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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The UK Gambling Commission has begun scoping out how it will allow crypto gambling to exist within its regulatory framework, but there are concerns that embrace of cryptocurrencies by one of the world’s largest online gambling markets might make very little impact.
The UK’s gambling regulator announced in February that it was seriously considering allowing its licence-holding operator to allow gambling with crypto.
The move is driven in part by a project at the Financial Conduct Authority (FCA) to beef up rules around exchanges and other virtual asset providers.
This bedrock, the commission believes, will give it a solid foundation to open up the world of gambling, while addressing concerns around potential money laundering and value fluctuations.
Speaking in London earlier this week, the commission’s enforcement director, John Pierce, confirmed that he is leading a team within the regulator that is scoping out the project.
He said that formal regulations are unlikely to emerge until 2027, but speaking at the annual CMS Conference on Tuesday (May 12), he was clear that “we are moving increasingly towards crypto”.
Pierce added that he is keen to hear from members of the gambling industry on how they would like to see crypto regulations structured, primarily through the regulator’s Industry Forum, but admitted that the staff currently at the regulator lack skills in this area.
This skill gap is an area the Gambling Commission will need to close if it is to create a workable framework for crypto gambling, with some key players in the industry apparently unimpressed with the regulator’s efforts so far, sources say.
Pressure builds
While the regulator is being careful not to fully confirm that it will develop a model for crypto gambling, there’s good reason to believe it will push forward with the project.
This is due to several factors, including the growing threat of the black market. The commissions’ own research into what motives consumers to look offshore found a desire to gamble with their crypto holdings is a key motivator.
There’s also growing pressure from the international anti-money laundering (AML) establishment to do more than simply prohibit the use of cryptocurrencies.
Current advice from the watchdog the Financial Action Task Force (FATF) is that nations should look to bring crypto within their regulatory framework so as to better protect against its potential misuse for fraud and terrorism funding.
This position has influenced the FCA’s move to develop more complete crypto regulations and in turn has spurred the Gambling Commission to make its own moves.
The suggested date of 2027 for new regulations is no coincidence. FATF will commence its next mutual evaluation of the UK that year and will expect officials to show how they are limiting the flow of crypto from British shores to potentially illicit offshore operators.
Will it work?
There are real concerns that very few crypto casino players would actually be interested in wagering in the regulated market.
“In the UK, the demand is relatively small,” said Maria Rodriguez, the head of payment strategy for operating giant Flutter.
“It’s a very niche service, but it’s consumer that we don’t have access to at the moment,” she added, also speaking at this week’s CMS event.
One of the key questions is what kinds of crypto will be permitted in the UK market.
Pierce hinted that his team is leaning towards only allowing stablecoins, which rules out a large potential consumer segment who own currencies like Bitcoin and Ethereum.
This is primarily due to concerns around volatility. Stablecoins are pegged to supposedly stable currencies or commodities, like the US dollar, and are less susceptible to sudden market movements.
Pierce and Rodriguez both pointed to potential issues where coins with rapidly fluctuating values, such as bitcoin, drop massively while they are being held by operators as a customer deposit.
There are also other potential issues around financial services. Operators need banking partners in order to do business and they will likely resist any drift towards uncertainty.
So, while that makes a stablecoin-only regime the safe option, it’s a choice that risks alienating much of the current black market gambling which the commission is explicitly hoping to tempt onshore.
“You think about the segment that is the pure native crypto customers, even if we get to the point that we offer it, are there really going to come?” wondered Rogriguez. “I still have a question mark of whether we are going to attract those customers or not.”
The post UK Heading For Crypto Gambling, But Will Consumers Care? appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ReferOn has launched a built-in crypto finance layer designed to automate affiliate payouts and centralise crypto payout workflows inside its platform. The company said the feature supports crypto payments through its licensed partners’ payment gateways and is available now.
ReferOn said the layer is intended to replace manual, fragmented finance processes with program funding, real-time visibility into funds, automated crypto payouts, and audit-ready transaction history with exports. The company is positioning the release at affiliate teams that manage high payout volumes and frequent reconciliation work.
The update introduces a dedicated finance page for each affiliate program, including program funding and balance visibility, integrated top-ups with deposit address management, and a transaction journal with filters, detail views, pagination, and CSV export. ReferOn also said the automated payout flow records conversion data (rate and amounts), syncs statuses, and creates transaction records instantly.
On controls, ReferOn said each automated payout requires explicit confirmations and 2FA before being triggered. The company added that the feature is built to support audit and compliance needs through traceable transaction logs and one-click CSV exports.
Vlad Bondarenko, Head of Product at ReferOn, commented: “In all honesty, manual crypto payments are a disaster waiting to happen. When teams are afraid of entering the wrong address, making a double payment, or organising ever-growing spreadsheets, the team environment turns conservative and reactive. Our new crypto finance layer eliminates this confusion by providing managers with a comprehensive, centralised hub that automates the manual via integrated payment partners. This feature isn’t about offering affiliates a fancy new payment method or automating for the sake of it, it’s about freeing you up to run a revamped financial operation.”
The post ReferOn adds crypto finance layer to automate affiliate payouts appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Global crypto gaming platform BC.GAME has introduced BC Engine, a new rewards system designed to provide players with ongoing value from their gameplay, without minimum thresholds or tier requirements.
Inspired by crypto staking models, BC Engine transforms the platform’s native token, $BC, from a one-time incentive into a continuous rewards mechanism. Players still earn $BC through wagering as usual, but instead of being distributed as a standalone reward, the token is automatically allocated into BC Engine, where it contributes to ongoing earnings.
Rewards are distributed hourly in BCD, BC.GAME’s USD-pegged token, with each player’s payout determined by their $BC balance at the time of distribution. This structure creates a more consistent and transparent reward model, directly linking player activity to tangible returns.
The system also introduces a more sustainable approach by aligning reward funding with actual gaming performance, reducing reliance on traditional promotional spending.
Importantly, BC Engine is accessible to all players from day one, with no wagering thresholds or tier-based entry requirements, allowing users to begin earning rewards from their very first bet.
Alongside the launch, BC.GAME has rolled out additional enhancements to its rewards ecosystem, including a Welcome Shield protection feature for new users, as well as updated daily, weekly, and monthly reward programs.
The release comes as BC.GAME continues to expand in regulated markets, with an increased focus on compliance, local partnerships, and sustainable growth. The platform has been adapting its offering to meet jurisdictional requirements while strengthening its position across both licensed environments and its global crypto audience.
Kar Kheng Giam, Chief Executive Officer of BC.GAME, said:
“We want rewards to be simpler, more immediate, and more sustainable. Players should see value from the moment they start playing, without needing to reach specific milestones. With BC Engine, $BC becomes a core part of how ongoing rewards are delivered.”
The new features are now live across multiple markets, subject to local regulatory availability.
The post BC.GAME launches BC Engine, introducing continuous rewards model powered by $BC appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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