If you follow the GlobalPlayboy Twitter feed, you’ll see we’re big fans of Verasity aka $VRA. And frankly, if you’re into crypto and looking for tokens with genuine use cases then you should be looking at this project…
OK, hold up. I’m not gonna talk financial advice in this article, but I will be talking about why I think Verasity is a great project and where I think it’s gonna be heading in 2023 and beyond.
I’m also gonna look at the fundamentals of the Verasity project, and answer the question ‘Should I buy $VRA?’
Before we get started:
This article is NOT FINANCIAL ADVICE. You should always do your own research before investing in anything – from crypto or stocks to retirement funds.
Everything in this article is my personal opinion about the Verasity project, and although I do not own a crystal ball, or have psychic powers, I do believe in the potential of the project.
So, let’s take a look at Verasity.
What is Verasity?
Verasity is a blockchain based project designed to tackle the problem of fake views on ads, also known as ad fraud. Ad fraud is a huge problem for advertisers, costing over $40 billion in lost advertising revenue every year.
Without getting too deep into ad fraud (you can read a more in-depth guide to ad fraud here), basically fake views and clicks are generated which costs advertisers money for nothing – and pays sneaky fraudsters.
Yes, it’s a thing.
It’s a particularly big problem on major advertising channels such as Google Ads and YouTube, as well as Facebook and… Well, anywhere there is programmatic ads.
Now, Verasity aims to tackle this problem using a solution called ‘Proof of View’ or POV. By using a blockchain based verification, Verasity can check if the viewer is a genuine human. The human can also collect payment for watching the ad, in the form of Verasity’s native token, $VRA.
The thing is, this proof of view can be applied to anything where genuine engagement is an issue. From paid ads, to the burgeoning NFT scene or even online gaming or esports.
And that is basically why investing in $VRA should be an exciting prospect.
The potential is MASSIVE – and they’ve barely even started.
What has Verasity done so far?
The team have obviously built the token, and done a pretty solid job at marketing the project.
At the time of writing, they also have the Vera eSports platform which hosts live online sports (no, not Premier League football or the Super Bowl or anything – just computer game tournaments like you’d see on Twitch).
To very briefly summarise their very busy road map:
- Launched VeraPlayer – their own online video channel backed up by their proof of view protocol
- Built support for their e-sports platform on YouTube and Facebook
- Patented their proof of view software
- Created a very generous staking program, offering holders of Verasity’s VRA token up to 25% (currently 18.25% apy – view their VeraWallet here)
- Tier 1 exchange listings including Kucoin, Crypto.com, Huobi, Gate, Bittrex, OKEX and Poloniex.
- Partnered with huge adtech partners including Amazon Ads and Brightcove.
The team have also been busy making sure the fundamentals of the project are solid. And this is one of the main reasons why I believe investing in Verasity is such a good call.
Without getting too deep into the developments (you can dig deep on Reddit), this is still one of the crypto projects with a clear real world use case and one which could be used to help solve a billion dollar problem.
Why is ad fraud a problem?
Ad fraud is a challenged faced by pretty much any platform that runs paid advertisements such as PPC ads. This includes Google, Facebook, Taboola, Amazon, Twitter, Twitch and increasingly CTV services and even Netflix.
For every click or impression on a paid ad, it’s estimated that 1 in 5 clicks is from a fake source such as a bot. These are usually either those bought traffic bots, such as click farm bots for fake followers or to inflate views on your live stream, or bots used by organised criminals.
Put very simply, marketers lose a lot of money, ad platforms suffer from damaged reputations.
And ad fraud makes a lot of money.
Can Verasity solve ad fraud?
Not even Verasity are claiming that they alone can solve the challenges of ad fraud. But, they are offering a method to verify ad viewers as genuine and improve the chances that advertisers will see more of their budget used for ad targeting.
So no, Verasity isn’t the absolute solution. But it is a tool in the fight against ad fraud, and it is one that has been shown to work.
As for the future? Yes another solution might come along. And it’s possible that Verasity might have to face a challenge to it’s place in the market.
But as a crypto investment, I feel that this is one of the coins with the biggest potential for some serious upside come the next bull run.
Read more about how to invest in crypto here.
Price targets for Verasity
So how much could VRA be worth in the coming future? Can you make your potential millions with VRA?
Crypto Twitter has been calling for a $1 VRA since at least when I got interested in the project in early 2021. So far, the best VRA has managed is to hit $0.08c – the current all time high as of November 2022.
At it’s current price of around $0.004, I think that VRA is hugely underpriced and will rise at least back to it’s comfort zone of around $0.02-0.03 within the year or two.
But I do also believe that the project absolutely has the capacity and possibility to hit that $1 mark at some point. When? Well, I would not like to say, but I wouldn’t be aiming to take my profits from that level until beyond 2024/25 at the earliest.
Want to invest in Verasity/VRA? You’ll find it at Kucoin, Crypto.com and various other crypto exchanges.
Remember: ALWAYS DYOR (do your own research) on ANY PROJECT before investing your money. Crypto is a highly volatile space and nothing is guaranteed! You could just as easily lose all your investment funds if you don’t understand the risk or how to manage it.
