Dear Investors/Traders,
Today’s newsletter is going to be a review or breakdown of the project ‘VID’, I previously got asked many times what projects I was interested in and investing in so I thought I would start producing this style of newsletter to analysis some projects that I thought looked interesting in terms of both fundamentals & technicals.
If you do enjoy this newsletter then please make sure you signup, I write newsletters a few times a week discussing the markets and talking about my technical analysis and hopefully these can be useful if you're looking for more detailed reports. Thanks guys!
In this specific newsletter, I wanted to take a deep dive into ‘VID’ a social video platform that allows its users to produce an income from just using their platform. I wanted to discuss this project as it was recently reviewed on Papercoins and the project looked support interesting and unique. I wanted to look a little bit deeper under the hood of ‘VID’ as see why the project is so interesting.
VID Platform
Vid is a video social platform that verifies the identity of users that wish to receive VI. Vid is the first company to use the value income business model which allows users to get rewarded for their value to the ecosystem. VI or Value Income is a business model that gives value back to the users of the ecosystem, Vid shows users their value in one single location which is inside the Vid app. Users will have the ability to see inside the app which companies are giving back the most value to users and then users in return can support those companies with time and money.
Vid itself is a social media platform, therefore they redistribute 90% of the value created within the Vid ecosystem back to users. This goes for any revenue the platform brings in such as advertisements or product services.
The purpose of both Vid and VI is to enable people to earn additional income that was not previously available to them. The idea of this stemmed from the premise that already people are losing jobs from technical advancements and Vid are trying to help users gain an income. This is super interesting as we have already seen over the past few months what has happened with the likes of corona-virus and the impact sudden economical shifts can have on people all around the world, one of the key reasons VID has built their platform is to tackle this exact problem. Users taking control of their own data and being able to produce an income is something great to witness.
The great thing about the VID platform itself is that its product has already launched, is it very common that projects talk about delivering such an amazing product and then start to struggle when it comes to execution. VID has already executed on an amazing application and its super excited to see the team hitting deadlines within their roadmap with such efficiency. Projects that have already launched a product are definitely more exciting and interesting from an investment standpoint for me.
Value IDentity (Whitepaper Section)
Vid is a video social platform that verifies the identity of users that wish to receive VI. Vid is the first company to use the value income business model. VI (Value income) is designed to allow users to reclaim some of the value they create in the economy. We believe this is best achieved by uniting users together on one platform so that they can effectively collate their value and influence. By category, users spend the most time on social media and chat apps on any given day, making it naturally the best category of app for this social economic experiment. Vid empowers users by collating their value in one single location. Within the Vid app users will have the ability to see which companies are giving value back to them via the Value Income Business Model and VI. With this information users can then spend time and money supporting companies that give back to the community. This, in turn, will inspire more companies to do the same. For example if a user is searching for an online clothing store they can provide value to a business that is giving value back to them. Vid itself is a social media platform. Therefore, we redistribute 90% of the value created within the Vid ecosystem to our users. Any service that can be purchased on the platform, eg, advertising, will be purchased via VI. 90% of the revenue generated and collected in VI will be sent to the return address. Thereby redistributing 90% of the value created by Vid users back to users.
VID Tokenomics
The current total supply for VI is 888,888,888 with the initial supply circulating currently at around 31,388,888 which is fairly low in regards to the total, this is due to VI having a pretty unique distribution schedule. How VI currently distributes its tokens is by releasing 777,777,777 over 312 years in equal injections resulting in a token release schedule of 7000 per day for 111111 days. Now this is a pretty unique distribution method especially due to the amount of time but I may actually be a really good selling point for the project, this will allow for the market not to get flooded with tokens and allow for a more controlled and algorithmic distribution plan.
Initially the 777,777,777 VI tokens at a rate of 7000 VI per day are to be distributed by smart contract address: 0x6d1eb783af9fe65b4cd826e1cf629b 4618a4bbdb. In addition to the initial 777,777,777 VI, tokens will continually be sent back to the source address, extending the length of the daily release. Of the 7000 VI tokens that are injected per day 99% is distributed to users as Value Income. and then 1% is distributed to the Vid foundation. This will be a super interesting distribution method for tokens and it will be interesting and exciting to see how it plays out over the next few months and years.
Team
The team itself fairly well sized with a majority of the team being based in LA, the team has a very strong emphasis on development with over 75% of the team being focused on this area solely. The team spent over 2 years developing the platform from scratch, so currently the backend/code is currently private with only the team being able to have an impact on the project. While some people may find this a little off-putting as open-source projects are highly favourably in the blockchain space, I actually personally think that a closed backend can be heavily beneficial if you have the right team in place that knows how to execute accordingly.
The CTO of Vid is Antek Baranski, a very well experienced technical expert whose past experience has seen him work for the likes of Riot Games, EA, Roblox and even Disney interactive. Antek has a great track record of leading strong development teams, and his leadership is great for the team in general, tie this into the fact they have already launched a strong product and have not missed a roadmap deadline so far and I think it’s clear to see that the development side of this project is very strong.
The marketing and management side of the team is handled by both, Josh Singh & Jag Singh who are both co-founders of VID, from a marketing standpoint it seems as though they are currently looking to onboard new users and really push the message of their platform out into the community. Marketing is going to be very important for this project as onboarding users will be crucial for adoption, the underlying value of the project is based upon users using the product and producing and income, so daily users are going to be important for VID in my opinion. I look forward to seeing different ways and method VID onboard new users and handle new and fresh marketing campaigns, should be an interesting few months!
Summary
Vid is an interesting project as it gives a lot more power back to its users, the premise of allowing people to produce an income from using their platform is incredible. We respect and appreciate the mission and core vision of the Vid platform/project.
It's great to see that the team have already launched a solid product via their IOS app and the initial launch seems to be gaining positive feedbacks. The next step for the team is successfully launching strong marketing campaigns and onboarding more users, as this will be vital for the overall impact of platform dominance.
I personally love the idea behind Vid, giving power back to users is something I strongly believe in, as we have seen time and time again how large social media applications are harvesting data and selling it to the highest bidder, this is something I strongly disagree with and blockchain in general and projects such as VID have some really good fundamentals that can tackle problems such as these. I think that fact that VID is a very new and interesting project that tackles a real-world issue is super exciting, especially as they currently have such a low marketcap and are not on a large variety of exchange at the time of writing this newsletter (03/07/2020).
Papercoins Edition
If you would like to check out the Papercoins edition that was released earlier this week then please do check it out on www.papercoins.co.uk, we produce easy to consume easy to read blockchain reports that are super great if you're looking to invest in new and interesting projects. VID got a great rank scoring this week…
If you would like to do some of your own research on VID then you check out there website or their twitter which both are super useful if you are looking to learn more. Currently VI is available on kucoin but hopefully over the coming weeks and months we will see this list expand as the project and community grows!
if you enjoyed this newsletter please make sure to signup and I will be doing more of these types of newsletter moving forward as I think they provide a very good portion of value back to the community. Thanks everyone for reading this newsletter!