Verasity is developing a next-generation video sharing platform. This platform will empower Creators and improve the experience of watching video online.
The “VERA” token
It 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 people choose to watch adverts or share the videos with their network, people 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).
– 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.
Verasity fundamentally changes the online video ecosystem and economy in the following ways:
1. Verasity has developed a patent pending “Proof of View” system, enabled through blockchain technology, to provided accurate, secure and auditable audience metrics.
2. Verasity disrupts the commercial dynamic of the traditional media ecosystem by making Viewers the center of all content transactions, and making the transaction direct between the Viewer and other participants in the ecosystem such as Content Creators and Advertisers.
3. Due to these direct relationships in the Verasity ecosystem, the success of content is determined by the organic consumption/valuation of the content by the viewer community, rather than being influenced by the monetization strategy of a third party.
4. Verasity encapsulates the whole video sharing ecosystem and economy, for all participants. This results in all value exchange being retained within the economy and community.
5. Through the Spark Marketplace, all participants within the economy can provide funding to content channels in exchange for a portion of the channels future revenue. As a result, both active participants within the economy and Speculators (outside of the economy) have additional ways to grow the ecosystem and benefit from its growth.
Content Management System (CMS)
The Verasity CMS will be easy to use for Creators to publish and manage their videos. This includes both an online and desktop based upload and management suite that enables Creators of all sizes to effectively run their content libraries. With multiple monetization options, the Verasity platform enables multiple types of content to thrive, from niche technical videos through to feature films. The Verasity CMS was designed to cater to the individual.
Verasity Blockchain Technology
Verasity utilizes blockchain technology to enable a transparent, accountable and effective solution to many of the challenges within the video sharing economy. The key elements to Verasity’s Blockchain based technologies are:
1. Verasity High Performance Blockchain
2. VERA Transactions
3. Proof of View
The Verasity platform and economy is powered by VERA which is a utility token that functions as a medium exchange between participants within the Verasity ecosystem. New VERA supply will be minted and distributed to the community based on both the organic growth of the platform and governance via the velocity of money as explained below. VERA will be purchased by users and investors, which will drive the value of VERA. Please note: the ERC20 VERA Tokens created and distributed on the Ethereum Network are for the purpose of an initial Token sale only and will fund the development and adoption of the Platform. Once the Platform is 26 live, these tokens will be replaced by VERA running on the Verasity Blockchain on a 1:1 basis. The supply of the ERC20 VERA Token is 12,491,500,000. More information can be found regarding the VERA token sale (the “Token Sale”) at www.verasity.io/.