Cryptocurrency
(Corrected) Exclusive Q&A with RJ Mark, Co-Founder of Verasity
Verasity is venturing into new fields of online gaming and video streaming where no one has gone before. If they succeed, it would be a game-changer. That will quietly redefine online advertising.
Will Verasity succeed?
Only time can answer that. But it is moving in the right direction. Here we have RJ Mark, the Co-Founder of Verasity, talking about the company’s ambitions and plans. The best thing about the company is that its products can financially benefit the end customer.
How?
Read on the interview for more details.
Q. Let’s start with your personal story. Our readers love to learn more about top entrepreneurs. Tell us about yourself.
A. I have been in mobile gaming and video content for over 15 years. I founded and built a global video advertising business with multinational entertainment company Outfit 7, the creators of the hit mobile app Talking Tom which received 7 billion downloads. That is 7 billion downloads of one app! This converted into a very successful exit. Now I am co-founder and Chief Revenue Officer for Verasity. I am responsible for the gaming and advertising side of the business and am very bullish about the future for Verasity.
Q. Let’s shift the focus to Verasity. It is a brand new concept that can revolutionize the video advertising sector? Are there any specific circumstances that led to the founding of Verasity?
A. In previous positions as executive management for Level Up Media, Snack Media and Dugout Limited, I had first-hand appreciation of the engagement and monetization problems that large-scale sites have in trying to get people to watch ads when the ads are the sole monetization vehicle. At different times these sites had over 70M monthly users but ads turned users off and harmed engagement while monetization fell off. Verasity grew out of the opportunity to provide users with a universal platform for watching ads and content and being rewarded for it. The Verasity SDK can be implemented into most video player platforms by publishers using these video players including YouTube, Vimeo, Twitch, and most other video players. We recently added iVideoSmart, the largest video platform in South East Asia.
Q. Now on to what must now be a familiar question. You must have been asked these questions a number of times before. But for the sake of the starters among our readers, let me repeat those: Is Verasity a video-sharing platform? An advertising network? A game publishing platform? Or another crypto wallet? What exactly is it?
A. Please check out the verasity.tv portal. The nav bar sets out all our achievements so far:
- GameStore
- Watch&Earn Videos & Ads
- About Verasity Videos – See hundreds of videos made by third parties about Verasity!
- Our Apps: VeraWallet, Triviata, VRA Splash
- B2B Tools including: SDKs for publishers, Ad Stack for publishers and game developers, Game Developer Platform, Next Generation Rewards Based Ad Engine, Integration of VRA & VRAB Redemption for Game Publishers and Proof of View (PoV)
We have customized a gaming platform for our own solutions integrating our VeraWallet. We are not a video sharing platform. However, we do provide B2B solutions for other online video sharing platforms to provide VRA rewards to increase both engagement and monetization. So we have both a B2B component for publishers to use our tech to reward VRA (ECR20) & VRAB (BEP2) and a consumer platform in which we publish third party gaming apps and support over 550 games in our Verasity GameStore completely integrated with our VeraWallet that has fiat gateway compatibility. Because of the Covid 19 outbreak we have shifted some resources to rewarded gaming which includes real-world rewards for players via our cryptocurrency, built-in ads and jackpot tournaments so that users can earn money while at home. In fact, we are now the only real-world rewarded crypto GameStore that provides real money (not just mods, tickets or vouchers) for winners. All our products can be found at verasity.tv are integrated via VeraWallet.
Q. It is quite clear that this is going to be beneficial to the viewers. In what ways do you think it is you going to benefit the advertisers? Their costs are likely to go up, with an additional layer coming up in the video-streaming sphere. Isn’t it the case?
A. Actually no. These are programmatic ads that are bought and sold via programmatic exchanges, the largest ad pool in the world worth over $250B per year. Our proprietary ad stack connects automatically to these exchange markets and doesn’t add any costs to the advertiser whatsoever.
Q. Let’s consider the case of publishers. They will surely get more attention with Verasity. How has been their response over the last three years?
A. Publishers that are using Verasity technology to give their users rewards for watching content and ads have sharply accelerated their monthly views and monetization. Since December 2019, Rewarded Videos & Ads watched increased 100% and Unique Video Views on Publisher sites increased 40%. To see the actual metrics go here.
Q. Youtube and Facebook are two big players in the video advertising phase. A host of OTT platforms like Netflix and Amazon are making inroads. How does Verasity fit in the midst of a real competition for viewers’ attention?
A. We don’t compete with other platforms. We integrate with them so that the platform can utilize our tech seamlessly and transparently without changing the workflow of the publisher or the habits of the users. We don’t believe it’s possible to compete with YouTube effectively so our SDK can be implemented on YouTube in a few minutes for any domain that the publisher owns. Our SDKs are available on YouTube, Twitch, Vimeo, JWPlayer, iVideoSmart, Brightcove, VideoJS, Kaltura, Flowplayer and others comprising 90% of the video player platforms. In effect, we are a layer on top of any of these platforms which can be used by over 2 million publishers with billions of monthly ad views.
Q. What about Verasity’s rewards? Don’t you think rewards in the form of crypto token will limit the acceptability in many countries?
A.It’s more about non-crypto users than it is about country limitations which is why our VeraWallet supports fiat-gateway conversions and soon to include credit cards worldwide so that you can load up on VRA with Visa and Mastercard and when you want to sell VRA, off-ramp using the same VeraWallet. Users can use the VeraWallet and reap rewards without even knowing there is a cryptocurrency involved. This is the best way to scale in non-crypto environments – all via VeraWallet.
Q. Let’s now talk about Verasity’s newly launched GameStore. What is special about it? How do game developers benefit from it, and how do user players benefit?
A. In January 2020, we announced our partnerships to integrate global game studio publishers including: BigPoint, European Games Group, Bytro Labs, Gamigo, Whow Games, InLogic, Imperia Online, Troll Games, and the famous Tinbo titles.
With the Verasity GameStore, you can play hundreds of cool, casual games. Play as a single-player, try a PVP game or even create your own tournaments and challenge your friends worldwide but from the safety of your own home.
We expect to scale the GameStore to tens of millions of users with new titles and more games coming on during 2020.
We have a substantial marketing budget to scale this and the budget is mostly non crypto related.
And since this is available via our GameStore and VeraWallet we have complete control and are not answerable to Google or IOS so can bring forth products that couldn’t otherwise be in the app stores because of real-world rewards. Exciting way for people at home to play and earn real money.
In the GameStore, VRA is used to buy credits, earn while playing and watch ads and VRA is won playing Tournaments. This is the first full tokenomics of the use of Crypto in Gaming. As this scales @verasitytech revenues will explode. The first full tokenomics of the use of Crypto in Gaming. In fact, we are the only real-world rewarded crypto GameStore that provides real money (not just mods, tickets or vouchers) for winners. We think this latter activity will grow fastest given the current pandemic and stay at home environment.
Other crypto gaming projects failed because the immediate problem was that both Google and IOS T&S don’t permit real-world rewards for any games so any developer who tried to implement them was at risk to be banned. We looked at all of the past models and concluded that a dedicated GameStore utilizing our own apps would scale. We also started with our own app Triviata as a test case to see how we can drive usage and this gave us the confidence to develop the GameStore. We are confident it will scale because people want real-world rewards but can’t obtain them for any Google or IOS apps. And with the fiat gateway non-crypto gamers can simply understand the USD value for their efforts.
Q. Is there any impact on the ongoing COVID-19 pandemic on Verasity’s operations? Hope you are all safe and healthy. Some online gaming and betting platforms have reportedly received a surge in visitors during the near-global lock-down period. How has it been going for Verasity’s platforms during these times?
A. The coronavirus is rapidly expanding and it’s not a joke. Countries are going into lock down and economic activity will contract severely. We think that Verasity is well placed because gaming will expand as more people are stuck at home. The timeline is probably longer than people realize.
Even after the immediate threat ends, SARS and swine flu taught us that it takes 2–3 years for the pandemic to actually die out so during that period more people will be gaming and trying to earn money from Home.
The GameStore and our own game apps will lead the way and scale during these times.
Fortunately no one on our team has fallen ill and we have a system to bring food to our developers so that they don’t have to go to stores. Hopefully the quarantine keeps all of us healthy.
With the Verasity GameStore, you can play hundreds of cool, casual games. Play as a single-player, try a PVP game or even create your own tournaments and challenge your friends worldwide but from the safety of your own home.
We expect to scale the GameStore to tens of millions of users with new titles and more games coming on during 2020.
We have a substantial marketing budget to scale this and the budget is mostly non crypto related.
Watch the video: https://youtu.be/iKOVJWjqBdM
Q. Now onto the final question. What are your views about the growth prospects of the post-corona gaming industry? Would love to hear your insights about how things could move once the dust of the Corona outbreak settles.
A. Since the outbreak, concurrent users playing or watching game play has increased 30% month-over-month. Engagement has grown 9.4%. In March, Xbox Live and Nintendo crashed, demonstrating the significantly higher loads on these online platforms. In the same time frame, Italy internet providers crashed due to League of Legends and other games.
Gaming is becoming the only social anchor as kids play with their school friends and stay connected. Gaming is a form of social media and interaction for many who disdain the physical world for the virtual world. With social distancing becoming the norm, gaming becomes more popular and acceptable to communities and people that never considered gaming will give it a try. Verasity will add chat and other social implementations to its GameStore to take advantage of this phenomenon. Further as one of the few places to earn real-world rewards through tournaments, competitions and watching content, the Verasity GameStore will attract many that are unfortunately unemployed and will remain so for a number of years until the economy repairs itself.
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Cryptocurrency
SOFTSWISS Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets
SOFTSWISS, a tech company and pioneer in crypto gaming with over 15 years of experience, conducted a survey revealing that the majority view crypto as a key driver for growth in new markets. Experts also analysed this year’s crypto bets to share the latest insights.
Bitcoin recently reached a historic high, getting closer to 90,000 euro per coin. However, during the third quarter of 2024, it faced its sharpest drop in several years. SOFTSWISS experts examine how these market shifts have influenced iGaming performance in the quarterly ‘State of Crypto’ analytics.
A Quarter of the World’s Population Engages in iGaming
Global iGaming statistics indicate that approximately 26% of the world’s population were ever engaged in iGaming. By 2028, the iGaming market is projected to reach 243.2 million users, with a market volume nearing 130 billion euro, a substantial portion of which is expected to involve cryptocurrency.
SOFTSWISS data shows that during the 9 months of 2024, the Total Bet Sum, including both fiat and crypto, increased by 43.1% compared to the same period of 2023. Simultaneously, the Total Bet Count showed even more impressive growth, surpassing 44.5%.
An in-depth comparison analysis since 2022 demonstrates fiat bets are rising much more rapidly than crypto. A comparison between the first nine months of 2024 and the same period of the previous year revealed that the Fiat Bet Sum achieved a 50.4% boost. The conservative approach toward payment methods has resulted in Crypto Bet Sum growing at a slower pace compared to fiat and has led to a modest 4-percentage-points (p.p.) decline in the crypto share in 2024.
[1] Based on data from ongoing projects[
Potential of Crypto in iGaming 2025
According to the SOFTSWISS iGaming Trends 2025 Report, cryptocurrency is set to remain one of the preferred payment methods within the sector. Based on the company’s survey, 58% of respondents identified crypto as the primary driver of growth in new markets, underscoring its essential role in shaping the industry’s future.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, reflects on the possibilities of crypto: “Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGaming’s naturally borderless reach, this expands platforms’ access to a wider international audience, boosting their global growth potential.”
“What is more, crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming businesses to save on processing costs and reinvest that capital”, adds Max Krupyshev, CEO of CryptoProcessing by CoinsPaid.
SOFTSWISS data confirms stable interest in crypto. In the first nine months of 2024, the Crypto Bet Sum increased by 15.2% compared to the same period the previous year. A long-term quarter-by-quarter analysis reveals a consistent growth pattern, though the third quarter of 2024 saw a 9 p.p. decline from the previous quarter. The drop aligns with the decline in the exchange rates of major cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, which occurred in the third quarter.
Meanwhile, the Crypto Bet Count rose by 16.2% in Q3 2024, indicating stable interest in crypto gaming. This combination reveals that while engagement in crypto betting remains steady, the total wagered sum is closely correlated to fluctuations in cryptocurrency exchange rates.
Altcoins Share Growth
The top five most popular cryptos in iGaming have remained stable over the years, with some shifts in the ranking order. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin are the most popular among crypto players. While altcoins accounted for only 25.1% of bets over the first nine months of last year, their share increased significantly to over 47% during the same period in 2024.
Bitcoin’s share dropped by 22 p.p. during the nine months of 2024 compared to the same period of 2023. At the same time, Tether and Litecoin saw the most impressive share growth, with over 8 p.p. and 7.8 p.p., respectively. Ethereum strengthened by 4.9 p.p.
Another impactful trend reveals some casinos, like Rollbit and Shuffle, utilise their own iGaming tokens to boost player engagement. Tokens designed specifically for gaming offer enhanced compatibility across platforms, lower volatility, and exclusive perks for users. Crypto drives the development of new payment methods and business growth.
Vitali Matsukevich summarises: “Crypto offers iGaming operators key advantages beyond lower costs and global reach. Blockchain enhances safety and fairness through transparency and traceability, with each transaction and game result permanently recorded and tamper-proof. Partnering with trusted crypto experts allows operators to harness these benefits, positioning themselves for growth and effectively navigating market shifts.”
The new SOFTSWISS iGaming Trends 2025 Report offers more insights about crypto in the ever-evolving iGaming sector. The visionary report is free to download via the link.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets appeared first on European Gaming Industry News.
Cryptocurrency
Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe
As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.
The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.
This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.
Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,
Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.
“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”
The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.
This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.
Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:
- Date: November 14, 2024
- Time: 12:00 CET
- Platform: X Spaces
The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.
Cryptocurrency
United States Online Gambling Industry Research 2023-2029: Cryptocurrency Gains Momentum, Rising Popularity of Esports, Operators Capitalize on Mobile-First Platforms
The “United States Online Gambling Market, By Region, Competition, Forecast and Opportunities 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The United States Online Gambling Market was valued at USD 9.5 billion in 2023, and is expected to reach USD 15.99 billion by 2029, rising at a CAGR of 8.90%
The United States online gambling market has experienced significant growth in recent years, driven by a combination of factors. One key driver is the increasing legalization of online gambling across various states. As more states recognize the potential economic benefits and tax revenues associated with online gambling, they are passing legislation to allow for its operation. This has created a favorable regulatory environment, enabling online gambling operators to enter the market and offer their services to a wider audience.
Technological advancements have also played a crucial role in the market’s growth. The widespread availability of high-speed internet and the proliferation of smartphones have made online gambling more accessible than ever before. Consumers can now conveniently access a wide range of gambling options from the comfort of their own homes or on the go, leading to increased participation and engagement.
Furthermore, the growing consumer demand for online gambling has fueled market expansion. The convenience, variety of games, and potential for significant winnings have attracted a large and diverse customer base. Additionally, the COVID-19 pandemic has further accelerated the shift towards online gambling as traditional brick-and-mortar casinos faced temporary closures and restrictions. Overall, the United States online gambling market is poised for continued growth as more states legalize and regulate the industry, technology continues to advance, and consumer demand remains strong.
Expansion of Mobile Gambling
One of the prominent trends in the United States online gambling market is the expansion of mobile gambling. With the widespread adoption of smartphones and the increasing availability of high-speed internet, more consumers are turning to mobile devices for their gambling activities. Mobile gambling offers convenience and flexibility, allowing players to access their favorite games anytime and anywhere.
Operators are capitalizing on this trend by developing mobile-responsive websites and dedicated mobile applications. These platforms provide a seamless and optimized gambling experience, with user-friendly interfaces and a wide range of games tailored for mobile play. The convenience of mobile gambling has attracted a new segment of players who prefer the flexibility of betting on the go.
Emergence of Live Dealer Games
Another significant trend in the United States online gambling market is the emergence of live dealer games. Live dealer games bridge the gap between online gambling and the traditional casino experience by offering real-time interaction with professional dealers through high-definition video streaming.
Players can participate in games such as blackjack, roulette, and baccarat, enjoying the social aspect and immersive atmosphere of a land-based casino from the comfort of their homes. The popularity of live dealer games can be attributed to the desire for a more authentic and interactive gambling experience. Players can chat with the dealers and other participants, creating a sense of community and enhancing the overall entertainment value. The advancements in technology, such as improved video streaming capabilities and enhanced user interfaces, have contributed to the growth of this trend.
Integration of Cryptocurrency
The integration of cryptocurrency as a payment method in the United States online gambling market is gaining traction. Cryptocurrencies such as Bitcoin and Ethereum offer advantages such as enhanced security, faster transactions, and reduced fees compared to traditional payment methods. This has led to an increasing number of online gambling operators accepting cryptocurrencies as a form of payment. The use of cryptocurrency in online gambling appeals to a tech-savvy audience that values privacy and decentralization.
It also enables players from jurisdictions with strict gambling regulations to bypass restrictions and participate in online gambling activities. As the adoption of cryptocurrencies continues to grow, it is expected to have a significant impact on the online gambling market, providing players with more options and operators with increased flexibility in payment processing.
Integration of Esports Betting
Esports betting is gaining momentum in the United States online gambling market, driven by the growing popularity of competitive video gaming. Esports refers to organized multiplayer video game competitions, where professional players compete for prizes. The integration of esports betting allows players to wager on the outcomes of these competitions, adding an additional layer of excitement and engagement.
Esports betting appeals to a younger demographic that is passionate about gaming and follows esports events closely. The availability of live streaming platforms and dedicated esports betting websites has made it easier for players to participate in this form of gambling. Operators are expanding their offerings to include a wide range of esports titles, tournaments, and betting options to cater to the growing demand.
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