VID Token: Social Media Video Journal App To Monetize Your Memories?
What Is VID?
VID is a privacy-focused AI video journal app that allows users to remember their lives and monetize their memories. VID is a memory media platform—a cloud-based, calendar-centric hub for all your memories. VID users will be able to recall nearly every important moment of every single day of their lives. They will be able to search their memory as easily as we search the internet using Google.
Video Content Growth
The developers of the VID platform drew their inspiration from the spurted growth of the video content industry. According to June 2018 statistics, in every minute of every day, Netflix users stream 97,222 hours of video while YouTube users watch 4,330,560 videos. This is without mentioning Instagram, Facebook, and Snap users.
The numbers for visual content continue to rise every day. Experts predict that video content will account for almost 82% of the world’s total internet traffic by 2021.
Problems with the Present Social Media Setup
Over the last few years, the major social media platforms have experienced huge user data scandals. People around the world have become more conscious of how these platforms collect their data and the potential misuse of it. For this reason, VID aims to secure everything stored in its user’s private journal with zero-knowledge encryption, which is one of the safest methods of cloud storage currently available.
Fake News And Bad Actors
Another problem that rocks the social media sector is the prevalence of fake and faceless accounts. The prevalence of pseudo accounts on major social media platforms such as Facebook often lead to the circulation of inappropriate content, abusive interactions between users, and the use of peoples’ social media accounts for political gain. To avoid these problems, VID has initiated a stringent account verification process to ensure that preserving memories through video remains the sole purpose of VID’s platform. To gain access to a public account, VID users will undergo stringent verification.
VID Target Audience
Everyone with a smart phone could be a potential audience for VID. However, people born between 1980 and 1994 (Generation Y) and those born after 1995 (Generation Z) are likely to be early adopters of the program as they represent that largest proportion of users on visual social media platforms. VID aims to reach 20 million daily active users on its platform within 12 months, utilizing the five major social media platforms:
When a user opens the VID app, it opens to the camera screen. This is to provide ease of use and to encourage users to capture their memories in real time. Once captured, the user can choose to make the clip either private or public.
The Journal is in a calendar format and is the main interface that provides an overview of all VIDs captured by a user. The Journal represents that timeline of memories that a person captures. When a date is pressed in the journal, the VID captured on that date is played.
This is the platform’s search function, which allows users to search their memories. During recording, a user can tag the clips. Tags may include location, activity, occasion, or peoples’ names. These help users to easily organize and search their memories.
Other VID components include the Vibe Screen and the Feed.