The way media is created and distributed has changed a lot over the last decade. People are consuming media that is produced by independent creatives on free platforms, like YouTube. Verasity could be the next killer app in the world of monetizing media online.
There has been a shift in how media is created and monetized. The people who make online media aren’t in a good position, and the major platforms make loads of money. Verasity has a solution that could help advertisers and creatives.
With Verasity advertisers would be sure that their message was connecting with its target audience, and media consumers could also benefit from the advertising they watch. Media creators would also be able to gain more from the advertising that their works promote.
More money for creators means more media, which is good for everyone.
Verasity Fixes a Broken Model
There are numerous issues with online advertising. One of the biggest problems for advertisers is the fact that they can pay for advertising, but due to ad blocking software, their message never reaches its audience.
The situation is just as difficult for media consumers. If you watch videos on the internet, your personal data is going to be collected, and likely sold by the platform. A website like YouTube charges companies to advertise and then collects users’ personal data as well.
For a platform like YouTube, the status quo in online advertising is a dream come true. No matter what the platform will make money, even if its users aren’t seeing the message they are being paid to distribute.
Verasity has the answer to this problem and has created a system that will interface with the most popular existing media platforms.
The Risks of New Infrastructure
There is no shortage of new blockchain-powered video platforms that are trying to fix the problem described above. Unfortunately, it is very hard to get people to leave a platform once they have gotten used to using it.
Verasity is clued into this problem and built its app to function with YouTube, Twitch, Kaltura, VideoJS, Flowplayer, Vimeo, JWPlayer, Brightcove, and Ooyala.
If you add all the traffic those platforms handle up, you would be looking at 95% of the videos that run on the internet. That makes Verasity’s app a contender for large-scale media monetization and a big advantage for online advertisers.
Verasity Works With the System
Instead of wondering if their message is getting through to its target audience, advertisers would know who is watching their ads. Creatives are also set to benefit Verasity’s app, which would help viewers know that watching ads online was worth their time.
In many ways, the mega media platforms that have emerged over the last decade are holding creatives back. While there have been a few big success stories in the YouTuber arena, very few people have been able to transcend the platform.
A platform like YouTube has a tremendous amount of power over what can, and cannot be said online. This has been demonstrated a few times over the last two years. No matter what you might think about the wild ideas that some people talk about online, the fact that the platform has more power than the creatives and audience is concerning.
Verasity gives creatives a lot more power in the area of monetization. Instead of being controlled by the whims of the platform, their earning power would be independent of any specific website. While a platform could remove a creative’s content, there would be no way for the platform to ‘demonetize’ content in the same way that exists now.
One Wallet, Many Platforms
Verasity’s app creates one wallet for media creators, regardless of the platform. The app unites all the loyalty and rewards programs into one wallet and gives advertisers the ability to connect directly with viewers.
By working within the existing online framework, Verasity has a much better chance of creating real change in the online media economy. Think about it from the perspective of a creator. If you make a great podcast or even a movie, you have no idea how much a platform could be making from your media.
Direct sales of media are possible, but the ‘free’ distribution model that relies on advertising has shown itself to be extremely effective. This puts creatives in a sticky situation. If creatives use free platforms like YouTube, they are likely to gain viewers, but making money from the media is much harder.
Despite all the flaws with the current model, there is a lot of great media out there. Verasity could be the next step in growing the online media creator business model and help the online media space become more transparent for everyone involved.
Verasity Puts The Media Ecosystem First
Designing realistic solutions takes a lot of skill. Verasity has created a new app that may be able to renew the entire online media revenue model because it is so simple to integrate with the existing online video distribution infrastructure.
Verasity’s app offers something to everyone in the online media ecosystem, especially those who have been overlooked by the current system.
One of the hardest things for an advertiser is knowing that the message they craft is kitting the demographic they need to connect with.
Verasity’s app is simple for online advertisers to start using, and it could help them if it is adopted on a wider scale. Knowing that an ad budget is well spent helps ad companies maintain their professional relationships, and show their clients that the message is hitting home.
Dealing with ads isn’t a lot of fun for media consumers.
Ad blocking software is an easy way out, but it undermines the business model of ‘free’ media platforms. Add to that the fact that personal data is collected and sold, and it isn’t hard to see why today’s media consumers feel jilted by the whole system.
Verasity’s app creates new levels of accountability and transparency in the online advertising arena. Keeping track of data is much easier, and there is little gray area because of blockchain’s remarkable record keeping ability.
Out of all the areas that will benefit from Verasity’s app, media creators probably stand to make the most in terms of financial returns. A direct payment system for media creators will help make new and bigger projects a reality, which is great for media consumers, and also advertisers who will be able to use the media to attract more attention!
Verasity has a good idea, which is ready to go live. The fact that the Verasity app is able to monetize content on the world’s biggest media platforms is a big plus from an adoption perspective.
If you want to learn more about Verasity, or how its app could help you, check out their website right here. Once media creators are able to gain more from their work, it is likely we will see a new era in online media creation.
With more and more people looking to ‘free’ media platforms for entertainment, Verasity has set itself up as a very promising blockchain company in a rapidly growing market.