The Verasity token (VRA) powers a blockchain system designed to increase honesty and efficiency in digital advertising. Founded in 2017, Verasity addresses ad fraud challenges by combining artificial intelligence, machine learning, and blockchain to improve the online video and advertising experience for all involved.
Key Features of the VRA Token
VRA serves as the main currency within the Verasity ecosystem, providing a transparent value flow among advertisers, creators, and viewers. Initially created as an ERC-20 token on the Ethereum blockchain, VRA upgraded to the ERC-777 standard in 2021 for greater efficiency. The Verasity tokenomics model includes a 'buyback-and-burn' program that permanently removes tokens from circulation. A significant milestone was the October 2023 community vote to destroy 10 billion VRA tokens.
Functions and Uses of VRA
VRA serves multiple purposes within the Verasity ecosystem: advertising payments, viewer rewards through the 'Watch & Earn' program, staking opportunities with a 15% annual yield until 2026. Additionally, VRA supports tournament fees and subscriptions on VeraEsports.
What Makes VRA Unique?
Verasity's Proof of View (PoV) technology, patented in the U.S. and South Korea, blends AI, machine learning, and blockchain to detect ad fraud in real time. This technology positions Verasity as a pioneer in the digital advertising space with its focus on transparency and reducing wasteful ad spending. VRA also boasts cross-industry applications in advertising, rewards, and esports, offering a more stable demand and versatile usage compared to niche tokens.
Verasity continues to focus on combating ad fraud and rewarding genuine viewers. Regular token burns are expected to reduce supply, potentially increasing each token's value over time. For those interested in honest advertising, VRA provides concrete solutions in an industry often filled with empty promises.
