Verasity's VRA token is designed to fight ad fraud by using blockchain and artificial intelligence to create a more honest and efficient digital advertising system.
VRA and Its Economics
VRA serves as the main currency within Verasity's ecosystem, facilitating a transparent flow of value between advertisers, creators, and viewers. Originally created on the Ethereum blockchain as an ERC-20 token, VRA upgraded to the ERC-777 standard in 2021 to enhance efficiency. The company employs a deflationary model with a buyback-and-burn program to reduce the number of tokens in circulation. A significant token burn took place in October 2023 after a community vote.
Key Uses of VRA Token
VRA serves multiple functions within the Verasity ecosystem. Companies spend VRA on advertising campaigns on the VeraViews platform, while content creators earn VRA for verified views using Proof of View (PoV). Viewers can earn tokens by watching videos on sites utilizing Verasity's SDK. VRA holders can participate in staking through VeraWallet, earning a 15% annual yield until 2026.
Unique Features of VRA
Verasity's Proof of View technology combines artificial intelligence, machine learning, and blockchain to detect ad fraud in real-time, ensuring payment only for genuine engagement. This technology is patented in the US and South Korea. VRA bridges advertising, rewards, and esports, offering broader utility compared to many niche cryptocurrencies.
Verasity is actively combating ad fraud and rewarding genuine viewers by refining its technologies and expanding its partnerships. The ongoing token burns and integration of Verasity into new advertising platforms contribute to the growing utility and potential of VRA in the future.
