You’ve heard a ton about Verasity, but do you know how it might perform in the future? Are you aware of the latest trends in Verasity? They are developing some game-changing technology based around blockchain, so let’s take a look at how the Verasity token might perform in 2023.
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To understand how Verasity might perform in 2023, we will have to go back in time and take a look at the price history of Verasity.
Price history of Verasity
Back in April of 2019, when the project was launched, each EAC Verasity token was worth 1/20 of a cent. This didn’t change much over the duration of 2019 and 2020. The cryptocurrency would often peak and trade at 1/10 of a cent. However, these highs didn’t last long.
Things soon changed. Early 2021 rolled around and the crypto market was on fire and so was VRA. Within the first three months of 2021, VRA had crossed the one-cent mark and kept on going higher. The token was soon worth more than 5 cents, growing by more than 10,000% in a matter of weeks, but the highs did not last long. Soon the charts started to fall, but with the highly bullish market of October 2021, the token hit another all-time high of 8 and 1/2 cents.
However, by November, omicron had its effect on the financial ecosystem, basically crippling a ton of cryptocurrencies, and VRA finished the year at a low point, being worth only 3 cents. In 2022, the token kept dipping, and by the end of January, it was worth only 2 cents. In February, Verasity announced that their VeraEsports platform would be the official Esports’ partner for the famous online short Valorant’s Champions Tour Asia-Pacific Challengers 2021. The VeraEsports event was the only platform to consume content related to that event, and as you might have guessed, such a big partnership boosted the price of VRA back to 3 cents.
The high again didn’t last long. The war between Ukraine and Russia broke out and the financial world was shaken to the core. Verasity started March of 2022 at 2.4 cents with a downward trend, and by the end of the month it was trading at only 2.1 cents. Recently, it has made a slight recovery, and the tokens are valued at 2.5 cents each. Now that we have a good understanding of how Verasity trends have been in the past, let’s look at how they might perform in the future.
The market sentiment regarding its Verasity seems very positive. Expert analysts like GOV Capital predict that VRA will peak at 5 cents by the end of 2022. According to them, in Verasity, it will start at 6 cents in 2023 and by Q2 2023 it will easily trade at 13 cents, even though long-term predictions are hit or miss. GOV Capital believes that by 2025, VRA will be worth more than 25 cents and will be worth more than 25 cents by 2027.It might almost double again to be valued at half a dollar.
However, some market analysts from News Bitcoin 24/7 believe that the growth of VRA will be much slower than the token, crossing the 10 cent barrier, which is predicted to be somewhere in 2026. The half-dollar mark, well, they believe that it’s not coming before the next decade, with estimates saying VRA will be trading at 52 cents by early 2031. To better understand the predictions, we must take a look at the tokenomics of the project.
Tokenomics of the project
The token has a maximum supply of 10 billion tokens, so nearly 40% of it is in current circulation, and if you like staking your cryptocurrencies for some passive income, Verasity offers a whopping 18.25% per annum staking bonus. The majority of the best analysts in the market believe that VRA will easily trade at an average value of 18 cents in 2023, with peaks easily crossing 20 cents. The ideas and solutions Verasity brings to the table are very interesting and new, so it is still unclear how it might play out in the future.
One of these solutions is Verasity’s proof-of-view protocol powered platforms called VeraView. This platform is specifically designed and catered towards the $100 billion digital ad industry. When you see ads on the side of a webpage, they are often treated as if they reached a human eye. In some cases, the ads are shown to computers that create interactions and trick the publishers and advertisers into believing the ads reached a human and got genuine engagement. This is known as ad fraud, and it is wreaking havoc on this multibillion-dollar industry, with nearly $42 billion lost due to ad fraud alone. Most of the time, it’s not even done with malicious intent. Ad fraud can take place in the form of loading multiple sources parallelly on different tabs or windows or just running video ads on a loop, but most of the time it’s done for more malicious reasons, like manipulating the analytics of an ad campaign to remediate this issue.
VeraView uses proof-of-view technology to analyze the user’s behavior and device parameters in a non-invasive manner. So as to not drive away engagement, the data is Fed to AI to determine whether the engagement was real or fake, and the advertisers only have to pay for ads that impact real users. This way, ad publishers don’t lose credibility, advertisers don’t lose money, and the whole advertising industry grows as a whole.
Another industry-changing anti-fraud solution from Verasity is their NFT authentication system. As crypto enthusiasts, we all know that NFT is plagued with fraud from rug pulls and projects that never deliver to straight up forged NFTs.
NFTs on their own are an amazing idea that allows users to have true digital ownership, but scammers and swindlers have made NFT markets their new home in hopes of making a quick buck or two. Most of the common frauds, like selling fake NFTs, forging content without the owner’s permission, making NFTs of brands without consent, removing the content after the entity is sold, can all be remediated by keeping a publicly auditable ledger of all the changes made to the NFT during its lifetime. In this way, new buyers can verify the authenticity of the NFT artist, the entity’s originality, and even the authenticity of the platform on which they want to buy the NFT.
But so far, the biggest and best product lineup offered by Verasity is VeraEsports. Instead of watching gameplay or any other streaming platform gamers can use VeraEsports to consume gaming content and earn at the same time. The points earned can then be redeemed in the store. VeraEsports even works with players’ teams and e-sport tournament hosts where VRA is used as the primary tournament reward.
Crypto enthusiasts can even buy NFTs of gaming moments for their digital collection using VeraEsports. So far, the platform has had a very positive impact and has partnered up with esport ghistas like PUBG Mobile, Valorent, Athena Gaming, and the game developers Tencent. Verasity plans to merge the world of gaming and crypto currencies with VeraEsports. This allows them to tap into a multi-billion dollar gaming and content streaming industry and set a global standard for playing, watching, and earning rewards for playing games.
Price Prediction of 2023
So as you can see, with a lineup of amazing solutions like this and a few more, Verasity is pretty set for the future. The project offers true utility and has a very promising roadmap. By comparing the price history, we can say that the predicted price of 18 cents can easily be achieved by 2023.
What do you think? Will Verasity gain momentum and cross its previous high to trade at an all-time high of 18 cents by next year, or will it be in the next decade like some skeptics think? I personally believe, that the product stack and utility that Verasity brings to the table will change the way we look at blockchain itself, and 18 cents will be an easy achievement for Verasity by 2023.
[This article is a transcription of a video made by Crypto Diary]Original video: https://youtu.be/LI6lF3xH1RU ]