Blockchain-Based Social Media App Vid To Launch On iOS And Android
Video-centric social media app Vid has announced its upcoming launch on iOS and Android.
Created by Jagpal Singh and Joshvun Singh, Vid uses AI and blockchain technology to enable its users to create privacy-protected video content while allowing users to monetize content and retain 100 percent of advertising revenue.
In a press release, Vid announced the launch of the Vid iOS App and the release of Vid Android Beta. The company said that it will be working on readying its Android version for official launch on April 1.
“Vid is a revolutionary social app that seeks to disrupt the digital media industry globally and offer a fresh take on social media sharing among the digital generation,” said Jagpal Singh, CEO and Co-Founder of Vid. “With videos and social sharing becoming more widespread than ever before in today’s digital age, we are incredibly excited about our upcoming launch and the opportunities that come with it. Since our partnership with key strategic investors, we have pioneered the launch of the app, onboarded an additional 16 globally recognized influencers, and grew our user base by 350% to 100,000+ users. As we continue to fuel our ambition of offering a superior, privacy-protected social experience to the masses, we are grateful to our partners and investors for their generous support, which mounted our growth significantly.”
The launch came after the company closed a $10 million funding round in August 2019, with institutional investment firm NGC Ventures as a key investment partner.
“Vid is at the forefront of the ever-evolving digital age where we have seen exponential growth in new social apps and content creators,” said Tony Gu, Founding Partner at NGC Ventures. “With privacy becoming a major concern amongst digital users, there is a demand for enhanced personal security and reliability while allowing users to monetize shared content. Vid is built to offer all of these, making this app one with huge potential. Looking ahead, we will continue to be active advisors, investors, and supporters of Vid, driving user growth globally.”