Can Verasity deliver real statistical benefits to online advertisers?
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In the online world, it can be hard to keep track of who might be viewing your adverts. The Verasity network and its associated VRA coin is used in an attempt to solve that particular problem. But what is verasity (VRA)? How does verasity work? What is verasity used for? What is the verasity price prediction? Let’s take a look.
Verasity explained
The verasity (VRA) cryptocurrency is the native token of the Verasity platform. This online mechanism allows people to compete in esports events, as well as allowing people to stream live videos. Users have the opportunity to earn VRA by using the network, as well as by subscribing to events and winning competitions.
One of the problems that Verasity is aiming to solve is what it describes as wasted advertising. The white paper argues that “out of some $400 Billion of online ads, as many as 40% or approximately $160 Billion worth are seen by bots and not humans”, and aims to put a stop to that. It hopes to do it by using something called Proof of View, which will use the blockchain to eliminate records of bot views of adverts, thus allowing companies to advertise in a way they know will allow them to keep track of the number of human beings seeing their adverts.
The organisation, which was founded in 2018 by the London-based entrepreneur RJ Mark, also aims to make use of its veraesports.com website to deliver non-fungible tokens (NFTs) to collectors, as well as tracking if they are falsely used. VRA is the token that helps keep the system moving, being used for both rewards and for staking.
Verasity price history
Let’s look at the verasity price history. While past performance is no indicator of future results, knowing what VRA has done can help us when it comes to interpreting a verasity price prediction.
When verasity came onto the open market in April 2019, it was worth around $0.0005. It mainly stayed around this price for the next two years or so, with the occasional foray above the $0.001 mark, but not exactly setting the world of cryptocurrency on fire. Things started to change in March 2021. The first few months of that year were a boom time for crypto, and VRA was caught up in the action. It broke through the cent barrier on 13 March, when it scored an intraday high of $0.01136 and closed at $0.01087. The overall trajectory at this time was upward and, on 17 April, it reached a periodic high of $0.05583. The price started to float back down and this price reduction was exacerbated by the events of 19 May’s great crypto day crash, with the price dropping below the cent mark for the first time since March.
Verasity stayed in the doldrums for a while, but there was some recovery in August and, towards the end of the month, it was back to where it had been in May. While September saw downward movement, the market became bullish again in October and the coin moved upwards until it hit its all-time high of $0.08683 on 1 November. Again, however, there was ultimately a downturn, as the crypto market was hit by uncertainty related to the Omicron variant of Covid-19, and the crypto closed the year at $0.03421.
VRA was still unable to break free of a gloomy market, and the slump continued, with verasity being worth about $0.0275 on 19 January. At this time, there were 4.47 billion verasity in circulation out of a maximum supply of 10,356,466,695. This gave it a market cap of a little under $123m (£90.34m), making it the 378th largest crypto by that particular metric.
Verasity price forecast
Longer-term crypto forecasts are very often wrong. We also need to point out that longer-term crypto predictions are often made using an algorithm, which means that they can change at any time.
First off, gov.capital has a verasity price prediction for 2022 that sees the coin reach somewhere in the region of $0.0763 on December 31 this year. The site goes on to suggest that the crypto will be worth somewhere around $0.16 on 19 January 2024, before going up to about $0.26 a year on from then. On 19 January 2026, VRA should be worth around $0.38 and 12 months after that it should be around $0.525.
NewsBitcoin247 has a verasity crypto price prediction that says it should reach an average of $0.04 this year, rising to $0.057 in 2023 and $0.087 in 2024. The site’s verasity price prediction for 2025 sees the coin break the $0.10 barrier and trade at $0.12, before it goes up to be worth $0.18 in 2026 and $0.26 in 2027. The average price forecast for 2028 is $0.38 and it should close the 2020s at around $0.54 before starting the 2030s with an average price of $0.83. There will then be a pretty significant move in 2031, when VRA will be worth around $1.16.
TechNewsLeader is similarly bullish when it comes to its VRA price prediction. The site suggests the coin can get as high as $0.040 this year before going to $0.059 next year. In 2024, verasity can get to $0.089, while there is optimism that the crypto can get above $0.10 in 2025 and trade at $0.13. In 2026, the coin should reach $0.18 and in 2027, the target price is $0.28, rising to $0.40 the following year. It can finish the decade at $0.61, while the verasity price prediction for 2030 is $0.85, before the coin faces the possibility of being worth $1.19 in 2031.
Finally, Digitalcoin is far more cautious in its outlook, although it does suggest, in its verasity coin price prediction, that VRA will go up over time. It says the forecast for 2022 is $0.0375, rising to $0.0454 in 2023 and $0.0491 in 2024. There will be another rise to $0.0616 in 2025, it believes, before the market turns bearish and the price falls back down to $0.0531 the following year. The token will then make a recovery, it thinks, hitting $0.0815 in 2027. The site suggests VRA can go past $0.10 quite a bit later than other predictions, and it will reach $0.1016 in 2028 and get to $0.1173 in 2029. In other words, a notable rise, but it is not as meteoric as some other forecasts.
Closing comments
A few final points. While verasity is a very interesting idea, it is unclear as to whether the system can truly expand and become a key component of the streaming world.
Second, while the idea may be beneficial to businesses that advertise online, it is also possible that another organisation could come along and become more successful than verasity. Furthermore, the coin has not managed to escape the downward trend that has been hitting the crypto market lately. We shall have to wait and see what happens.
FAQs
As of 19 January, there were 4.47 billion verasity in circulation out of a maximum supply of 10,356,466,695.
It might be. Compared to 12 months ago, the coin has blossomed. However, it has lost around 70% of the value it had at the start of November. This could mean that it may never reach those heights again, but it could mean that we are in a dip, and there is a strong belief among many crypto enthusiasts that a dip is exactly the best time to buy a crypto. Nevertheless, you will need to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.
It might do. Keep in mind that the predictions seem to be pretty bullish, although how bullish is entirely another matter. You should also remember that forecasts, especially for something as volatile as crypto, can be wrong, so you will need to exercise caution.
This is a question that only you can answer for yourself. Before you do, you will need to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.
