Analysis: Verasity's VRA Token

What Is Verasity’s VRA Token?

Verasity Token (VRA) powers a blockchain system designed to make digital advertising more honest and effective. Founded in 2017, Verasity uses technology to solve a major problem: ad fraud. The project combines artificial intelligence, machine learning, and blockchain to create better experiences for everyone involved in online videos and advertising.

VRA serves as the main currency within Verasity's ecosystem, fueling a transparent flow of value between advertisers, creators, and viewers. Originally created on the Ethereum blockchain as an ERC-20 token, VRA upgraded to the ERC-777 standard in 2021 to work more efficiently.

VRA Tokenomics Explained

Understanding VRA starts with its supply and distribution (per CoinMarketCap):

• Total Supply: 96.79 billion VRA tokens
• Circulating Supply: Approximately 9.79 billion tradeable tokens
• Maximum Supply: 100.24 billion tokens (including 90 billion non-tradeable Proof of View (POV) Marker tokens)

Verasity uses a deflationary model with a 'buyback-and-burn' program that permanently removes tokens from circulation. A significant milestone occurred in October 2023 with the 'Warchest Burn,' when 10 billion VRA tokens were permanently destroyed after a massive community vote involving over 500,000 community members. The vote was largely driven by the success of the VeraViews platform.

The burning process continued throughout 2024 with smaller but regular quarterly burns. For example, approximately 70.8 million VRA tokens were burned for Q2 2024. These ongoing burns have successfully reduced the circulating supply to below 10 billion tokens by mid-2024, helping to increase token scarcity in the market.

Key Uses of VRA Token

VRA serves multiple functions within the Verasity ecosystem:

• Advertising Payments: Companies spend VRA on VeraViews campaigns, while creators earn VRA for verified ads using Proof of View (POV).
• Viewer Rewards: Through the 'Watch & Earn' program, viewers earn VRA tokens by engaging with videos on sites that utilize Verasity's SDK.
• Staking Opportunities: VRA holders can stake tokens in VeraWallet, earning a 15% annual yield until 2026.

Esports Ecosystem: VRA powers tournament fees, prize pools, and subscriptions on VeraEsports.

What Makes VRA Different?

Patented Technology

Verasity's Proof of View (PoV) technology blends AI, machine learning, and blockchain to detect ad fraud in real-time, storing verified view data onchain. Patented in, among others, the U.S. and South Korea, it ensures advertisers pay only for real engagement. This verification technology has established Verasity as a pioneer in the digital advertising space, focusing on transparency and reducing wasteful ad spending.

Cross-Industry Utility

VRA bridges advertising, rewards, and esports, offering a broader utility than many niche tokens. This versatility gives the VRA token broader applications and potentially more stable demand than narrowly focused cryptocurrencies.

Where to Find and Store VRA

VRA is accessible through various trading platforms and storage options:

• Centralized Exchanges: KuCoin, OKX, Gate.io, Crypto.com are among the total of 15 exchanges
• Decentralized Exchanges: Uniswap and other DEX platforms
• VeraWallet: The official wallet with over 350,000 users that supports staking, security features, and a (planned) fiat off-ramp solution, serving as the ecosystem's primary wallet

These options provide proper liquidity for trading VRA. For maximum security, long-term holders typically prefer storing their tokens in VeraWallet rather than on exchanges, following the crypto principle "not your keys, not your coins." Additionally, using VeraWallet allows holders to access the attractive 15% annual staking rewards until 2026—a significant benefit not available when tokens are left on exchanges.

The Future of VRA

Verasity is doubling down on what it does best: fighting ad fraud and rewarding real viewers. One major project in the works since 2023 is moving 90 billion Proof of View (POV) Marker tokens to a new blockchain that can handle more transactions faster.

The team is also pushing to get VeraViews into more advertising platforms. The more publishers and advertisers who use Verasity's tech to verify real views, the more useful the VRA token becomes.

Regular token burns continue to reduce VRA's supply, making each token potentially more valuable over time. For anyone who cares about honest advertising, VRA offers something concrete in a space often filled with empty promises.

As ad fraud remains a billion-dollar problem for the industry, Verasity's practical approach stands out. Rather than just talking about blockchain solutions, they've built one that tackles a real problem advertisers face every day. To find out more about Verasity you can visit their website here.