Verasity is the name of both a multilayer esports and video entertainment platform and the company that created it. Vera is the ecosystem's ERC-777 token, which takes the ticker symbol VRA on exchanges. Holders can stake VRA for yield, and users can generate passive income by engaging with the platform's esports and video-streaming products.
The team behind Verasity aims to make online advertising more appealing to advertisers and consumers. The platform's patented "Proof of View" technology provides a blockchain record of human viewership, allowing advertisers to pay only for ads seen by a real person. Advertisers can pass the savings made onto creators and consumers using VRA.
As of May 2021, Verasity has a handful of live products. Its Esports Fight Club hosts regular tournaments for immensely popular titles, such as PUBG, DOTA 2 and Valorant. Additionally, gamers can spend and earn credits — redeemable for VRA — via the platform's GameStore.
Meanwhile, Verasity.tv provides a range of SDKs for video creators to monetize their content via popular streaming platforms. Verasity claims its Watch&Earn products already support 90% of existing video-streaming services in the West. They include YouTube, Vimeo and Twitch.
Verasity provides a custodial wallet solution to interact with its ecosystem called VeraWallet. In addition to its staking functionality, the product supports both crypto and non-crypto payments.
The company also plans to integrate NFTs into its products and believes its Proof of View technology could help eliminate fraud in the sector. It hopes to eventually provide industry-standard assurances as to the authenticity of NFTs sold on third-party auction platforms.
At the token's 2018 launch, 12,491,500,000 VRA was created. However, Verasity has already bought back and burned around 17% of the circulating supply, taking the total down to about 10.3 billion. Future burns are planned but will be at the team's discretion. Assuming consistent demand, such reductions to the overall token supply should result in upward pressure on the VRA price.
Various aspects of the platform create demand for VRA. Gamers need VRA to access both Pay to Play games and subscription services. Meanwhile, advertisers can buy VRA to issue rewards to viewers engaging with their campaigns. Additionally, the passive income stream the project's staking functionality enables should encourage users to buy Verasity's native token.
Of the total supply, the team and founders hold around 2.17 billion VRA. These tokens remain inaccessible to their holders until the VRA price reaches a predefined target. Once the VRA price exceeds that figure, the founders and team can sell up to 25% of their allocation each year. Veracity chooses not to disclose this price target, citing concerns that knowledge of it could influence market behavior and impact the VRA price.
Verasity's founding members came together in late-2017, having identified an opportunity to reform how online advertisers orchestrate their campaigns. The project's documentation credits RJ Mark with the founding of the Verasity Foundation. Mark is an entrepreneur with more than two decades of experience in hardware and software product development.
Joining Mark is a transparent and varied team of more than 25. Those listed in the Verasity white paper include professionals from the online marketing, esports, web commerce, legal and blockchain industries.