Why Verasity Looks Ready To Go 20x

Why Verasity Looks Ready To Go 20x

By AnalystX | CryptoTrendMiners | 18 Feb 2020


In the last two months, the cryptocurrency market has gone through a revival of sorts, which has seen most popular cryptocurrencies rack up impressive gains in a short space of time.

Though impressive, few cryptocurrencies have managed to generate the meteoric gains akin to that seen during the 2017 bull run. Nonetheless, traders are still out in droves looking for the next big thing that might do exactly that.

With that in mind, here’s why we think Verasity has a great shot at netting incredible returns this year, and is definitely worth keeping an eye on.

What is Verasity, Exactly?

Billed as the attention-based platform for video, gaming and entertainment rewards, Verasity is a relatively small blockchain project that looks to revolutionize the way content creators and brands interact with their viewers.

In brief, Verasity has produced a clever new video player module that publishers can use to reward viewers that watch their content. As it stands, this solution already works with 95% of the most popular video players, including YouTube, Twitch, Vimeo and more, allowing publishers to easily reach millions with their content.

This ecosystem is powered by the Verasity token (VRA / VRAB) which viewers earn while watching Verasity-enabled videos on their favorite platforms. Publishers looking to use Verasity’s technology to reward their viewers are incentivized to purchase these tokens on the open market to fund their campaigns, thereby providing added value to their viewers while simultaneously boosting viewership.

The Potential for 20x is Real

As it stands, Verasity has a market capitalization of just over $3.5 million. Comparatively, a similar project to Verasity, Basic Attention Token (BAT), has a market capitalization in excess of $400 million.

Put simply, Basic Attention Token has a market capitalization more than 100x larger than that of Verasity. However, in terms of adoption, Basic Attention Token (BAT) hasn’t quite edged Verasity by the same degree.

According to a December 2019 metrics update, Verasity managed to rack up a total of 63,000 wallet registrations over the course of just seven months and pulled in almost 8 million views for its VRA-rewarded videos at the same time. Comparatively, recent estimates indicate that there are around 400,000 BAT wallets in existence—barely six times more than Verasity has at a market capitalization 100x higher.

Top Exchanges

Beyond this, Verasity has also made strong moves in the liquidity department and was recently listed on Bittrex, currently regarded as of the most popular exchange platforms. This, in combination with its listing on KuCoin just three months ago indicates the rapid pace of Verasity's adoption.

Listing on two of the most popular and liquid cryptocurrency exchange platforms within such a short space of time is an impressive show of strength for the project, since both exchanges perform stringent due diligence checks on any potential listing candidates.

Having been accepted by both Bittrex and KuCoin in less than three months, it is unlikely to be long before Verasity is listed on a global top five exchange—thereby massively boosting both its liquidity and desirability.

As such, it is clear that Verasity is massively undervalued right now, since even 20x growth would still place the project at just one fifth the size of Basic Attention Token.

Mass Adoption

Although Verasity has already achieved a great deal in its less than two years of existence, what comes next might just be what is needed to propel the project into the spotlight.

One of the main reasons why 2020 is shaping up to be a promising year for the video-based rewards platform is the impending launch of its blockchain-powered game store. Verasity's Game Store was formed through a partnership with GameZBoost—one of the world's leading white-label game platform providers.

This new platform will feature games from more than 550 popular publishers, including the likes of BigPoint, European Games Group, Bytro Labs, in addition to GameZBoost created titles. By integrating its advertising stack with its new game platform, Verasity will enable video game publishers to improve the monetization of their games, while bringing additional value to the players.

According to its recent announcement, the game store is due to go live sometime in Q1 this year. Verasity also teased that players will be able to exchange their VRA for rewards for vouchers for popular brands, including Amazon, McDonalds and more.

Although this is a big deal for blockchain in general, Verasity will likely be the first to benefit from the new platform. By exposing some of the biggest names in the gaming industry to the potential of its token, Verasity will likely see an explosion in interest as publishers look to purchase VRA on exchanges of the upcoming Verasity fiat-to-VRA gateway to power their game loyalty schemes.

Verasity doesn't just plan to launch its game dashboard this year either. By the end of the year, the project hopes to release its own VRA credit card, launch its mainnet on another blockchain, and have more than 1,000 publishers and 10 million viewers using its technology.

All in all, even if Verasity achieves just a fraction of its plans for 2020, tremendous growth could be in order.


AnalystX
AnalystX

Deep Crypto Market Insights. Trend Analysis. Insider News.


CryptoTrendMiners
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