With echoing optimism, Tony Gu, Founding Partner at NGC Ventures said: “Vid is at the forefront of the ever-evolving digital age where we have seen exponential growth in new social apps and content creators. 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.”
Vid uses blockchain to transfer value between content creators, advertisers, and the Vid platform. The past six months post-investment have seen Vid propel forward significantly, with substantial growth in its user base, attributable in part to the onboarding of globally recognized influencers, which have an aggregate reach of over 375 million followers. Pursuant to the launch of Vid iOS App and release of Vid Android Beta, Vid will be working on readying its Android version for official launch on April 1, 2020.
Jag Singh, CEO and Co-Founder of Vid and Tony Gu, Founding Partner at NGC Ventures are available for interview
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.
About NGC Ventures
NGC Ventures is one of the largest and most active institutional investors of cryptocurrencies. NGC adopts best practices from traditional financial markets to invest in and incubate leading projects in the crypto industry worldwide. Both Fund I and II have invested in over 70 projects, mostly in blockchain infrastructure and adoption technologies in areas such as De-Fi, Gaming and Decentralized Computing. NGC also incubated NGC StakeX, which is a node-operating division. NGC Ventures has offices in Singapore, Shanghai and San Francisco.
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