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Binance Chain Announces Collaboration With Verasity For Incentivised Video Economy

All crypto enthusiasts are familiar with the exchange which goes by the name of Binance. It is one of the largest cryptocurrency exchanges by the adjusted volume. As per recently published reports, they have made an announcement about a collaboration with Verasity.

It is a tech company which provides rewarded video player technology to major publishers all around the world and the partnership and also offers loyalty schemes as well as tokenized rewards within the wallet of the video player itself. According to the official announcement that was released will be aiming to bring about a new incentivized video economy, states the official announcement.

Veracity and Binance Chain coming together to form an alliance looks like yet another interesting partnership surfacing in the crypto space. For those who are not aware, Binance Chain is one of the leading blockchain systems developed by team Binance.

The reports clarify that the latest product in question has completed its developmental phase and is ready for utilization by the publishers. The application combines loyalty programs and rewards efficiently into a single video player wallet; others can use the same on the blockchain. That means publishers, advertisers, and viewers can not only use but also share the videos across numerous video platforms such as YouTube, VideoJS, JWPlayer, Kaltura, Vimeo, and Twitch easily.

Another advantage is the ease of integration the application offers. Any publisher can integrate the app in minutes within the current workflow. At the same time, it doesn’t mandate the viewers to download additional software or alter their habits in any way.

Verasity’s Co-Founder Mark Hain shared his opinions about the collaboration and said, that developing on the protocol of Binance Chain would only enhance their platform as Binance Chain’s superfast block confirmations would result in significantly cheaper and faster transactions. Moreover, Binance community’s power and BNB liquidity would take the Verasity project a notch higher.

Binance CEO and Founder Changpeng Zhao also shared his opinions saying videos are a great platform to engage, entertain, and educate people. He continued adding that the video player solution by Verasity offers an amazing medium to content creators, viewers, and publishers where they can benefit greatly from blockchain’s utility. CZ also expressed how glad he was that both the companies were leading in the space globally.