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Verasity
A Next Generation Video Sharing Platform
Verasity is a disruptive video sharing platform designed to pivot the online video ecosystem by enabling a direct and transparent relationship between viewers, content creators and advertisers.
Our experienced team has a wealth of experience spanning across the Media and Technology sectors, with previous leadership roles at companies including Eurosport, Sky, Joost, AOL, Turner and Guardian.
Powered by existing cutting-edge video player technology, Verasity provides a high-quality viewing experience. Verasity’s proprietary Blockchain technology (PoV™) creates a transparent economy powered by a new cryptocurrency called VERA.
Our goal is to liberate creators and online publishers whilst improving the viewer experience for video. Verasity's protocols will be used across the web integrating video delivery and instant micropayments using VERA all backed with trusted and transparent Proof of View™ Blockchain technology.
Online video is the fastest growing medium. It is set to account for 82% of all consumer Internet traffic by 20211 and the market is worth $312 billion2. Yet the online video business model is fundamentally challenged.
With the advent of online video platforms, both video creation and consumption are more accessible than ever before. This has led to a significant increase in content production and consumption as audiences shift online for digital entertainment. However, under current advertising models, companies like Facebook and Google stand out as the winners generating $ 191.8 billion3 of net advertising revenue between them in 2017 by controlling the distribution of content and the sale of advertising.
Audiences have fast turned into a commodity. Their personal data is sold to corporations for more targeted advertising, while creators and publishers receive a percentage of revenue after the platform and intermediaries take a significant share of the advertising revenue. In recent years, content creators and online publishers have been very vocal on these issues, as the limited revenue they are generating means they are unable to re-invest into content and, therefore they struggle to maintain their channels.
With these monopolies controlling the majority of online content, they continue to turn the screw to increase margins, change algorithms that demonetize creators and decide what content is monetizable. Any competitor who sets out to challenge this status quo and gains audience attention is quickly acquired and controlled, threatening future consumer options online.
The mass adoption of AdBlock technology demonstrates the viewers frustration with the current model. Creators and publishers with strong, loyal audiences are exploring new platforms to sell subscriptions for their content, where users are happy to pay for an ad free experience, which is often an expensive route for all.
Without disruptive change, we are witnessing a race to the bottom caused by conflicting priorities between Creators, Advertisers and their current platforms.
Verasity sets to change all this. It is next generation video sharing platform is designed to liberate creators and benefit the viewer experience.
Using blockchain technology, the platform facilitates direct and transparent value exchange between video viewers and content publishers or creators. As a Foundation, revenues are retained within the economy and for platform operating costs. Verasity puts the power back into the hands of the users and content providers, creating a better ecosystem for all.
The Verasity protocol aims to power the future of digital entertainment. It will be adopted by Content Publishers, Creators and Advertisers as a replacement for traditional content monetization channels. Verasity will challenge the hegemony of the tech giants who are rapidly becoming digital cartels.
Lets perform a task - to find any numbers in their 64 pages WP. I mean numbers about marketing, business planning etc. The correct answer - there are no numbers, just a text. Than is this the right paper to raise funds? NO. Though the team in the WP looks good. It is strange
Thank you so much for your feedback - we took it on-board and have since updated our whitepaper (pages 47 - 51) with more extensive information and figures about our go-to-market strategy and the general business direction. We'd love it if you could take another look!
Serial Entrepreneur | Investor Meetup | ICO advisor | China Market | Exchange Rated on May 17, 2018
4
3
4
8%
Team: The core team is good, but recommend to improve advisory board. And the most important team member should be operation expert, I did not see in the team.
Vision: There are too many similar service leverage blockchain technology to increase transparency and monetizing in video community. So it's high challenge.
Product: MVP is ready, looking forward to see the next generation video player.
Thanks for checking out the project and writing this review. As time goes on we’ll be building out the team.
Very much appreciate the feedback regarding the operational expertise in the team. I think if you were to have some time to analyze the team, you would find we have some of the leading experts in the space that have developed, and operated some of the largest online services in the world. Operation of scalable online video platforms at every level is in our DNA. We would be happy to discuss it with you.
We’ve also had the following people come on as advisors:
Sangjin Hong: Co-founder and CEO of Chain Cabinet (a blockchain startup platform)
Christopher Keshian: CEO/ Co-founder of the first fiat gateway to the Ethereum ecosystem.
Nakhoon Choi: Advisor of Korea BlockChain Association
Jin Young Choi: CEO of Bitbank
Joel Kovshoff: Serving as the CEO and founder of MyICOPool; as well as being co-founder and CEO Athena Trading Bot.
In terms of vision we have a key USP in this area - whilst there are other services providing video monetization most of them are trying to build decentralized video distribution. We have already got our own, working video player and technology and are partnered with Akamai to run our video library on a high-performance CDN which ensures our product will work at scale for viral AND niche video.
Our patent pending Proof-of-View tech will also ensure that bots won’t run rampant on our service which could break down other blockchain video payment services.
Likewise, our Spark Marketplace which runs on smart-contracts allows channel owners to raise funds and the people who buy VeraSparks to earn a share of a channel’s ongoing financial success.
ICO Marketing Expert | Launch Strategist | Global Branding and Fundraising Master Rated on May 17, 2018
4
5
4
7%
Video site being a very large entertainment industry, the potential for this project is huge. There will be a next-crypto-youtube for sure and I cannot say if it is VERA, but if you persist on this path, they very well can be. Its going to be a rough journey, but commitment is all it takes and their team looks strong to keep up with it.
Blockchain Consultant, MBA, LSSGB, Former USA Financial Advisor, Insurance Agent Rated on May 17, 2018
4
4
4
5%
In my opinion this is an interesting project.
Probably the thing that caught my attention was “Verasity sets to change all this. It is next generation video sharing platform is designed to liberate creators and benefit the viewer experience.”
Some questions to ask would be about adoption, scalability and how will the team meet adversity or changes? I think adjusting to change and learning from mistakes are most important at the beginning. I also don’t see any advisors.
I think this product is needed in the industry, and I look forward to seeing how the project comes together
Blockchain ICO Consultant / Advisor. Founder at Crypto Consulting and Investments LTD. Rated on May 21, 2018
5
5
5
5%
There is a strong and knowledgeable team leading this, and they are also have a strong vision in what is a competitive market. I look forward to seeing how this one develops over the coming months
Investor and consultant in distributed ledger technologies. Business strategy and CTO profile. Rated on May 16, 2018
5
5
4
5%
- Strong advisors and team!
- Informative marketing, one of the few ICO video ads that I actually watched.
- I would like to see more on the product go-to-market strategy on how to compete with one of the world's strongest brands.
Managing Partner, Usetech.com Rated on May 10, 2018
5
5
4
5%
For some reason video projects seem to attract strongest teams. This is one. I met one of the co-founders on a conference and liked what he was talking about. The only risk I see is the complexity of the business they're building. They do have the team to do it, it will just be challenging to get enough attention to the company's products to make it a unicorn.
Professor of Finance and Entrepreneurship Rated on Apr 11, 2018
5
4
3
4%
Team
Pros:
- a lot of knowledge and experience
- token lockup for the team for 18 months
Vision
Pros:
- Community building via the Spark Marketplace
- taking short-term token holders into account
Cons:
- first central moderation, later users, however mechanism is not clear
Product
Pros:
- Proof of View Concept
- highly scalable Blockchain with DPoS
- content management system
- want to raise 23.7 Mio. USD, okay for such a project
Cons:
- utility token, however via the marketplace payments possible, hence danger of security interpretation
- complexity of Vera, VeraSpark and TotalSpark
- maintains always a set of trusted nodes... how, who?
- 20% of the token go to the Core Team & Founders
- 7.5% of the token go to Advisors
I like the idea and the team look ok. However, there is little consideration how will Verasity take over things like youtube and twitch. The key to a video sharing platform at first is to get people to post content and quality content is preferable.
The industry is certainly a hot one with influencers gaining popularity on a daily basis. Looking through Versaity wp I missed calculations and considerations about the competitors, market entry and user and author acquisition.
Thank you for taking the time to check out Verasity. In terms of YouTube and Twitch we provided an outline for how we plan to take Verasity to market in the section titled: Building Community and Go To Market Strategy which talks about bringing content providers onboard.
You can also find out more about how the actual economy will work in our separate economic whitepaper: https://verasity.io/documents/verasity_economics_eng.pdf
Entrepreneur, Investor, ICO Analyst Rated on May 22, 2018
4
4
2
4%
There are several weak points that this project has:
- Weak token model (overpriced, in compare with similar, working projects)
- Has several large blockchain and non-blockchain competitors.
- Attention/sharing tokens didn't show any significant progress for the past years with couple expections
- Solid team with relative experience
- Weak demand for the product
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
Founders identified opportunity for Blockchain based video platform and started investigations. - Delivered
Adapted an existing white label UDP video player and CDN which has proven scale - Delivered
UDP Video Player technology built into Chromium. TCP fallback integrated into player for seamless use on non-UDP enabled browsers - Delivered.
2
Q4 2017
UDP video player tested with Akamai at 30m+ unique users per month - Delivered. Assemble core team and advisors - Delivered. Write and validate white paper - Delivered. Investigation into Blockchain ledger - Delivered.
3
Q1 2018
Creation of foundation structure - Delivered.
Public launch of project - Ongoing.
Fundraise through private sale - Ongoing.
Launch dedicated landing page to support KYC/AML - Ongoing.
4
Q2 2018
Launch public sale. Release VeraPlayer prototype. Release VeraWallet prototype. Expand team of engineers.
5
Q3 2018
Release and test Blockchain.
Release VeraWallet.
Airdrop VERA onto Verasity Blockchain.
6
Q4 2018
Launch beta of VeraCast.tv to a select group of creators. Launch CMS and Analytics. Launch internal exchange.
7
2019
Launch full version of VeraCast.tv.
Launch Channel Stake Marketplace.
Add advertising as a monetisation option.
Target non crypto viewers for mass adoption.
8
2020
Launch mobile apps. Scale platform to 5m Vera wallet holders.
