Verasity

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Discover Verasity's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Verasity?

Verasity (VRA) is a cryptocurrency that powers the Verasity ecosystem, an open-ledger platform focused on bringing trust and transparency to digital advertising and payments. The token is used for funding ad campaigns, within the VeraWallet, and as the basis for VeraPay. It operates on the Ethereum blockchain and is not mineable, but users can earn VRA through staking and participating in the platform's activities.

How is Verasity used?

Verasity (VRA) is a cryptocurrency that powers the Verasity ecosystem, which includes various products and services focused on the online video space, esports, gaming, and NFTs. Here's how VRA is used:

  1. Rewards for Viewers: Viewers can earn VRA tokens by watching videos, sharing content, referring others, and engaging in other activities on the platform. These tokens can be traded for other cryptocurrencies or used to purchase goods and services within the ecosystem.

  2. Advertising and Monetization: Publishers can use VRA to fund ad campaigns and reward viewers for engaging with their content. This incentivizes viewers to watch videos, generating traffic and increasing engagement on the platform.

  3. Staking and Trading: VRA can be staked as part of Verasity's staking program, allowing users to earn additional tokens. It can also be traded on various exchanges, providing a means for users to buy and sell the token.

  1. Payment and Wallet: The VeraWallet is a custodial wallet that stores VRA tokens and provides both crypto and non-crypto payment options. This allows users to manage their VRA holdings and use them for transactions within the ecosystem.

  2. NFT Marketplace and Esports: VRA is also used in Verasity's NFT marketplace, VeraVerse, and in the esports platform, VeraEsports, where it facilitates transactions and rewards for users.

Overall, VRA is the central token that enables the functioning and growth of the Verasity ecosystem, fostering engagement, monetization, and a fairer online economy.

How do I store Verasity?

To store Verasity (VRA) tokens, you have several options:

  1. VeraWallet: This is a proprietary wallet designed specifically for VRA tokens. It offers a simple and secure way to earn, buy, store, and stake VRA. VeraWallet is known for its industry-leading security and cold storage, ensuring your funds are safe. Additionally, it provides a 15% staking reward per year.

  2. Ledger: Ledger is a popular hardware wallet that supports VRA tokens. You can store your VRA on Ledger and manage it through Ledger Live. This option is considered secure as it keeps your private keys offline.

  3. MetaMask: MetaMask is a web-based wallet that supports VRA tokens. You can add VRA to MetaMask like any other ERC-20 token, allowing you to manage your funds directly within your web browser.

  1. Other Wallets: Other wallets that support VRA include Trust Wallet, imToken, Torus, Coinbase Wallet, TokenPocket, and iToken Wallet. These wallets offer varying levels of security and convenience.

When choosing a wallet, consider factors such as security, convenience, features, and fees. It is essential to keep your private keys secure to prevent hacking and ensure the safety of your VRA tokens.

How to buy Verasity?

To buy Verasity (VRA) tokens, follow these steps:

  1. Choose an Exchange:

    • Centralized Exchanges (CEX): Select a reliable CEX like Binance, KuCoin, Gate.io, or HTX Global. Ensure the exchange supports VRA and is available in your region.
    • Decentralized Exchanges (DEX): Use a DEX like 1inch, which supports the blockchain where your wallet is located.
  2. Set Up a Wallet:

    • Trust Wallet: Download and set up a Trust Wallet, which is compatible with the Ethereum network. You can download the wallet via Google Play or the iOS App Store.
    • Other Wallets: Alternatively, use a wallet like Maiar, which is supported by Transak.
  3. Buy ETH (Base Currency):

  • Binance: If using Binance, buy ETH as your base currency. You can refer to the "How to Buy ETH" guide on Binance.
  • Other Exchanges: If using another exchange, follow their process for buying ETH.
  1. Send ETH to Your Wallet:

    • Binance: Withdraw the purchased ETH to your Trust Wallet by setting the network to Ethereum and providing your wallet address.
  2. Connect to a DEX:

    • 1inch: Connect your Trust Wallet to 1inch by using your wallet address. This will allow you to trade your ETH for VRA.
  3. Trade ETH for VRA:

  • 1inch: Select ETH as the payment and VRA as the coin you want to acquire. If VRA doesn’t appear, find its smart contract address on Etherscan and paste it into 1inch.
  1. Swap and Complete:
    • 1inch: Click the Swap button to complete the transaction. Ensure you have the official contract address to avoid scams.

Alternatively, you can use Transak to buy VRA directly with fiat currency (credit card) in five effortless steps:

  1. Select Fiat Currency: Choose your fiat currency and enter the amount you want to spend.
  2. Choose Payment Method: Select a payment method and see the equivalent VRA amount.
  3. Input Wallet Address: Enter your Verasity-supported wallet address.
  4. Verify Information: Login with your email and verify your information.
  5. Complete Payment: Complete the payment using leading payment methods like credit cards, Apple Pay, or Google Pay to instantly receive VRA in your wallet.

For a more detailed guide, you can refer to the specific exchange or service you are using.

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History of Verasity

Verasity (VRA) is a blockchain-based project that was founded in 2018 by a team of seasoned professionals, including John Rankin, Adam Simmons, Chris Gale, and David Rowe. The team has a strong background in media, technology, and blockchain, with notable achievements such as developing the popular mobile app Talking Tom and founding successful companies like Odyssey Mobile.

Verasity was conceptualized in 2017, and since its inception, the core team has remained consistent, working together for several years. This continuity has allowed for a unified vision and consistent approach to problem-solving, contributing significantly to the project's success.

In 2021, Verasity received a U.S. patent for its Proof of View (PoV) system, a proprietary technology that verifies and records every single ad view in real-time, ensuring that views are authentic and providing stakeholders with a trusted source of truth for capturing verified human views.

The project has made significant strides in the digital advertising industry, offering a suite of products and technologies designed to optimize the value of advertisements for stakeholders. Verasity's ecosystem includes the Proof of View platform, which utilizes AI and machine learning to enhance the effectiveness and efficiency of its solutions. Additionally, the project has launched products like Esports Fight Club, which provides a space for gamers to compete, earn VRA tokens, and interact.

Verasity's native token, VRA, operates on the Ethereum blockchain and plays a central role in the project's ecosystem. The token can be used for various purposes, including trading, staking, and participating in the platform's staking program, which offers daily rewards to VRA holders.

Throughout its history, Verasity has focused on combating advertising fraud, facilitating accessible infrastructure for publishers and advertisers, and incentivizing users for their engagement with video content. The project has also established partnerships with key players in the ad tech industry, such as StackAdapt, which could drive adoption and increase the value of VRA.

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How Verasity works

Verasity (VRA) is a cryptocurrency designed to operate within the Verasity ecosystem, which focuses on the digital advertising, esports, and NFT markets. Here is an overview of how it works:

Key Components
  1. VeraViews: This is an enterprise-grade ad tech stack that uses blockchain technology to prevent ad fraud. It ensures that ad views are authentic and provides a single source of truth for advertisers.

  2. Proof of View (PoV): This is a patented technology that verifies and records every ad view in real-time, utilizing AI and machine learning to detect fraudulent activities.

  3. VeraWallet: This is a custodial wallet that stores VRA tokens and provides both crypto and non-crypto payment options. It is also used to store rewarded tokens and facilitates transactions within the ecosystem.

  1. VeraEsports: This is a platform for esports content that integrates PoV technology to ensure authenticity and transparency.
Functionality
  • Ad Campaign Funding: VRA tokens are used to fund ad campaigns within the VeraViews advertising stack.

  • Reward System: Users can earn VRA tokens by watching video content and engaging with ads. These tokens can be stored in the VeraWallet and used for various transactions within the ecosystem.

  • Staking Program: VRA holders can participate in the staking program, which offers daily rewards for staking their tokens. This incentivizes users to hold VRA and contribute to the ecosystem.

  • NFT Marketplace: Verasity is developing an NFT marketplace where users can buy, sell, and trade NFTs using VRA tokens.
Security

Verasity ensures security through a combination of advanced automated tracking and human-led manual reviews. It also uses cold storage to store tokens, which are disconnected from the internet and other networks, making them less vulnerable to attacks.

Trading and Availability

VRA tokens are listed on several major exchanges, including Gate.io, Binance, KuCoin, and OKEx, providing liquidity and accessibility for users. They can be purchased using various cryptocurrencies or fiat currencies, depending on the exchange.

Overall Purpose

Verasity aims to bring transparency and trust to the digital advertising industry by combating ad fraud and providing a secure and rewarding ecosystem for users. The VRA token is central to this ecosystem, facilitating transactions, rewards, and staking opportunities for users.

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Verasity's strengths

The token Verasity (VRA) has several strengths that contribute to its value and potential in the cryptocurrency market:

  1. Utility Token: VRA is a utility token that enables data transfer within Verasity's ecosystem, providing a specific function within the platform.

  2. Staking Program: Verasity's staking program allows VRA holders to stake their tokens and earn daily rewards, incentivizing users to hold VRA and contributing to the token's stability.

  3. Proof of View Technology: Verasity's Proof-of-View (PoV) technology uses blockchain-powered AI to verify and record every single ad view in real-time, ensuring that views are authentic and providing a trusted source of truth for capturing verified human views.

  1. Ecosystem Integration: VRA is used within the VeraViews advertising stack for funding ad campaigns, within the VeraWallet, and as the basis for VeraPay, demonstrating its versatility and integration within the Verasity ecosystem.

  2. Partnerships and Adoption: Verasity has partnerships with key players in the ad tech industry, such as Brightcove and StackAdapt, which could drive adoption and increase the value of VRA.

  3. Patented Technology: Verasity holds a patent for its Proof of View system in the US, setting it apart from other ad tech blockchain projects and providing a unique value proposition.

These strengths highlight the token's functional role within the Verasity ecosystem, its potential for generating passive income through staking, and its innovative approach to combating advertising fraud.

Verasity's risks

Verasity (VRA) is a cryptocurrency project that carries several financial risks. One of the primary risks is the high volatility of the cryptocurrency market, which can lead to significant decreases in value or even a complete loss of value. This volatility can be influenced by various factors such as legislative or regulatory actions, government policies, and market fluctuations.

Additionally, the token's value can be affected by the project's reliance on market conditions. If the market experiences a downturn, the value of VRA tokens may decrease, leading to potential losses for investors. Furthermore, the project's financial stability is also dependent on the faith investors have in the project's management and their ability to manage funds effectively.

Another risk is the potential for manipulation in the market. Verasity's risk score, as analyzed by InvestorsObserver, gauges the token's susceptibility to price manipulation based on factors such as recent changes in volume and market capitalization. While Verasity has been given a relatively low risk score, indicating that it is less susceptible to manipulation, this risk still exists.

Overall, investing in Verasity (VRA) involves a high degree of risk due to the inherent volatility of the cryptocurrency market and the potential for market manipulation. It is essential for investors to carefully evaluate these risks and consider their own financial situation before making any investment decisions.

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Verasity’s team

Here are the key team members behind the crypto Verasity (VRA):

  • RJ Mark: Founder of Verasity, entrepreneur with experience in hardware and software development since 1996, and product launch management for over 20 years.
  • Mark Firth: CEO of Verasity, recently appointed to lead the company.
  • Robert Keogh: Member of the core leadership team.
  • Sergey Molybog: Chief Technology Officer (CTO), with over 15 years of experience in developing and implementing complex infrastructure and technical solutions.
  • Olena Buyan: Chief Product Officer (CPO), with a proven track record and over nine years of experience in end-to-end iOS and web-based app development.
  • Daniel P.: Member of the core leadership team.
  • Kyrylo Bibik: Member of the core leadership team.
  • Daniel K.: Member of the core leadership team.
  • David Archer: Director and part of the Legal Counsel, with over 30 years of experience in litigation, trust law, Not for Profit entities, Dispute Resolution, and Compliance.
  • Dan Hodgson: Head of Business Development, expert in advertising sales, and responsible for expanding the number of publishers and advertisers using the VeraViews ad stack.
  • Elliot Hill: Experienced in crypto-related PR and communications, previously led communications for Cardano.

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