The approximate marketable total for online video is $ 312 billion. Two of the largest video platforms generate more than 1.1 billion hours of watch video per 45 days, but fail to effectively balance conflicting interests between different stakeholders including Audience, Creator, Advertiser and their own Shareholders. Facebook, Instagram and YouTube force users to watch ads to generate revenue for the platform. Users have concerns about the use of their personal data.
Business platforms need to generate revenues and profits to pay for technical infrastructure, operating costs, multiple advertiser brokers, and share to the Creator. The part paid to the creator has been reported as low as $ 0.30 to the dollar. All of this data is stored centrally so there is no way the Creator or Publisher can really prove what their share is and they often have to wait 60 days before they receive their payment. Platforms can often change policies, or change algorithms, which can result in lost revenue for creators, who have no voice to complain about.
In a race to replace lost revenue, Creators create higher content volumes. This creates an oversupply of content commonly known as "shock content". This means there are more videos on the platform than can be watched humanely, and advertising revenue is not enough to satisfy all Creators. Now platforms have a lot of low quality content they have to pay to keep and host, increasing operating costs.
While this approach generates massive content libraries, only Creators produce very large audiences that generate high-level revenue. High quality but special content, which can be very valuable to listeners, is significantly impaired because income is heavily dependent on maximizing views. Creators and Publishers have been the commodity content suppliers among the broad undifferentiated content in social media news feeds. As a result, Creator and Publisher Content is increasingly pressured to pay viewers attention, thereby further enhancing the control of the largest platforms in digital media.
Some creators may try to play a platform by using bots to create fake views and improve rankings, creating an unfair market. Advertisers only want to advertise on brand-safe content and actual users. Because their revenue is the key to the platform, they call shooting and apply policy changes that negatively impact creators. With bot infestations and false views, Advertisers complain and reduce the price. Both the net result in the lower part to the creator. Creators may have enough and migrate their content to a transaction-based platform. However payments on traditional websites are not currently designed for microtransactions, they are clumsy and inflexible.
Creators rely on a solid fan base and should believe they get a fair share after the costly fees they pay onto each platform. These complex paywalls also act as a barrier to incorporate rigid Creators from growing their fan base. Creators can not quit their day jobs and do not have enough time to create great content as they struggle to raise funds. They have cash flow issues because their value is enclosed in their content.
Publishers or Creators who wish to use corporate video solutions to host their own sites must invest enormous initial costs and incur costly bandwidth, storage, and player costs. This quite often prevents major publishers who want to drive videos, because they cost more than the revenue generated from ad revenue.
The top three platforms form quasi-monopolies that control more than half of all digital advertising revenue. All three have recently entered content production and they are centrally invested a lot of money. It competes directly with Kreator and Publisher. If any new platform starts building a large audience, they are quickly acquired. This greatly affects the future of consumer choice. And herein lies the problem. The centralized platform starts with the best intent to support the user base. Then over time the user base reaches the mass scale and the platform serves its shareholders over its community.
Verasity is designed to enable the online video economy and ecosystem, as a whole, by restructuring the relationship between Creators, Advertisers and Consumers. This is in contrast to existing video sharing platforms that attempt to facilitate an inherited ecosystem with multiple layers of intermediaries and vendors among ecosystem participants.
Verasity will fundamentally change the existing dynamics of how content is valued driven directly by consumer engagement. In a media economy driving inherited ads, the value is set for the demographics and the size of the audience, not the content itself. This abstraction layer changes the value of the content into high volume involvement that benefits the Advertiser, rather than the high-quality engagement that benefits the Consumer and Content Creator.
Verasity is developing next generation video sharing platform. This platform will empower the Creator and improve the online video viewing experience. There are many challenges that exist that are identified with online video spaces today. The media, technology and blockchain team of Verasity is building a new model in which Creators and Viewers deal directly in Blockchain, eliminating the need for intermediaries. The Verasity Player and online video platforms are fully functional and can be viewed at: verasity.io This includes the Verasity Wallet Player prototype.
The purpose of this platform is to bring the Creators and Viewers together to support the fabulous video content creation. "Spark" is a brand new in Marketplace where Audience can fund Content Creators using VERA. Creators can choose to sell "shares" (VeraSparks) on their channel to finance the production of new high quality content. Then those who have supported them can share in their success. To ensure transparency and integrity for the community, Verasity is developing its "Proof of View" technology.
Each video view will be tracked and stored securely in Blockchain. It provides security, flexibility and scale to support the evolving new environment for Content Publishers, Advertisers, and Audiences. The project vision is for the Verasity Protocol to also be adopted across the wider web and for VERA to be a cryptocurrency to drive the future of online video.
Veracity follows the following basic principles: A platform that provides trust, transparency and integrity to the video sharing community; Viewers should be able to purchase and view high quality videos across devices and operating systems anywhere in the world with no buffer, latency, or playback issues; Viewers should have the opportunity to sell their time-based attention to the highest bidder but are not required to do so to engage with the content; Viewers must be able to decide whether they want to receive targeted advertising and whether their demographic information can be used for targeting.
Creators must be able to easily upload, share, monetize and maintain their content distribution controls; Platforms should be optimized for a high-quality consumer experience while minimizing distribution costs thus creating more margins for Content Creators, and more affordable media for Consumers; There must be some monetization method that best fits each participant's perspective in the ecosystem where payment is processed and received in the near future; All value exchanges must remain within economies and ecosystems that support growth and innovation and ensure that all participants are given fair compensation for their contribution.
The truth fundamentally changes the online video ecosystem and the economy in the following ways: Verasity has developed a "Proof of View" patent system that is activated through blockchain technology, to provide accurate, secure, and auditable audience metrics. Without a credible audience metric, the content can not be accurately assessed; Verasity disrupts commercial dynamics from traditional media ecosystems by making the central Viewer of all content transactions, and making direct transactions between the Viewer and other participants in ecosystems such as Creators and Advertisers; Because of this direct link in the Verasity ecosystem, the success of the content is determined by the content consumption / judgment of the content by the audience community, rather than influenced by a third party monetization strategy.
Verasity summarizes the entire ecosystem and the economy of video sharing, for all participants. This results in all the exchange of values retained in the economy and society. In the old video sharing platform, the value will be lost to platform shareholders, third parties, and intermediaries, and thereby undermining the community as a whole; Through the Spark Marketplace, all participants in the economy can provide funding to the content channel in exchange for a portion of future revenue channels. As a result, both active participants in the economy and Speculators (outside the economy) have an additional way to grow the ecosystem and benefit from its growth.
Verasity uses Intelligent Contracts to facilitate all types of transactions within the ecosystem. Smart Contract is a digital construction within Blockchain that facilitates, verifies, and enforces agreements. They make transactions between instant participants without the need for third parties.
Verasity's built-in video player is optimized to deliver a high-quality, on-scale, high-quality video experience. VeraPlayer uses several new technologies to enable seamless commercial ecosystems, combined with the latest Internet protocol performance standards such as QUIC (UDP Fast Internet Connection). This is the innovative use of Secure Transport Layer Security (TLS) and User Datagram Protocol (UDP) reduces buffering, and increases video resolution for Audience.
Verasity comes in the form of a digital currency named VRA. The VRA Token will go on sale from May 21, 2018 to July 11, 2018, at a price of 100 VRA equivalent to 1 USD. The token purchase itself can be done with foreign currency such as ETH and BTC. Do not forget, get also purchase bonuses at certain time period.
Verasity itself is the result of teamwork in pancim by David Orman, Verasity strives to provide their best capabilities in this project. In addition, the team also strives to provide the best benefits and services, to anyone interested in joining the project.
Verasity has been designed and created by a team of highly experienced technology experts. Team members bring together expertise that gives them an in-depth understanding of the challenges many crypto companies face including legal, regulatory and compliance issues.
So that's all for review our ICO project for this time, hopefully can increase your knowledge in choosing the best project ICO to you invest. If you are interested in joining this project, or intend to buy a token in the sale. You can visit their official website and page below:
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