Ico Start Date: 01-Jun-18
Ico End Date: 30-Jun-18
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.Cryptocurrency
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 b?illion3 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.
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.
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.
Creation of foundation structure - Delivered. Public launch of project - Ongoing. Fundraise through private sale - Ongoing. Launch dedicated landing page to support KYC/AML - Ongoing.
Launch public sale. Release VeraPlayer prototype. Release VeraWallet prototype. Expand team of engineers.
Release and test Blockchain. Release VeraWallet. Airdrop VERA onto Verasity Blockchain.
Launch beta of VeraCast.tv to a select group of creators. Launch CMS and Analytics. Launch internal exchange.
Launch full version of VeraCast.tv. Launch Channel Stake Marketplace. Add advertising as a monetisation option. Target non crypto viewers for mass adoption.
Launch mobile apps. Scale platform to 5m Vera wallet holders.
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