VID Coin Overview
An Overview of VID Coin
Vid is a cloud based media platform that is aiming to create a privacy focused, AI video journal application. This will allow you to remember your life and monetize your memories. The users private memories will all be secured through the zero knowledge encryption method. This way, not even the VID team can see them. They’ll only be visible to the users who’ve created them.
This isn’t just an initiative they started out of the blue. They’re trying to address the actual shortcomings of the social media industry. Data collection, content creators being able to utilize a direct and fair payment system, privacy and fake news to name a few. Through the combination of a proprietary tech stack and the aligned interest of multiple social media influencer partners around the world, Vid is aiming to navigate social media to the next phase of evolution.
NGC Ventures Invests In Paradigm-Shifting Social Video Platform: VID
“Vid is a memory media platform; a cloud based, calendar centric hub for all your memories. Vid users will be able to remember nearly every important moment of every single day. Users will be able to search their memory as easily as we search the internet using Google.”
Read more here: Vid whitepaper
The main function of the Vid application is to tag memories created by personal users with a calendar-type interface curated by the application’s AI. The built-in editing software functionalities enables users to share their public memories in the most simple and efficient way possible. The application offers a wide variety of auto-edited video clips and animations. They’re all based on natively integrated music and automatically-indexed consumer data, creating the possibility to put out professional video content all at the touch of a button.
In 2018, Vid won $50,000 at the
Monaco International Blockchain Event.
Influencer accelerated growth
Vid uses a unique revenue sharing and distribution algorithm that seems to have caught the attention of many social media influencers who show interest in joining the Vid platform once it launched.
‘’The reason for influencer interest is the weighted distribution algorithm that rewards users proportionately to their contribution to the growth of the platform. Naturally this is attractive to influencers that have millions of followers on other platforms. If influencers encourage their followers to sign up to Vid using their individual sign up link, they will earn a greater portion of tokens on the platform in perpetuity.”
Read more here: Vid whitepaper
Income driven growth
Outside of the feasible problems Vid will aim to solve, they will also focus on nourishing the ability for users to earn money through the application. They’ll be using a water-mark viral loop, designed to drive additional platform growth. There will be multiple opportunities for Vid users to monetize their channels through the platform. They’re all specifically designed to aid both user acquisition and retention.
Vid has been founded by Jag and Josh Singh. They’ve previously founded a company together which they grew into $30 million in revenue in only 4 years. They were only 23 and 17 years old at the time, which makes things even more impressive. The brothers have been adamant about their project development, investing over $1.5 million of their own personal funds into product development. They’ve filled over 7 patents for the platform, including an AI-powered music magic feature that automatically edits your video clips depending on the music you’re combining it with.
With text-based media falling out of favor for more interactive, visualized content, Vid is primed to becoming one of the most hyped new social media applications in the foreseeable future.
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