Verasity Is The Best Attention-Based Video Rewards Model | EP#146


Hey everyone Scott Cunningham aka @scottcbusiness today we’re going to be talking about veracity.io which is a
very very cool new project which gives you VRA tokens for video rewards and
it’s an attention based token so when you finish a video you can earn VRA from
the content creator who has put money into a VRA campaign and then that that
will incentivize the users to watch the full video and that helps them you know
get more views on their content and as well as help reward their followers in
their their communities so it works really really well for both people
because you watching videos of things that you like you can just continue
doing that and you’ll earn VRA for doing so and the content creator can spend
some money getting VRA and then incentivizing watching the video so this
way they can help you or in cryptocurrency
as well as helping themself boost their content so it’s similar to like an ad
campaign except they’re giving you the money not giving the money to Facebook
or Twitter or however they’re giving you that money and that’s why it is really
really cool because it works really about really well for both the creator
and the user just before we get into the entire thing I just want to let you guys
know that there is a contest that they’re doing right now on by Nantz
decks which is the decentralized trading exchange for buy Nance and they’re
giving away up to 500 BMB I think the first place gets 200 yep and you get the
first stickings available slot to start actually staking your your your tokens
because after you have a hundred thousand you can stake them and then
earn up to thirty six point five annual interest meaning you’ll earn a
ton of VRA but you have to get to that minimum requirement of a hundred
thousand first which is what I intend to do actually because I really see this
going places if you are if you understand and are from we’re familiar
with brave it is very similar not in the sense that it is a browser but I mean
the good thing is that you can actually work with brave use brave earn money on
brave dat and you can use veracity at the same time and earn VRA at the same
time that’s why this is so relevant it’s not an extra download or anything extra
that you really have to do as a user it’s just integrated into your regular
experience whereas brave you do have to go and actually use the brave browser
which I also recommend to mind you however this is really relevant though
because I mean this is the time to get in if you’re going to again this is not
financial advice I am letting you know that they have a really cool contest
going on and and you could win by participating and this is to my own
detriment because I am participating in this and I am also trying to win so
getting more people in is somewhat detrimental to me trying to win however
if more people get in and more people are buying the token naturally the price
will go up so either way I kind of benefit if you if you participate or or
or not but I do think this is really really relevant and I’m excited to see
where it goes so yeah just make sure to check this out if you’re actually trying
to buy some based on what I share with you today and if not you know check it
out it’s really really cool you can still earn a ton of VRA which is really
really awesome so this is the actual website veracity oh you know it is cool
to note that they are working with by Nantz and you know even the founder
itself is he’s very confident in where this is going
vo is a powerful tool to educate engage and entertain veracity is video player
solution offers the perfect vehicle for viewers publishers and content creators
to benefit from the utility of blockchain technology I’m glad that by
Nance and rasa D are leading that that change oh that charge globally so um
yeah it’s really really cool that they’re working together and I
definitely think it’s gonna be onwards and upwards from here the fact that
they’ve already got by Gnaeus endorsing them is is pretty huge and I’ve been
checking their a rank for their coin every day and every day I check it’s
higher like it’s notably higher than the previous day so I I won’t be surprised
if by the end of the year it breaks the top 100 but we’ll see again this is all
conjecture this is not financial advice by any means you don’t need to buy it
even you can earn it which is why it’s so cool and again there’s a lot of
different ways to do this you can do this as a content creator as a platform
publisher or as as a user for earning so there’s a lot of different applications
for this and the people who benefit from this everyone gets to benefit which is
the group which is the best part because the content creators are not spending
their money on Twitter and Facebook they’re giving you VRA tokens for
watching their content which naturally might help them because if you watch all
of their content all the way through they might be able to earn ads elsewhere
and you know just just different ways to earn money and improving their content
consumption retention and you know there’s just all that good stuff they’re
gonna get a lot more viewership and and just engagement in everything likely
assuming that people who are in your community want to engage with you and
now that they’re even being rewarded for doing so it gives them that much more
incentive to do so so here’s an example here you can see
that when you’ve watched a certain amount of the video you or you earn the
reward and you saw how it popped up a second
ago and said you’ve earned a reward when you see the trophy on the right side the
screen turn green that means you can claim your reward and it’s able to be
built-in with all of these major video players I love to see it start to work
with a lot of the blockchain ones but this is a really really good start and
I’m sure it’s going to be only onwards and upwards from here so when you go and
you see this pop up you can just click it see this is just a regular YouTube
video nothing is different except this little overlay that just pops up when
it’s been added so then you can click on it and you’ve seen that I’ve earned a
reward all you have to do is create your rewards account and you can start
getting it really easily you know just a few fields I’ve already made an account
so all I would have to do is just sign in and I don’t even remember what I used
originally so let’s just try this there you go awesome so you can see that I’ve
earned all these rewards from just from watching different videos and it’s
pretty ideal because you know hey these could go up in a lot of value and
eventually it’s not you know 0.006 cents it’s a you know a substantial amount of
money similar to the way that like brave is it’s like 30 cents or something like
that and it’s you’re getting it from watching ads or allowing ads on your
brave browser again the cool thing here is that you could do both of those at
the same time you could be earning be 80 and VRA with no you know conflict in
between the two you can easily just earn both no problem and the cool thing is as
more and more people start to use this you’ll be able to just earn it just
anywhere you go just by watching the videos that you might already be
watching now you can find a directory of all the videos that are using this so if
you want to actually like go out of your way to try to earn room
you can do that as well and you know it’s like why not if you want to watch
gaming videos you could watch one of these and earn why not so it’s really
really ideal because you’re just monetizing your attention because it’s
like an attention token like b8e you’re monetizing your attention and you’re
giving yourself back some of the value that you have that your attention is
worth you’re getting some of that back for sharing your attention with you know
that creator on that video whatever it might be yeah so let’s dive into this a
little bit more it’s been in the news like a lot you can see there’s tons
going on people explaining in similar to what I’m doing you know in some bigger
articles here’s where you can actually go to watch like a bunch of videos that
are all VRA that all have VRA O’War rewards and it’s a really ideal place to
do this if that’s what you’re trying to do if you’re trying to earn because a
lot of people look for ways to earn crypto and you know with these new
attention tokens it’s becoming easier and easier for you to just monetize your
attention and veracity is an amazing example of this so you can also go and
check out their white paper and all of their other stuff that they’ve got in
here publisher guy and tons of stuff the white paper is if you want to get really
in-depth with the technical aspects but here they explain it really well in
layman’s terms so we’re gonna just go through this to explain how it works so
they say why voracity well if you want to solve some of the problems or
alleviate some of the problems that you have on the internet already whether
it’s for creators or users or whatever this is the problem really a lot of ads
are intrusive you know a lot of view a lot of viewers have to give away their
privacy rights and or just get their privacy rights
taken from them for these ads to be delivered based on tracking a lot of
users use adblock meaning content creators suffer and get less revenue
because of adblock so then publishers and content creators they’re getting a
lot less money than they then they otherwise would have and they’re upset
about that and and naturally they’re getting less engagement and a lower
viewership in ROI so instead of giving money to you know YouTube and the
Creator the Creator can just directly share with you to incentivize you to
watch their video that’s why veracity is so relevant because you are getting paid
by the person that you want to watch to wash their content it’s it’s like what
you already might have otherwise done but now they’re rewarding you for being
such a great follower such a great subscriber such a great fan they’re
rewarding you for your loyalty and and and that’s a really big deal because
it’s not you know YouTube’s getting that money it’s not twitter getting that
money it’s you getting that cut instead and of course who doesn’t want more
money for things they’re already going to do so what is the solution the
solution is veracity they they integrate fully with all those players those video
players that I talked about earlier and I show it at the beginning I’ll just
scroll back up anyways just to recount recap on them YouTube twitch Vimeo and
all of these you know alternative players I’m sure they’re going to keep
expanding and eventually if they cover like d2 mines bitch shoot all these
other like libery bit tube that’ll be really really big and you know you’ll
just find more and more and more ways to earn more crypto which is awesome
especially for users obviously so very easy to integrate they’ve they
claim that it’s they made it really really easy to do this so that’s awesome
the reward model works really really well it’s on over 90 percent of major
platforms already like I said hopefully they cover the rest but they’ve already
done an amazing job for doing that it provides rewards for actions without
changing the publishers workflow or the viewers habits or preferences that’s a
big deal because one of the big issues in blockchain social media platforms is
getting people to consume content differently so if I say stop watching
content on YouTube come watch my stuff on mines or Indy tube people who aren’t
already on those new platforms are very reluctant to switch just to do that with
this you can monetize platforms and well yeah you can monetize platforms just as
they are I can add this to a YouTube video so the person who prefers to watch
YouTube can still do that and almost nothing changes and I almost have would
have to do nothing as well to get that to happen I would just need to create a
campaign and and fund it with VRA and then offer that to to the people who
watch it and then it and then you’d be good to go so that’s awesome really
really great way to incentivize that interaction without creating any
resistance that’s one of the biggest things here it’s that it’s got extremely
low resistance for the user and the content creator or publisher the wallet
is is really cool because it’s like an overlay that just gets added on top of
like a video so like it says here it’s in video and in video application and
then in that you can earn steak send and spend well we’ll get to the spend aspect
in a bit but and thus taking as well but we’re mainly focused on earning right
now so we’ll just talk about that so
verification analytics they have a model called proof of view this is
patent-pending technology it’s just so that they can correctly ensure that
someone has actually viewed the video and you know there’s no illegitimate
things going on where people are unfairly earning and taking out of the
campaign which is not fair to the content creator who’s trying to provide
a cool way to reward their their fan base their loyal followers and someone’s
trying to abuse that taking away money that they’ve invested into the campaign
and taking away potential rewards from actual viewers so it’s good that they’re
gonna have this to ensure that you know it’s legitimate and yeah like other
other solutions haven’t worked very well they haven’t scaled this is a perfect
example they talk about D live so PewDiePie the the number one subscribed
single youtuber moved exclusively to doing live streaming on DLive so even
though he had 95 million followers on YouTube only 250,000 went to DLive
naturally it shows how challenging it is to get people to change their viewing
habits and their general viewing preferences clearly not even the most
subscribed single youtuber and I’m saying single youtuber because T series
is above him but he is a single as a single person he is the most subscribed
but yeah so it really just goes to show that even if he does it it’s going to be
a minut percentage than are going to actually switch over 0.25 percent was
what actually did so clearly getting be able to change their viewing habits is
is very challenging so instead of trying to get people to switch
you can monetize and add on to what people are already using and that’s
going to massively benefit you and the your followers your users and um as well
as make note that D live isn’t an actual blockchain platform it uses lino points
which haven’t even launched their test net and it’s fully controlled by them
and it’s not traded publicly so I would not trust that not only did he back the
wrong horse it didn’t work super well to get a bunch of people to switch over
it’s good for blockchain awareness but again people do not want to leave their
current platform so as you see here it’s like no one wants to leave the platforms
that they use and publishers don’t want to change platforms thus this is the
solution for both of those voracity integrates with all these uh all these
players that already exist and the people who are on these different
platforms don’t have to do anything different they just get to earn extra
now where whereas before they didn’t earn anything you as the user were not
valued for your your attention now you can earn money for it again you could
already do this with brave but that was just in general this is specifically for
video which you can do together you can earn brave dat tokens and VRA and that’s
why it’s so so relevant attention tokens are becoming super super big and yeah
they they also plan to continue to scale and get more and more players and they
plan to scale it to the thousands by 2021 so there’s a lot going on for this
project and again they’re already endorsed by by Nantz so that’s pretty
big and viewer stickiness this is just
really about the fact that their wallet rewards at different from
different Paulo the wallet that is built-in will reward you differently
from different publishers at different stages of redemption the value of the
reward increases and the user will return more and more often which means
that over time you will get more rewards as a user and it will it will help you
as a publisher because you’ll get returning viewers so you know it’s very
relevant because not only is it going to get people to watch the whole video but
knowing that they can then earn more VRA it’s going to incentivize them to come
back so viewer stickiness they’re really just talking about how you can
continually get people to come back because they have a better reason to
than to go to other places and and given the infancy of this program this this
project you know eventually there could be a point where it’s like why bother
watching a video if you’re not gonna get rewarded for it that could be a near
future and yeah it’s something to think about your your attention is worth more
than you’re willing to value it at if you are not getting paid at all for your
attention or getting any kind of reimbursement this is the technical
ecosystem as to how it works advertiser trading attention with the
viewers on whatever publisher and then you’re getting the VRA rewards and
dispersed between the two and you’ve got your sponsor so oh yeah here kind of
walks through this so one viewers earn VRA because they’ve watched the video to
publishers reward the VRA because they’ve funded their campaigns to
incentivize this because you need to fund the campaign
for there to be VRA available so do note that on brave you just get it from brave
you get dat from brave whereas here you’re getting it from the
actual publishers and the content creators they’re the ones who are
putting their money into this to give to you so then naturally as you watch their
videos and they earn more money they can then put more money into funding those
campaigns to give you more money as well so then everyone wins
advertisers also reward VRA because also what you can do is you can enable ads
through VRA to earn more VRA as well so say you just want to you know give your
you know you go to your your favorite video producer or content creators video
and you watch it and you don’t really care about earning extra VRA you don’t
want to watch like ads and things you just want to be incentivized for what
you already watch that is completely fine you can do that but then if you
also are like hey you know what I will I will enable some ads as well well you
can enable ads and earn even more VRA which will help the person that you’re
watching as well as yourself because you’re gonna earn more and ad revenue
will go to veracity and you’ll think well who cares if they get money well
interestingly enough they’ve created a really great model that makes you
encouraged to want this so so what would happen is all of the revenue or not all
of but a good portion of the revenue that they’re getting for ads will be
used to buy back voracity tokens VRA on exchanges meaning that they will help
keep the value going and that will make your earned VRA worth more because there
is you know more trade volume and you’re actually able to sell it they will buy
it from you so you also have that you know option
available to you you’re not gonna be stuck hoping that someone will buy it or
not you can be you can rest assured knowing that you can sell it back to her
asset E and you can get your money no problem so you don’t have to rely on the
fact that you know there’s a lot of trading going on so hopefully you can
sell it you can always kind of rely that they’ll be able to buy it from you if
anything so that’s really really ideal and a great way to you know sort of like
cycle through the tokens which we’ll talk about in a second and then again
rewarding VRA holders users can stake their VRA and receive daily rewards for
doing so the longer the VRA is staked the larger the rewards the staking
program incentivizes the economy to hold VRA and this is what I talked about
originally I want to stake it because you can earn a ton of interest daily now
let’s look at easy conversion it’ll be very easy to to target people who aren’t
crypto users because it’ll be so easy for them to sign up and get going and
naturally that will bring a bunch of people who weren’t even into crypto into
the crypto space because they don’t have to go and download something extra or
whatever might be it’s all just integrated into their regular experience
and that’s why that’s so relevant now the actual cycle the VRA virtuous cycle
basically what happens is the publisher gets their VRA and then the viewer
watches the content earns the VRA and they can choose to watch ads as I’ve
said this will generate extra and as they say here they will then use that to
buy the RA back so there might be all of it but I’m not sure how much what
percentage and then adds benefit the publishers because the publishers also
get some of the revenue so again if you are enabling ads you are going to still
help the content creator it’s not all just gonna go to veracity and what does
go to veracity will be helped we’ll be used to help buy it back so
it’s all going to be very very useful so you know you don’t have to feel like
like YouTube just gonna take all this ad revenue they they’ve set up a model that
the sharing of the ad revenue works really really well and then whatever
they take they will they will invest back into the system which is really
good and then you can use VRA to stake in or an interest you can donate it as
well to the the creators that you like to watch or you can spend it or sell it
so soon we’re actually going to look at there’s there’s a couple websites
already where you can start spending VRA and I’m sure that will you know increase
as time goes on I’m not planning on spending that though I’m gonna plan on
staking it and earning more so the economy again it is a new way to reward
attention for video engagement this is a more technical look at the built in
economic mechanisms and how it works you can take a look at that yourself I think
this is a little too complicated too to be explaining via video it’s a little
too in-depth yeah we’ll talk about staking in a second let’s take a look at
their road map so they’ve actually done a lot they’ve been going since near the
end of 2017 and they’ve accomplished a crazy amount of stuff and now that
they’re you know working with by Nantz they’ve got this this big competition
going a lot of people are starting to like they’ve got all these video players
involved now I’m sure as this continues to to build and they get more publishers
and everything eventually when they finally launch the test net and the
proof of view system it’s going to it’s going to be big and I think getting in
earlier is is for your own interest I mean not only could you earn via the
competition but just before it gets really really really
relevant because I honestly believe that that attention tokens are going to be a
huge huge aspect of the ways that people earn cryptocurrency and monetize their
lives which i think is one of the biggest biggest things because people
are always looking for ways to earn money online and if you can earn money
for doing what you already do well that’s something isn’t it
so you’re these are just a bunch of different things that people have said
from different companies about this lots and lots of good reviews they’ve been
getting tons of attention but we’re gonna stop for a second and look at some
of the different ways that you can utilize the VRA so this is when you’re a
content creator and you want to grow your audience really you just come to
this field and then you can sign up and get going I’ve I’m gonna sign up as well
I don’t have my own domain that I host videos on so that might change because I
really want to take advantage of this especially now that I have so much VRA I
might be able to utilize this for my own videos and I think that’d be really
relevant though I am also pretty set on staking it as well so we’ll see how that
goes let’s look at earning them so as we said
before you know you’ll see a little overlay that just has this little trophy
and once it turns green because you’ve watched the video you can claim your
reward and it’s very very easy as I showed before it took like two seconds
do note that you need a separate account for your rewards and a separate account
for your actual regular wallet both are very easy to create though so no worries
there here it just shows you some of the active campaigns that are currently
running and yeah you can get an idea of what’s going on right now and then later
when they actually end and what and what what what’s available
to you really like where can you where can you earn money oh and to just have
that transparency as to who’s actually participating and then this is the big
one so this is actually talking about staking and and and again you can only
stake if you have a minimum of a hundred but you’re able to earn up to a hundred
villar a hundred thousand sorry and you’re able to earn up to a hundred VRA
per day so you can earn a pretty pretty good value every single day and you know
it’s gonna end up earning you more than a third of your investment every year
what it actually says exactly is you’re gonna get 0.1% per day and because it’s
per day its compounding that’s really really relevant it’s gonna make you earn
way more and that’s an equivalent of thirty six point five percent per year
and that’s assuming you’re not taking it out because it’s compounding right so
it’s actually gonna be more than that it would have just been thirty six thousand
five hundred but when you factor in compounding interests it’s more like
forty four thousand something around there so that is pretty relevant so as
you get more you’re gonna earn more and it’s just gonna keep exponentially going
up and you’ll be able to earn back your original investment and maybe just a
little over two years or close to two years and that’s pretty awesome and it’s
not very expensive to get in right now so you know something to note but again
I am NOT giving you financial advice I’m letting you know what’s out there all
right just keep that in mind the maximum mistake is two hundred
million which will earn you two hundred thousand a day Wow
so yeah you can staking is pretty simple just go into your wallet stake it simple
enough the great thing that they actually have for staking is that she
here let’s go to learn more section the really cool thing about staking on
their platform is that it only takes three days to retrieve your stake back
meaning that you know on a lot of platforms like Steam for example if you
stake in it takes 13 weeks to get your stake back and you get one week every
like every week at a time you get a percentage of that you get one third
whereas with this there’s no lock-in period there’s just a lock out so you
just wait three days to get your stuff back really small amount of time
considering how much you get to earn so you could just be earning away earning
away and then you know take some out as you need only takes three days
that’s pretty ideal yeah and this is just uh like something that they put out
that kind of explains how it all works going through in actually staking and
and making transfers with your wallet and everything see this gives you a
pretty good amount idea see the lock-in period there is no lock-in period you
have to stake it for at least 24 hours to earn your percentage and you can
unstick any time just take 72 hours really really really attractive model
that they’ve set up here in terms of how how much you can earn really really
ideal because the other platforms like Steam they they make you keep your
stakes staked because it takes so long to retrieve it thus that gives it value
but here you’re earning a ton of interest on your stake and you’re
incentivized to keep staking so that you keep earning and they’re gonna keep
coming back and buying the tokens so hopefully that’ll keep the value up keep
the volume up and yeah there’s just a really good model set up to reward
people who are staking and people to earn and you know it doesn’t matter who
you are involved in this process you are getting some sort of awesome benefit
that you probably didn’t have already and that’s why it’s so so relevant and
that’s why we made this so ridiculously long yeah now spending
you can actually they have a store here that sells tons of different things you
know fashion accessories gaming equipment esteem Keys whatever it might
be you can buy it off of them using VRA and then here you can earn more VRA by
watching their videos and you can buy oh sorry they don’t sell steam keys on
here they still steam keys on here you can buy keys gift cards all that good
stuff and yeah these are the two main sites that they’re working with so far
but I’m very sure that they will continue to grow as more and more people
learn about this project and you can also donate to different creators very
soon they’ll have the send option available that is in their roadmap
coming very soon so that’s pretty much everything you guys we went through the
whole thing they’ve got a ton of different social media platforms that
you can check them out and follow on there even on Steam so that’s really
good to see they’re very involved in the crypto blockchain social space so
definitely go and check these guys out let me know what you think about them I
think this is a really really cool opportunity and again like I said I’ll
be staking you know my minimum investment in you know just watching
that baby grow so let me know what you guys are gonna do what do you think of
this project like what do you think of this in terms of how it compares to
brave and how brave works and how you can use them together will you be trying
to check this out will you be setting up on this looking at different videos
seeing what’s available let me know in the comments below and as always I’m
Scott Cunningham aka @scottcbusiness signing off Cheers

5 thoughts on “Verasity Is The Best Attention-Based Video Rewards Model | EP#146”

  1. The overall idea is pretty good, but it needs to be better integrated. At first, it seemed like they did, by having their icon show up on videos on different platforms, but (and that's a big but) you need to create an account FOR EACH PUBLISHER that has a rewards program. So you're likely to have to make up to hundreds of accounts eventually, if you watch from different creators. That's a big turn off for me.

    Instead, they could keep using 2 accounts, one for your wallet, one for a rewards program manager, and when you run into a new rewards program, instead of having to create a new account, you could simply add it to your list and manage it that way. That would be a lot more convenient.

  2. Verasity is a crazy project and they’ve only just started. They haven’t even started their mass awareness campaign! They recently shared what the integration of verasity did for a video website’s numbers and the watch time increased with 30%. That’s absolutely insane and shows how big of a difference this coin can make in the future

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