Verasity Is The Best Attention-Based Video Rewards Model
Introduction
Verasity builds the infrastructure and tools for video publishers to serve rewarded video and loyalty programs to their viewers. Basically, you can earn VRA for watching what you already watch, like how Brave monetizes attention for its users.
Essentially from what I’ve gathered, it’s like Brave, but for videos. Also, it can work on Brave so you can earn BAT and VRA at the same time for anyone who is working with them. Anyone can apply if they publish on many sites like YouTube, Twitch, Vimeo, and more. I hope to see it expand to work with other alternative platforms like BitChute, Minds, BitTube, LBRY, etc. It works on top of any of these videos and just adds a simple little trophy icon that will turn green when you are done allowing you to earn VRA.
I think this is great for users and creators because you can buy a large amount and run a campaign to incentivize full play-through and encourage more viewers to watch and be rewarded for their time at a low cost to the advertiser (for now). You won’t earn an insane amount, but as they grow, and more and more people use it naturally the value will go up and then it will be much more relevant that you had earned some.
After you watch the video and it does turn green and you claim it, you then receive the rewards on your rewards account which is separate from your wallet. You’re earning based on what the advertisers have put up for the campaign which will run until it’s out so naturally, you’ll want to watch what you want to before you miss your chance to earn for it. Below you can see I earned 10 VRA for the video I watched
I waited to buy a bunch of VRA after July 20th because Verasity is holding a contest on Binance DEX which is timely in line with this article. Also regarding Binance DEX, I recommend using as well for a great decentralized exchange that is also made by a trusted source. I also use Rudex. Anyways, this contest is going to be big, they are giving away 500 BNB + VRAB staking spots which they will launch soon. The contest runs from July 20th to August 21st. Given I am participating in the contest, this is somewhat to my own detriment to share with you, but if you all participate the value will go up anyhow. Check it out here: https://medium.com/verasity/verasity-trading-contest-on-binance-dex-500-bnb-10-vrab-staking-spots-to-give-away-37f5a15e65e8
They also have a great section that shows you exactly what to do on their Earn VRA tab: https://verawallet.tv/earn-vra
I’ll be buying more as I’ll need 100,000. Earning 0.1% interest daily and only having to wait 3 days for the lockout period, I’m all for it! I’ll be earning via stake as this earns more value from wider adoption. By the way that means 36.5% annually! In just a few years, you could double your investment, wow.
On the earn page you can also see the current campaigns running and ones that have ended to get an idea of what out there currently.
They’ve also partnered with Keyi store and eBonus.gg, for now, to earn more rewards and have a place to spend them directly if you should so choose to. They will continue to work with more providers and expand their partners too. Currently, that means you can buy video games, clothing, accessories, gift cards, and an array of digital items.
This is where you can go to sign up to start growing your audience: https://verawallet.tv/grow-your-audience
Currently, you need your own domain to apply functionality with YouTube or any of the major video applications, but soon enough I expect them to integrate more fully with the sites themselves or with an extension or some workaround.
Note that you need to have a wallet and separately sign up for the rewards program. You can grab your wallet here: https://verawallet.tv/
From there you can fund campaigns, earn, stake, send, and spend your tokens.
Their site is really packed with information for you as well and considering the price as of writing this is only 0.000679 I’m really excited to see where this token goes. It’s sitting nicely at rank 628 on CoinMarketCap as of writing this, which is great for a new coin and a perfect time to buy in especially with the contest!
https://coinmarketcap.com/currencies/verasity/?utm_medium=widget&utm_campaign=cmcwidget&utm_source=coinmarketcap.com&utm_content=verasity
I want to utilize the information and graphics they must explain how it works because they do an amazing job and we don’t have all day to go through the whitepaper. If you do want to check it out though it’s here: https://verasity.io/documents/verasity_whitepaper_eng.pdf
They’ve also been getting a lot of coverage in the news like when they switched from the Ethereum network to the Binance Chain as well as many major publications explaining it similarly to this article and video now.
They are aiming to solve the issue of intrusive and invasive advertising leading users to block ads that hurt the creators and advertisers. By awarding users for their time and attention, they are more incentivized to view ads and watch content all the way through which helps advertisers and creators. Not only will this help creators boost engagement, but then you’d also be able to donate to them in the future to help with their campaigns without having to spend any money, just some of your attention on a few ads like the way the Brave browser operates with $BAT. So, one thing to note is the difference between creators boosting and advertisers. Creators will pay you to finish their content all the way through whereas you can also enable ads and earn more VRA for doing so. The advertising money earned from these ads will then be used to buy VRA back from people on exchanges thus keeping its value and trade volume up, as well as ensuring that you are able to sell off your VRA. This will also help creators earn more money, so everyone wins with this model.
Verasity.io
Let’s really dive into it now, they have a lot of information on their page and some great graphics to help explain the problem they are solving and how they solve it as well as all the technical aspects and the model behind the token.
Thee are the 6 major issues people are dealing with when it comes to monetizing their videos as a user and a creator. Users deal with intrusive ads, privacy violations, and lack of incentive. Creators have low revenue, blocked ads, low engagement, and a low ROI.
Verasity wants to solve this by adding VRA rewards to all major video players and integrating the reward model into the platform seamlessly. You’ll be able to use your VeraWallet as an in-video application and the pending new model for verification to ensure authenticity and legitimacy called “Proof of View.” This effectively is meant to solve the issue of people not wanting to leave their major platforms and creators not being able to work outside of their major platforms.
This cycle shows how the cycle works to continue the flow of VRA moving and being traded throughout its roundabout cycles.
They have an amazing roadmap that details what is in the works and what they’ve managed to complete already.
They also have a lot of big partners and investors and I’m confident in where they are headed. I’m surprised the value of the coin is so low currently and I expect it go up that’s why I’m personally getting in now and joining the contest.
The last coin I looked at in its earlier stages was NRG which since went up over 10x within 7 months of my review literally titled “Energi Is On The Come Up” where it went from 0.70 to 9.30 or so. I foolishly sold it before the major boom, by my point is that I don’t recommend coins lightly, however, I don’t necessarily recommend you do anything with your money, but rather I present to you the same information I have at hand and let you know why I am investing.
I think attention-based tokens like VRA and BAT are going to be leading the charge for monetizing your time and attention and empowering both the viewers and the creators. I hope to see more from Verasity and more projects like it!
This is a great similar article written by Blockonomi if you think I missed anything here or you just want another take: https://blockonomi.com/verasity-video-rewards/
Or this great medium article by @CryptoAmie - https://medium.com/@CryptoArnie/video-streaming-on-the-blockchain-the-little-video-player-that-could-ef0f7be64821
You can trade VRA on:
Binance Dex: https://www.binance.org/en/trade/VRAB-B56_BNB
HitBTC: https://hitbtc.com/exchange/VRA-to-BTC, https://hitbtc.com/exchange/VRA-to-eth
STEX: https://app.stex.com/en/basic-trade/pair/ETH/VRA/5
DCoin: https://www.dcoin.com/currencyTrading/VRA_ETH
CoinSuper: https://www.coinsuper.com/trade?symbol=VRA%2FBTC
CoinAll: https://www.coinall.com/market?product=vra_btc
Shortex: https://shortex.net
Follow them on social:
Medium: https://medium.com/verasity
Twitter: https://twitter.com/verasitytech
Website: https://verasity.io
Telegram Token Discussion: http://t.me/verasitychat
Telegram Token Announcements: https://t.me/verasity
Kakao: https://open.kakao.com/o/gh8ZK0cb
Facebook: https://facebook.com/verasitytech
LinkedIn: https://www.linkedin.com/company/verasity
Reddit: https://www.reddit.com/r/verasity
Blockfolio Signals: Follow VRA/VRAB to receive updates straight from the team
Check out all my social platforms and relevant links
Feel free to donate to me to help keep me going:
ETH: 0xE0d930a0aa8e57e037D749a868ade5682a34e88e
BTC: 3Bh49RK9GM6Q15a6q13MMfvMbrWihJMast
LTC: MRLLJe9Fywxq1f9ehjDDZNT8ar7MKx3ZS1
paypal.me/scottcbusiness
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Oh brother really it is touch my heart.Superb post I love so much
Thanks so much! Let me know if you end up using Verasity to earn VRA
Great post
Thanks mate
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you are a true force! Thankful every day for you and your brain. Great post.
Do You Like TO Help Me Onlu one Time Beacuse My Account RP Is Not Increase .
Please Upvote Me All Friend Only One Time .
I am very Thankful To All Friends .
Thanks for popping by :)
Not so arrogant good.You do not forget it That you have reached this level with the help of someone else.
Don't Mind I Tell Just Lie.
I am always indebted to my followers and work for them
ok thanks
hi @scottcbusiness loved your interesting posts please help me out by following back and upvoting me @zainkhan97.
Thanks for your support
Slightly hard not to. Did you read/watch it? It's almost 40 minutes long and 1500 words or so
I appreciate the reply. It's not a reflection on the amount of work or content length. It's a reflection of how much value you are extracting from the blockchain in relation to everyone else. It is a common resource or commons if you will. People put in just as much work if not more and get less than 1$. I am claiming it back and redistributing it to them. I prefer to let people know and educate them if possible, because the system was designed to be used in this fashion.
If only I could spell personally as well as I can articulate my intentions :-)
PS, my personal policy is to not consume content whose discovery has been manipulated by bid bots.
Good luck on your project either way.
That's fair. I've come to accept bid bots as a natural means of boosting your content. If it's spam, it will get downvoted and you'll lose a ton of money. If it's decent enough, then you just get some more visibility. You still have to risk a lot to use a bid bot and spam, plagarism, and low quality content won't survive anyway. That's my take.
I'd also argue that it's definitely not often that people write up to 1500 word articles with an accompanied fully edited 40 minute video fairly well produced that is comprehensively going through something teaching people about it
You are led to believe that because there is a large codebase supporting it, that it's natural.
It's the opposite of natural, it's inorganic voting by definition and severely distorts the natural content discovery mechanism. There is a large cadre of individuals who share the same opinion and I have spoken to many of them, however many feel is there is danger in getting on the wrong side of people with millions of SP trying to protect their income. If you find me with a rep of zero at some point, their fears would have been correct. As an investor I happen to care more about the underlying price of STEEM and health of the ecosystem than rep, so bring it on.
Additionally, if those votes had been organic, more than likely you would have earned every penny. If human whales or curation guilds of similar size to bid bots, actually took a look at your post, and move that slider to 100, I'd have nothing to say about it.
Great discussion in any case, and I appreciate your willingness to do so.
99% of existing social platforms have some way to boost. Promote doesn't work on here, so people found a way. You say it's not natural, but as a marketer of 6 years, I see it inevitable. I do appreciate you leaving your 2 cents since you down voted though and the discussion as well. I wouldn't mind if there were a better bid system where you submit a base fee and they review and then give you a reward based on the review, but it's geared for profit like any advertiser is. I don't approve, but I don't neglect what everyone else will be using. Again I don't' support facebook, but say you disagree with advertising for your page there, well then 90%+ of your audience won't see your content and good luck getting new followers with that reach. Even with a verified page myself it barely gets anything without ads. The point being, that if a large portion of people are using some sort of promotional system, then subsequentially it is very challenging to compete without participating. Also, given there's no actual rules or guidelines, everyone enforces their own values ad-hoc. There is no real reason why anyone should assume that bid bots aren't approved of to begin given every platform has some means to promote content and it would make sense to look for something like that. I get why people don't like it, it would be 100000x better if we could just burn Steem to promote which would also help the value and the reviewer gets a tip.
Thanks, I understand your concerns and the need for some sort of promotional system. I'm just not sure the reward pool is the correct mechanism for that. Burning STEEM for promotion is a great concept, also a transaction between the individual front end and the promoter to get placed on their home page as well might work. A system where the content is marked as promoted and prominently displayed without bids, would also create an income stream for the front end.
You are correct about values. At the end of the day, I want to view how a post is rewarded proportionately. I am not required to recognize a transaction that you have made with a third party to get that reward.
My point is that no one can change or learn or rather no one will based on randomly enforced ad hoc rules that aren't public or consistent though, that's the issue. I remember a long time ago Bernie downvotes me a lot of using "steemit" as a tag in a post and at the time I genuinely thought that any post on the steemit site could have that as a general tag. He insisted based on his ruling that only posts about Steemit can use that tag and he would punish any successful posts that end up there and aren't about Steemit
Valid points! At the end of the day we are all sovereign actors on this blockchain who try to influence others with words and votes. The receiver of such words and votes is sovereign too. Sovereign in his or her right to respond to those words and votes in the manner in which they see fit. Unlike traditional social media who centrally sets the rules, there's a bit of anarchy here. There's no central authority to appeal to, and I'm 100% fine with that.
In a way you have to look at it with fresh eyes, as nobody is going to codify the 'official rules of Steem' for you. The closest thing we have are groups of people with varying stake attempting to exert influence as I have just done. If you're not in agreement, that's fine. You just have to accept that all rules here are ad-hoc for the most part, and the worst case is that we as honest actors both walk away with a differing perspective.
Agreed, glad we could both rationalize our positions productively
The point being, that it's wrong to make the same mistake, just because all the others do it. Be decent, be interesting, use bidbots but don't exaggerate it like you do on this post. Nobody likes trending to be a page of advertisement.
Okay, that's fine and fair
This is a paid promotion. It's not teaching, it's an advertisement. The 40 minute video is an infomercial. I can't take anything you did here seriously because I'm under the impression you were paid to say it. This is paid programming.
Well I invested in it so it helps to spread the word because I believe it will do well and benefit people cause they could earn it free like Brave. Sorry you feel that way
"Visibility." "Invested in it." You're parroting the bidbot sales pitch.
The fact is, you spent money to make this work appear to be popular. It's a promotion disguised as trending content.
Please, dude. Have a good hard look at the comments here.
That's from a rep 25. Total noob. He thinks you're rich and famous and can help him so he's kissing your butt.
Same thing. 100% disingenuous.
Spam. Might even be a robot. Low rep. Thinks you're popular.
Another one who didn't pay attention, just kissing your butt, thinks you're rich and famous and can help him.
There's more. You can see it.
My previous post is sitting number one on a trending page, and top 10 on another trending page.
Post before that is also sitting high on at least two trending pages.
Compare the results. Read both of them. Have some fun here. I don't mean to be confrontational. I just think you can do better, organically. This Steemit trending page is some of the shittiest real estate nowadays, because of the bots and how they ruined the credibility and reputation of said trending page. You have 42 views on that youtube video, one is mine. "Visibility." There are better ways.
I appreciate you putting so much time into going through this, thanks! I can see you just want the best for Steem and that's fine by me. The YouTube video was a backup, the DTube video is front and center, but not tracking views sadly
Damn man you never stop #inspiration 💪💪💪
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You know it my friend!
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well done my friend ...
Thanks!
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Great!
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Cheers :)
Congratulations @scottcbusiness!
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Your post sparks my interest for this verasity. Thanks for the info! 👍
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Always happy to share!
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Super hard to use, I made an account and tried the actual Links on the Sites and had a lot of troubles... this Project not even half toasted.
Well more people need to join and when they get an extension it will be seamless