[PRESS RELEASE – London, United Kingdom, 23rd November 2022]
Verasity, an open-ledger ecosystem designed to offer rewarded video companies and forestall promoting fraud, introduced in the present day that it has acquired full patent approval for its rewarded video system and methodology in america (with worldwide precedence). The patent approval represents Verasity’s most vital milestone in defending and licensing its rewarded video expertise to this point.
Rewarded video is any sort of incentivised viewing that gives rewards to customers for watching a video. The rewarded video format is especially in style in cellular gaming, the place customers could obtain in-game credit, gadgets, foreign money, and even conventional money as a reward for watching video content material or advertisements displayed inside an app. All of a lot of these rewarded video would now fall below Verasity’s patent, entitled ‘System and Methodology for Reward Video Viewing’, and for which license charges can be due.
Throughout the Verasity ecosystem, rewarded video is made obtainable via a characteristic named Watch & Earn. Comprising a rewarded viewing video distribution module and a video participant, Watch & Earn can current video content material to a person and supply the viewer with market credit score primarily based on the worth of the video or commercial they watch.
Nevertheless, Verasity’s awarded patent extra broadly covers any video in any digital format for which a reward is granted to the viewer – opening up an entire host of recent enterprise and licensing alternatives.
Highlighting the importance of the patent, R J Mark, Founder & CEO at Verasity, says:
“Rewarded video is a large and quickly increasing market. This patent is the end result of years of arduous work by the Verasity group to safe an internationally recognised patent for the rewarded video market. This patent covers all types of video the place a person receives any sort of reward for watching a video on a digital platform.
Rewarded video has already been deployed by main video games firms akin to Blizzard Activision, and main video platforms akin to YouTube which can now be infringing our patent. As Verasity has been awarded the US patent for all types of rewarded video, we intend to make use of this patent to its full impact, pursuing license alternatives for all platforms offering rewards to video viewers, which is now protected by our patent. The income generated from these license offers can be used for VRA buybacks.”
The rewarded patent software might be seen right here. Verasity will now search alternatives to license its rewarded video expertise and guarantee its mental property is protected inside the scope of this patent for all types of rewarded video.
Verasity is an open-ledger ecosystem designed to struggle promoting fraud, present open entry to infrastructure for publishers and advertisers, and reward customers for watching video content material. With product verticals within the promoting, eSports, and video participant industries, Verasity ties collectively its ecosystem with its patented ‘Proof of View’ blockchain-based expertise. The $VRA token, which is used for funding promoting campaigns, staking via VeraWallet, and distributing Watch & Earn rewards, is central to the Verasity ecosystem as a single utility token with an entire host of purposes. Be taught extra about Verasity at www.verasity.io
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