Verasity Scores Big with Binance Chain Partnership
The past two years have been an exciting time for those involved in the blockchain and cryptocurrency space. Although the market has taken traders for a wild ride, blockchain technology and adoption continue to march forward. But with a constant flow of startups entering the market, traders and investors will have to do more due diligence than ever, in order to identify which companies are the most likely to succeed. In order to prosper, companies will need to do two things; sign strategic partnerships and build a platform that has real world use. One company that appears to have done both is Verasity (VRA).
What is Verasity?
Verasity is a leading video platform providing unique rewarded player technology to premier publishers throughout the world. The company’s patent-pending Video Rewards Player enables tokenized rewards (VRA), monetization, and loyalty programs within the player wallet. This technology has been made available to more than 1.6 million video publishers with approximately 550 million users. Given the demand for gaming and game creation, and Verasity’s ability to identify valuable strategic partners such as Binance Chain, future growth appears extremely promising.
Binance Chain Partnership
On Friday, Verasity announced a strategic partnership with Binance Chain, a blockchain software system developed by Binance and the community. This partnership will go a long way toward bringing about a new incentivized video economy that should help clear the path for more global publishers, creators and advertisers to enter the crypto space.
Changpeng Zhao, the CEO & Founder of Binance, and one of the most recognizable names in all of crypto had this to say on the partnership: “Video is a powerful tool to educate, engage and entertain. Verasity’s video player solution offers the perfect vehicle for viewers, publishers and content creators to benefit from the utility of blockchain technology. I’m glad that Binance and Verasity are leading that charge globally.”
This partnership comes at the ideal time as Binance is the hottest name in cryptocurrency thanks to the growth of its native currency, Binance Coin (BNB).
As traders can see from the chart above, the BNB currency has skyrocketed thanks to creative and business savvy policies implemented by Binance such as:
- Utility through platform trading discounts
- Coin Burning
- IEOs to generate more listings and therefore, more trading revenue
Mark Hain, the co-founder of Verasity had this to say about the Binance Chain partnership: “Building on the Binance Chain protocol enhances our platform as its one second block time confirmations make it faster and cheaper to send and receive transactions, pivotal for the success of a microtransaction blockchain platform. The power of the Binance community and liquidity in BNB will also add great power to the Verasity project.”
While the Binance partnership shows Verasity’s ability to close strong deals, it certainly isn’t the only strong news announcement the company has made this month.
Earlier this week, Verasity announced that its Video Rewarded Player was fully integrated with YouTube. This is a huge announcement given that YouTube has approximately 150 billion page views per month and is widely regarded as the world’s leading video player.
The first YouTube integration of the VRP will be with a premier eSports organization called 3DMAX. The Verasity player will help 3DMAX maintain its status as a leading community among gaming enthusiasts as it will be the first to offer its viewers the Verasity native token, VRA. As YouTube continues to integrate Verasity’s technology into its platform, VRA holders can expect significant adoption and price appreciation well into the foreseeable future.
Gaming is one of the fastest growing industries in the world and companies that can develop technology to advance the industry are likely to experience significant adoption and revenue growth. As Verasity continues to sign strategic partners such as Binance Chain and YouTube, crypto traders should keep VRA firmly on their radar.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Chart via CoinMarketCap.