An increasingly popular way of selling digital content is on an all-you-can-eat subscription basis. Further, by combining content from many different sources, a channel can be made increasingly attractive. These ingredients can be the basis for building successful channels, especially for valuable, hard-to-monetize content, such as instructional, news, event, and special interest videos.
Combining content from multiple sources raises the thorny issue of fair compensation. Nevertheless, a verifiable revenue sharing system opens up the possibility of making video channels more profitable and less costly to build. A trustworthy system where compensation is based on subscriber usage could replace the complexity and risk of fixed price contracts.Instead of requiring advance payment, subscriber usage becomes the basis for content compensation. Editors should be able to pick and organize videos efficiently, without the burden of financial decisions. Thus, revenue sharing makes it possible to build more profitable video channels for less up-front investment.
What’s needed is a platform that allows publishers to combine videos from multiple sources and pay based on relative viewing times. The underlying model is simple: publishers of curated video channels pay content providers by splitting subscription revenues transparently, based on metered usage. Money could be credited to each party’s account on a daily basis.By incorporating blockchain ledger accounting of subscription revenues and payments, these verifiable, immutable financial transactions can be tied back to the viewing details. In this way, a revenue sharing system can be sufficiently fraud-resistant to work for the largest publishers and the most valuable content.
Verasity.io is a leading video player providing unique Rewarded Video Player Technology to major video publishers across the globe. The patent-pending Video Player enables VRA rewards, monetization and loyalty schemes within the video player wallet.
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.
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.
The Verasity economy is powered by the VRA token. The process of using Verasity app is close-loop. Publishers buy VRA from exchanges to fund their campaigns – viewers enjoy greater content and earn VRA. Then viewers watch ads to earn more VRA, thus allowing publishers to earn VRA and spend it on creating greater content. Viewers can donate VRA to their favorite content creators, spend them on goods and services, as well as sell them for BTC or ETH.
This is the first-time video ads can be rewarded inside a video player wallet and represents a major step in the evolution of Verasity. thegas.net is the first of many websites that expect to sign up with Verasity in the near future to reward VRA to viewers that watch video ads on premium content. Major brands are signing up to be part of the ad demand network which will drive larger publishers to reward VRA for ads and content. (As new ad sites join they can be found at https://verawallet.tv/earn-vra)
This Verasity development completes the technical components for the Economics 2.0 :
- When Publishers sign up, they add the Verasity SDK module to their video player, create an escrow account in VeraWallet with VRA bought from exchanges and set up a reward campaign to suit their business needs.
- The viewer can watch ads before the video starts. If so, they can earn more VRA rewards. This generates additional revenue which is used to purchase VRA on exchanges.
- The VRA is purchased on exchanges and Publishers use this VRA to offer further rewards and thus restart the virtuous VRA economic cycle.
- Every quarter, the Foundation uses the FIAT funds collected from transaction fees and ad revenues to buy back VRA from the exchanges.
Viewers rewarded VRA have to sign up for a VeraWallet which expands the Verasity viewer base. They can choose to stake their tokens and earn a 36.5% annual interest at VeraWallet.tv, buy more VRA from the exchange or spend VRA directly on goods and services via partnerships Verasity will have or donate VRA to support the creator or Publisher.Verasity has a partnership with Binance Chain, a blockchain software system developed by Binance in a move that will bring about a new incentivised video economy. You can easily buy VRA token on binance Dex.
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