Launched in 2018, Verasity (VRA) is a next-gen of video-sharing protocol, aimed at creating a fair system which not only allows the developers to earn but also offers a unique opportunity to advertisers to gain value over ad spend. Founded by a group of professionals from the video and media industry it is led by Mark R.J. and aims to increase engagement and eliminate ad fraud.
Powered by the Ethereum blockchain, the VRA token offers the users a patented Proof-of-View system which aims to resolve issues pertaining to video advertising and NFT fraud. The VRA token was making noise on Friday following its Huobi listing on 21 January.
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Huobi lists VRA token
Huobi opened VRA spot trading (VRA/USDT) from 5:00 UTC on the condition that its deposit volume meets the demand of market trading. Although the trading will begin on Friday, withdrawals will only start from 22 January 13:00 (UTC).
However, despite the announcement, it did little good to market sentiment as it was down by 8%. But while the price was down, there was movement in the volume, which was up 250% in the past 24 hours.
VRA is expected to boost the esports industry and online gaming community by offering a reliable Proof-of-View security functionality along with its video entertainment platform VeraPlayer.
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How is VRA faring?
Ranked 374 as per CoinMarketCap, the VRA token was trading at US$0.025695 with a 24-hour trading volume of US$85,452,246. At the time of drafting, Verasity was down by 4.86% over a day with a live market cap of US$114,863,007 and 4,470,185,346 VRA coins in circulation.
Verasity might prove a solution for esports fans and could act as a bridge between them and the crypto industry, boosting revenue for esports advertisers and enthusiasts. How well the token performs remains to be seen, and ever-looming is the hyper volatility of the crypto space.
