[PRESS RELEASE – London, United Kingdom, 9th September 2021]
Verasity, a leading company in blockchain-powered ad-tech, received a notice of allowance for the second patent of its blockchain Proof of View (PoV) system and method from the United States Patent and Trademark Office. Once the protocol and product layer platform for esports and video entertainment pays the issuing fee, the patent will automatically be granted to the company within a few weeks.
The patent can be found in full under the U.S. patent application number 17/192045. The patent, which was filed on June 24, 2021, outlines PoV’s second verification system in detail. Due to the Patent Cooperation Treaty, Verasity is now able to file patents worldwide for one year from the date the patent was filed. This means that Verasity’s PoV is now, effectively, protected globally.
Additionally, the PoV patent was updated with additional parameters to improve its fraud detection capabilities and the user experience it offers. The PoV patent covers all aspects of how NFTs can be fraudulently created and manipulated, including ways that are often overlooked or not yet common practice. In addition to Verasity’s first patent (10,956,931 B2), which was issued on March 23, 2021, the new patent also covers other fields such as medicine, telecommunications and space applications.
Further, it includes a broad variety of NFT content types as well as applications of NFT technology, such as digital rights management. Since any existing NFTs can be converted into PoV enabled NFTs, the concept is infinitely scalable.
Verasity developed PoV to combat several problems and help brands that are experiencing ad fraud. Currently, data analysis often happens toward the end of an advertising campaign, after the content was delivered. This makes it hard to detect ad fraud. With PoV technology, ad fraud can be detected as it happens.
By utilizing artificial intelligence and 200 touchpoints, Verasity can determine whether a bot or human is watching an ad in real-time. This eliminates the need for post-delivery fraud analysis or requesting refunds from publishers. Additionally, PoV prevents view count and audience metric manipulations since legitimate views are verified and added to a publicly accessible blockchain that contains anonymized data.
“Our patented PoV technology, which is a protocol layer technology, offers immutability and transparency for video advertisements and helps combat NFT fraud as well as online ad fraud. With this notice of allowance, we will be able to expand its patents globally,” says RJ Mark, founder of Verasity.
Verasity aims to significantly increase user engagement and video monetization on video platforms. Its products include a proprietary ad stack as well as a rewards system that is integrated into software development kits for YouTube, Vimeo, Twitch, and all other major video platforms.