Verasity @verasitytech has good news. In London, September 16, 2024, the UAE Ministry of Economy announced that VeraViews @Vera_Views will be included in the NextGen FDI program.

VeraViews is a groundbreaking new digital advertising platform powered by Verasity that uses distributed ledger technology to verify ad views, eliminate the spread of harmful content, and prevent bad actors from exploiting the media supply chain to fund ad scams and extremist sites through its proprietary Proof of View technology.

Verasity is a decentralized platform for content creators and viewers that aims to create a fair and transparent system for them to tokenize their works and get rewards for watching content. It uses blockchain technology and a Proof of View system to ensure accuracy and prevent manipulation, while using a token system for transactions and rewards.

VeraViews, which is currently beta testing its video ad placement product, will establish its global headquarters in Dubai Media City in the future and support the UAE’s efforts to regulate an increasingly complex advertising ecosystem – ensuring marketing budgets reach verifiable audiences through properly certified agencies and publishers.

Currently, the global digital advertising market is worth more than $550 billion, and the Middle East is one of the fastest growing regions. It is expected that by the end of 2024, the region's advertising market will reach $6.9 billion, of which online advertising will account for more than half. The UAE remains the second largest advertising market, with spending of $1.8 billion in 2023. From this data, it can be seen that the advertising market has great potential in the future. The greater the potential of the advertising market, the greater the potential of VeraViews in the future.

Not only that, VeraViews is the latest business to take advantage of the UAE Ministry of Economy’s NextGen FDI programme, which aims to enhance the UAE’s competitiveness by attracting innovative companies and offering a range of market access fundamentals, including fast-track registration, bulk visa issuance, and access to banking and commercial real estate.

Its Open Ledger Advertising Platform uses patented technology that not only simplifies advertiser-publisher relationships, but also identifies and ultimately eliminates malicious actors in the space, while helping to make the UAE the most secure digital advertising ecosystem in the world.

Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said: “The NextGen FDI programme continues to welcome cutting-edge companies that are developing and deploying advanced technologies to enhance some of our most important sectors. VeraViews’ DLT-based advertising platform has the potential to revolutionize the media industry in the UAE and, ultimately, around the world.

“Advertising is an important means for companies to expand their business, expand their customer base and promote their products and services. We must create a transparent and trustworthy industry so that companies can get value for every dollar they spend.”

VeraViews CEO Mark Firth sees the UAE as an ideal location for the company’s global headquarters. He added: “The UAE’s media sector is vibrant and diverse, with established platforms, publishers, agencies and networks. VeraViews believes our distributed ledger technology can bring significant value to the sector by helping to eliminate fraud and prevent the spread of misinformation or other forms of harmful content.”

“We are grateful for the support provided by the NextGen FDI program and welcome the opportunity to work with the UAE government and industry stakeholders to build an advertising ecosystem that benefits everyone.”