Vid, the recently launched AI video journal platform, today announced plans for its upcoming VID token presale which enables value to be transferred within the ecosystem easily and transparently. Vid is a “memory media” mobile application, originated in response to the improper data harvesting practices of major social media companies and the prevalence of video content on social platforms. Focusing on privacy, Vid created a video-based journal application that uses AI to auto-generate memories from personalized digital journals, organizes them into a calendar interface for easy access and discoverability.
The monetization aspect is a downstream consequence of the innovative privacy features deployed in Vid. The app relies on “zero-knowledge encryption,” which masks user data from Vid and advertisers — the data is only available and seen by the user on their local device.1 Consequently, Vid users can selectively reveal aspects of their journal memories at their sole discretion.
“When users create public Vids that include branded, auto-generated memories, it becomes an ideal opportunity to monetize their memories. Vid offers brands the opportunity to add swipe-up links to these memories should the user choose to publicize their Vid,” said Jag Singh CEO and Co-founder of Vid. “As consumers are becoming aware of the sheer scale that their personal data is being harvested and abused, Vid presents an elegant solution to that problem while pioneering a new social media concept — memory media.”
Users can subsequently receive the full advertising revenue generated from the swipe-up link advertisement — Vid will not take a cut. The concept leverages blockchain technology, and Vid is simply acting as the bridge between user and advertiser, with users retaining complete control over their data
Details around the company’s VID token pre-sale are expected to be announced in the coming weeks.2 Vid will reveal prominent social media influencers, with a combined following of over 250 million followers, who will have equity in the platform and become the inaugural set of users.
“Video has become the vernacular of our era but is plagued by data harvesting,” says Singh. “Our solution is nuanced and technically complex, yet beautifully simple.”
For more information on Vid, please read the company white paper.
Vid is a privacy-focused, AI video journal app that allows you to remember your life and monetize your memories. Created by Jagpal Singh and Joshvun Singh, Vid emerged from the desire of mainstream users for a balance between interactive and visual social media with enhanced data privacy.
Based on blockchain technology and innovative privacy development Vid is set to pioneer the path towards memory media.