With so much news and updates going on recently, it’s time to make sure the basic facts remain clear for everyone. What are the uses of the VRA token and what drives demand? The great thing about Verasity’s VRA token is that it has multiple purposes that benefits everyone using it — the hodlers, the traders, advertisers, publishers and viewers. Let’s dig deeper to find out exactly how…

Staking

If you have read the Verasity 2019 Changes post — you would be aware that we have added a staking program for VRA called VRApool. We are very excited about it… you should be too! By staking your VRA tokens, you are able to earn 0.1% per day in VRA (36% AER). Every 24 hours your reward from the stake will be added to your Verasity account.

VRApool is a great way to hodl and earn at the same time! To read the full details on the VRApool program, check out our Whitepaper Amendments.

The Verasity Ecosystem and Rewarded Video Player

Using Verasity’s Patent Pending Rewarded Player Technology, Broadcasters, Publishers, Viewers, Advertisers and Brands interact directly with one another. Publishers use VRA to reward, monetize and power loyalty schemes within the player wallet and as a result, increase their engagement, audiences and revenue.

This attention-based model, powered by VRA, creates a thriving token economy. VRA transactions are fast, secure and efficient. There is less need for intermediaries that exist in traditional media ecosystems.

How does the attention based ecosystem work?

Viewers earn VRA rewards — When users watch videos and adverts on a website that is using Verasity technology, the viewers can be rewarded with VRA. Using Verasity’s inbuilt wallet, viewers may also earn more rewards by referring other people. Publishers Reward VRA — Publisher and Broadcasters buy VRA to reward users and build valuable audiences which they monetise through ads, commerce or subscriptions. By rewarding VRA, Publishers can increase engagement, audience numbers and revenue, as well as build loyalty schemes. Advertisers Reward VRA — To reach and engage potential customers viewing videos, Advertisers buy VRA to reward viewers to watch their ads and learning about their products. This releases the true value of each view and builds an attention-based advertising model. Viewers can buy and spend VRA to access content through pay-per-view, donations and subscriptions.

Each participant in the ecosystem has a need to buy and hold VRA, driving demand for the token.

Exchange and easy transferring

We recently announced our First Exchange Listing on HitBTC, a top 10 cryptocurrency exchange with over $500m daily trading volume. This means fast, safe, and secure trading of VRA.

Alongside the fact that this is our first exchange listing and we are preparing extensively for this launch to be as successful as it can, it also means that we will be unlocking the feature whereby we will allow our token holders to send and receive VRA.

We are building the future of online video, and VRA is the coin that will power it all.