Verasity, an Ethereum-based platform that allows video publishers to implement reward programs and subscription services, announced on Thursday it has integrated with Vimeo.
The integration enables Vimeo viewers to earn VRA — Verasity’s native token — for watching ads and videos, which can be donated to publishers or used as a payment for subscription services. Publishers can reward viewership by introducing loyalty programs, while also receiving a new source of revenue.
Vimeo boasts over 1.15 million creators, 260 million users and 50 billion monthly views — making it one of the largest video streaming services in the world. Having access to such a large viewership could indeed propel Verasity into mainstream adoption.
A spokesperson from Verasity expressed the company’s enthusiasm in a press release on Thursday, revealing how Verasity’s player “benefits both advertisers and brands.” They added:
“We are very excited to announce these new integrations that allow publishers to add our Video Reward module quickly to their existing online video platforms. By integrating Verasity’s technology into video publishers existing systems, we have significantly reduced the initial setup requirements to on-board even the largest video publishers.”
Verasity first made headlines last year when they partnered with Asian radio chart show AsiaPop40. Indeed, Verasity have since integrated their video rewarded player with JW Player, Brightcove, and Video.js, but Vimeo is by far their largest partnership yet.
The VRA Token
VRA, the utility token that serves as the backbone for Verasity’s rewarded player, is an ERC-20 token on the Ethereum blockchain. The smart contract has been audited by Deqode — full details of which can be found here.
At the time of writing, the token is trading at a price of $0.000982, or 0.00000596 ETH, largely on HitBTC.