As Verasity attempts to disrupt the status quo and initiate a revolution that ends demonization, it promises to put more money and control back into the hands of users and content creators. Verasity incentivizes its viewers and publishers by utilizing a blockchain solution that minimizes third party distributors, limits centralization, and ensures that all deserving participants share in the reward.
By moving away from designated central authorities in media, Verasity increases authenticity and implements a transparent ecosystem that showcases a phenomenal use case for Blockchain technology. Known to many as the impending Adpocalypse, current streaming services like YouTube, for example, currently have an absurd amount of control over the distributed advertisements and content creator’s pay.
Not only has this led to content creators continuing to see their profits diminish as YouTube claims a larger slice of the pie for itself, but they reap all the benefits as companies continue to pay them while users spend time watching their advertisements. This has become an ethical issue for many, where full-time content creators are finding it difficult to make ends meet and are required to initiate subscribed services to afford to make their videos.
Many current streaming platforms are as centralized platforms, where they answer to their shareholders instead of the viewers. The people who consume content are simply there to be monetized, but Verasity’s vision proposes a change to the industry standard.
By proposing a change to the centralized standard that acts as an intermediary between content creator and consumer, Verasity initiates a peer to peer relationship with no impediment to how they conduct their business practices and video production. The content creator produces content at their discretion and will do so in a similar fashion that they are accustomed to without the overhead of a central authority.
Verasity prides itself on transparency and liberating content creators while creating a more enjoyable experience for viewers. Through Verasity’s ecosystem, viewers are rewarded for the ads they watch as well as control the ads that are presented to them.
By opting in and out of viewing ads they deem as relevant, Verasity ensures that viewers are acknowledged as an integral part of the content creation experience and incentivizes their ad viewing with VERA tokens. Also, dedicated content consumers have the option to invest in channels that they think have enormous potential and partake in the channel’s success.
For content creators, they now have a plethora of opportunities in which they can get rewarded and can look forward to a more significant payday without the impeding third party users that tack on a hefty fee. From viewer donations, exclusive content, monthly subscriptions, and advertising, the content creator now has more control over their channel and can treat it like a proper business.
Unique to Verasity, however, is the Sparx marketplace that is perhaps the most appealing feature to creators and consumers alike. By offering a stake in their channel, content creators have access to liquid funds, while stakeholders can share in earnings.
Instead of getting paid based on views and other guidelines designated by administrators, staking aligns your views and pay with your audience, guaranteeing producers stay true to their channel and value. These stakes can be traded amongst different content consumers and will reflect a real-time market, allowing for an exciting and rewarding experience for all that take the initiative.
For many industries, blockchain is the solution that eliminates the need for central authorities, as well as the associated fees that come along with them. We’ve seen the utility of Blockchain applied to finance by eliminating the need for centralized banking, and we are on the verge of seeing it revolutionize entertainment.
Frustrated content creators have already started to migrate to alternative platforms such as Patreon that give them more control over their content. Consumers feel disenfranchised as they are the ones responsible for bringing content creators fame and monetary value, but that central authorities have more power in designating what creators will continue to produce.
The future of entertainment looks bright, with companies like Verasity taking the initiative to empower those involved and eliminate those that continue to benefit without contributing any real value.
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