The industry is changing rapidly
Media consumption has changed drastically over the last ten years. Not only because we consume more content through social media, but also due to paid streaming services have completely taken over linear TV. In addition to this, you have YouTube that is now promoted, which is a recent winner for manufactured content. Traps are now set all over for consumers who have to pay to be entertained, either by spending time advertising or paying a monthly fee.
If we say, that this is the most important thing that we as humans allocate our time too, in terms of attention. Why is it that we don’t get paid to consume content or watch advertisements? Can it be that an employers will incentivize employees to watch an instructional video by providing them with benefits for completed training?
Get paid for your attention
Verasity is a project that wants to reward consumers for designing content, through video, games or other entertainment. In short, ‘Attention-based platform for reward for video, games and entertainment’.
The Verasity build platform includes a video player, a reward module, a wallet and a verification / analysis module. That means in media houses and businesses are buying an end to end solution, which can reward the audience for seeing the content.
The most obvious element is to announce direct ads with concepts, so that, for example, Dr.Oetker can pay the audience Verasity points to see an advertisement about one of their pizzas. The audience can get a discount on the Grandiosa purchase by using points. Or sell the points in Symbol. This is built on an open blockchain that is marketable.
Another area of application is in business in general, where the company can reward employees for completing training or participating in the Friday meeting that takes place online.
Recently, we have read about how several of the major newspaper houses in Norway experienced increased revenue after many years of reduced margins. The transition from paper to the web was reinforced by social media and changing consumer habits. It really looks like it will be an even bigger challenge in terms of direct payment from ads to the consumer.