Online advertising fraud is a significant issue for digital advertising networks. According to reports, digital ad fraud costs media companies $4.5 million USD per hour. Verasity (VRA) is a protocol created for esports and digital content, committed to providing a better user experience for all stakeholders in the content industry. This protocol works with blockchain technology and aims to eliminate online ad fraud with high transparency and security. If you learn more about the project, keep reading this Zatrun.com article.
What is Verasity (VRA) and How Does It Work?
Verasity is a blockchain project founded by media professionals in 2018, aiming to solve certain problems in the advertising and video industry. The project aims to increase the revenue that video content creators receive from ads. Different protocols and platforms are used for this purpose.
Verasity distinguishes real viewers and bots by using the Proof-of-View (PoW) mechanism. This protocol works with various criteria like fingerprints to verify if the person watching the displayed content, is a real human. This aims to reduce ad fraud. Additionally, the project offers various services such as wallets, a gaming marketplace, and a video player platform, serving as a fully-fledged platform in the digital content industry.
In the advertising technology industry where Verasity presents its solutions, no other project uses a distributed ledger backend to store advertising campaign data. By doing so, Verasity aims to eliminate fraud in advertising and make the entire sector more transparent for both publishers and brands.
The unique Proof-of-View module uses hundreds of metrics to evaluate user behaviour during the initial screening process, producing comprehensive statistical data ranked according to artificial intelligence. PoW can also be applied to NFTs to prevent some frauds in today’s NFT market.
Is VRA a Good Investment?
The project uses the native cryptocurrency called VRA coin and offers VRA coin rewards to video content creators and users through ads. Advertisers can also increase their ad campaigns and user engagement by buying VRA coin. The platform enables advertisers to generate revenue through real user engagement. The project aims to buy and burn some of the VRA held by advertisers in the future.
It is a significant plus for the Verasity application to be able to earn money from content on the world’s largest media platforms. We will likely see a new era in online media when media creators can earn more from their work. There are more people looking for ‘free’ media platforms for entertainment, and VRA coin has established itself as a very promising blockchain company in a rapidly growing market. However, the presence of major competitors like Theta should not be overlooked.