What is VIDY?
This blog post will cover:
- What is VIDY?
- Where did VIDY come from?
- What are the advantages of VIDY?
- What are the disadvantages of VIDY?
- How to buy VIDY on SimpleSwap?
What is VIDY?
VidyCoin is a cryptocurrency of the VIDY network. VIDY is the first decentralized ad network, which provides an opportunity to work with an advertisement in a completely different way. It is running on the Ethereum blockchain. With the help of VIDY users can create ads and embed ad videos to an invisible layer on websites. While reading an article, a person can hold down a word or phrase that links to a video and watch it. Videos are displayed on the basis of the NLP protocol which analyzes words across the internet and matches videos and texts. Miners drive the NLP consensus protocol that helps to publish a video. Every user receives a reward for making ads as well as for watching ads.
VidyCoins can be used in several ways within the network:
- to pay for services
- to purchase ad campaign
- to get access to premium features
At the moment VIDY is working on integrating the system. Their official website is claiming that now they have commercial agreements with more than 40 publishers all over the world.
Where did VIDY come from?
The founder of VIDY is Patrick Colangelo. When he was a student at Harvard University he started VIDY his dorm. Patrick was the President of the Harvard College Entrepreneurship Forum and the President of the Harvard College Private Equity Group. He is also a founder of Black Diamond Capital Investors. His co-founder is Matthew Lim.
Matthew Lim is an ex-investment banker. He executed 8 IPOs, M&As, and Debt Issuance deals in Asia. He helped VIDY to sign deals with a number of industry leaders in China.
The idea of creating VIDY came from following after the situation in the advertising area. Observations showed that over 600M of devices block ads, less than 50% of ads consist of video, ads cause about 20% of battery drain, ads also cause lots of unpleasant feelings for a user, and are not really relevant. These things made advertising less profitable and informative. The VIDY team found a solution to lots of problems associated with advertising. Now ads bring a more enjoyable experience.
What are the advantages of VIDY?
The very fast and successful integration of Vidy shows that it has a number of significant advantages:
- There is no switching cost for users
The only thing a user has to do is to hold the text to watch an advertisement.
- Ads become more relevant to users
With VIDY users choose the ads they watch.
- Users, as well as miners, can receive rewards
It is the first network that rewards users for watching ads.
- When two worlds meet
VIDY team has found a way to bring together traditional business and blockchain technologies.
What are the disadvantages of VIDY?
- No competition
VIDY is the only blockchain network that provides this kind of service. On the one hand, this indicates the uniqueness of the project. But on the other hand, It takes competition to get better.
- Business focus
VIDY mostly cooperates with businesses rather than with individuals.
How to buy VIDY on SimpleSwap?
If you would like to become a part of the VIDY community, you may need some VidyCoins. We have simple instructions that will help you to make the purchase in a couple of simple steps:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- Select VIDY in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
- Enter the Recipient’s Address. VIDY will be sent to this address. Be careful and make sure you use the correct address.
- Check all the information you have entered. If everything is correct click the Exchange button.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.
This is the basic information you need to know to start using VIDY tokens. We hope it was useful for you.