The release comes after a subsidizing round of over USD 10 million, with NGC Ventures as a prominent financial partner.
VID, a video-driven social media app that permits users to control their data and monetize their recollections, declared its forthcoming release on iOS and Android. Set up in January 2017, Vid utilizes AI and blockchain technology to empower its users to make privacy ensured video content while permitting users to monetize content and hold 100 percent of advertising income. The dispatch comes after a financing round of over USD 10 million in August 2019, with NGC Ventures, one of the world’s driving institutional investment firms, as a critical financial partner.
Commenting on the release, Jag Singh, Chief Executive Officer and Co-Founder of Vid stated: “Vid is a progressive social application that looks to upset the digital media industry comprehensively and offer a new interpretation of social media sharing among the digital era. With recordings and social sharing getting more broad than any time in recent memory in the present computerized era, we are unbelievably excited for our future release and the opportunities that accompany it. Since our association with key speculators, we have spearheaded the release of the application, onboarded a new 16 all-around perceived influencers, and developed our user base by 350% to 100,000+ users. As we keep on powering our aspiration of offering a prevalent, privacy-ensured social experience to the majority, we are thankful to our accomplices and speculators for their liberal help, which mounted our development altogether.”
With reverberating confidence, Tony Gu, Founding Partner at NGC Ventures, stated: “Vid is at the cutting edge of the ever-advancing digital age where we have seen exponential development in new social applications and content creators. With privacy turning into a significant worry among web users, there is an interest in improved individual security and unwavering quality while permitting users to monetize shared content. Vid is worked to offer these, making this application one with vast potential. Looking forward, we will keep on being dynamic consultants, financial specialists, and supporters of Vid, driving user development comprehensively.”
Vid utilizes blockchain to move an incentive between content creators, advertisers, and the Vid platform. The previous a half year post-investment has seen Vid move forward all together, with significant development in its user base, inferable to some degree to the onboarding of internationally perceived influencers, which have a total reach of more than 375 million followers. Following the release of the Vid iOS App and launch of Vid Android Beta, Vid will be taking a shot at preparing its Android form for a formal announcement on April 1, 2020.