[PRESS RELEASE – London, United Kingdom, 23rd November 2022]
Verasity, an open ledger ecosystem designed to deliver rewarded video services and prevent ad fraud, announced today that it has been granted a full patent in the United States (with international priority) for its rewarded video system and methodology. Approval has been received. The patent approval marks the most significant milestone to date in protecting and licensing Verasity’s award-winning video technology.
Rewarded video is any form of incentive viewing that rewards users for watching a video. The reward video format is especially popular in mobile gaming, where users can receive in-game credits, items, currency, or even traditional cash as a reward for watching video content or ads displayed in the app. Hey. All such rewarded videos are now covered by Verasity’s patent titled ‘System and Method for Rewarded Video Viewing’, for which a license fee is payable.
Within the Veracity ecosystem, rewarded videos are made available through a feature called Watch & Earn. Consisting of a rewarded video distribution module and a video player, Watch & Earn can showcase users’ video content and award marketplace points to the viewer based on the value of the video or ad they view.
However, Verasity’s award-winning patent more broadly covers any video in any digital format, rewarding viewers for it, opening up a slew of new business and licensing opportunities.
RJ Mark, founder and CEO of Veracity, emphasizes the importance of patents and says:
“Rewarded video is a huge and rapidly growing market. This patent is the culmination of years of hard work by the Veracity team to secure internationally recognized patents for the award-winning video market. This patent covers all forms of video. Where the user gets a reward for watching video on a digital platform.
Awarded videos that have already been deployed by major game companies such as Blizzard Activision and major video platforms such as YouTube may now be infringing our patents. Since Verasity has been granted a US patent for all forms of rewarded video, we intend to take full advantage of this patent by pursuing licensing opportunities for all platforms that provide rewards to video viewers, which are now protected by our patent. The proceeds from these licensing deals will be used to buy back VRA.
The granted patent application can be viewed here. Verasity will now seek opportunities to license its award-winning video technology and ensure that its intellectual property is protected under this patent for all forms of award-winning video.
Veracity is an open ledger ecosystem designed to fight ad fraud, provide publishers and advertisers with open access to the infrastructure, and reward users for watching video content. With product verticals in the advertising, eSports and video player industries, Veracity is adding to its ecosystem with its proprietary ‘Proof of View’ blockchain-based technology. The $VRA token, which is used for funding advertising campaigns, wagering through VeraWallet, and distributing Watch & Earn rewards, is intended to serve as a single utility token for the Veracity ecosystem as well as a suite of applications. Learn more about Verasity at www.verasity.io
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