Jun 28, 2022 11:10
Verasity (VRA) has weakened from $0.0079 to $0.0044 since June 01, 2022, and the current price stands at $0.0052.
The cryptocurrency market is losing value this Tuesday, Bitcoin is trading very close to the support level at $20,000, and if you decide to buy VRA in the upcoming days, you should consider that it can weaken even more.
Verasity helps to eliminate ad fraud
Verasity is a blockchain project that helps to eliminate ad fraud across video advertising channels and aims to increase advertising revenues for video publishers.
Last year, advertising spending reached $455 billion worldwide, and by 2024, it’s estimated that it will be over $645 billion.
However, to date, more than 40% of this ad spend is lost to ad fraud, and there are over 2 million video publishers struggling with the problem that brands no longer want to pay as much for their ad space.
This is happening because billions of dollars in advertising spend are consumed by bots, not humans, and big brands have no reason to believe that humans are actually watching their ads.
Verasity aims to solve this problem because its patented Proof of View technology detects and eliminates ad fraud and records genuine human views of ads and video content. The Proof of View technology also prevents the multiple methods bad actors may try to manipulate view counts and audience metrics. The team of Verasity said:
Brands are typically willing to pay 5 to 10 times more if they are convinced that ad fraud levels are low. With Verasity, advertisers don’t need to be convinced, as viewership can be immutably and transparently proved on the blockchain.
Verasity has received a US patent for its proprietary technology that helps eliminate ad fraud, and it is also important to mention that all of Verasity’s market-leading ad tech products are combined into one Esports platform called VeraEsports.
VeraEsports secures rights to exclusive Esports tournament broadcasts and enables Verasity to make Esports content available to content broadcasters worldwide.
VRA is a cryptocurrency that powers Verasity and this crypto is used as a medium of exchange exclusively for the online gaming and video economy. VRA is also used to incentivize network participants, and transactions of VRA happen over the blockchain from within the VeraWallet.
Technical analysis
Verasity (VRA) was a bad performer during the last several months, and technically looking, it still remains under pressure.
Data source: tradingview.com
The current support level stands at $0.0050, and if the price falls below it, the next price target could be at $0.0040 or even below.
Summary
Verasity is a blockchain project that helps to eliminate ad fraud across video advertising channels and aims to increase advertising revenues for video publishers. Verasity (VRA) is currently trading more than 80% off from its 2022 highs, and if you decide to buy this cryptocurrency in July, you should consider that the price can weaken even more.
The post Verasity (VRA) price prediction for July 2022 appeared first on Invezz.
from Market Analysis – Invezz
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