not been disseminated by bots.

On the other hand, verifying the veracity of the NFTs will benefit both the creators of the NFTs and those seeking to acquire them. Scams will be avoided, which will protect both ends of the relationship. New win-win situation.

In last place, but not by a matter of importance, we find the incentives to e-sports tournaments. Here it is extremely simple to find the “new” beneficiary in the equation, the spectator, who receives rewards for watching these competitions. While organizers and players, too, will be rewarded.

It is logical to understand that this platform contemplates each of the stakeholders within its incentive programs.

A reflection on Verasity

After having understood the problems that this application solves, it is extremely easy to appreciate its existence.

To achieve mass adoption, the biggest challenge facing the Verasity team is to make us, as users, aware of how these situations, which we ignore on a daily basis, affect us. If we do not ignore them, perhaps we are unaware of their cause.

In conclusion, I can say that the success of this application will depend on an effective awareness and communication campaign. The technology is ready.