The blockchain protocol states that the goal is to significantly increase video publishers’ engagement and provide much-needed growth in ad revenue.
Verasity Proof-of-View, patented by the United States Patent and Trademark Office (US Patent and Trademark No. 10956931), ensures that views recorded on the video platforms are original – and provide “accuracy, security, authentic, and audience” Transparent. On the blockchain …
The project’s search for “false opinions” aims to address concerns that views are often overrated, which means that advertisers end up paying for ads that they did not actually receive. According to some estimates, more than 50% of the money spent on online advertising comes from views that real people don’t see.
One enthusiastic blog post written by the Verasity team explains: “Manipulating these algorithms is wreaking havoc on the ecosystem of viewers, creators, brands, and advertisers. Viewers get the wrong impression on content, and advertisers, sponsors, and creators are misled who take the time to create. Great content but don’t buy false impressions they are at a disadvantage. ”
What is the watch value?
Verasity’s stated goal is to get real value for content. In the internet world, many of us often click millions of views on videos and take these characters as an indication that the video will be of good quality. Viewers end up frustrated by what they see … while the high-quality videos disappear due to dishonest algorithms.
According to the Blockchain Project, spending on digital advertising reached $ 325 billion in 2019. Although budgets were shrinking in 2020 due to the Coronavirus, they are still on track to reach $ 389 billion in 2021. Last year, a third went Money spent goes to Google and Facebook, the tech giants who own the two largest video platforms.
VeraCity says this dominance is causing problems, especially for people who want to earn a living through content creation. Anyone who posts a video that gets 1 million views (which isn’t easy) can only get $ 0.01 per impression, which leads to a payout of $ 10,000.
More information from VERASITY here
Favorable to all
Verasity says the protocol offers a win-win situation – viewers can enjoy high-quality content; Creators can be rewarded with ads, donations, and subscriptions; Now brands can attract audiences instead of just waiting to miss their ads.
The proof-of-view system eliminates the methods that can be used to process the displayed data – for example, videos that are skipped when duplicated or multiple clips upload simultaneously.
When viewers create an account with the Verasity platform, they are assigned an anonymous identifier to ensure the viewing is authentic, which prevents bots from running the system. It is very important that the data regarding the videos being watched remains anonymous.
A good use case is Verasity’s Esports Fight Club website, which allows amateur and professional players to come together in friendly and professional tournaments. This site will bring together all of the Verasity branding tools and offer proof of visibility technology for publishers and platforms looking to significantly increase revenue.
Another exists in the Verasity.tv form, which works as a publisher picker. Creators who distribute their videos to YouTube, Twitch, Vimeo, Brightcove and other platforms can now use this technology to boost their income – reaching 90% of all video players in the West. It is estimated that more than 2 million publishers who struggle to survive on low ad revenue could benefit.
The ecosystem is based on the ERC-777 token, which ensures the correct operation of the Display Confirmation Protocol. Veracity claims that using Ethereum means that tokens can be scaled without the adoption hassles that many of the new major networks have.