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What Is VIDY (VIDY)?

Jan 13, 2023
4 min read

This blog post will cover:

  • About VIDY (VIDY)?
  • Where did VIDY (VIDY) come from?
  • What are the advantages of VIDY (VIDY)?
  • What are the disadvantages of VIDY (VIDY)?
  • How to exchange crypto on SimpleSwap?

About VIDY (VIDY)?

VIDY 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.

The VIDY token 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 (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 (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 (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 exchange crypto on SimpleSwap?

Now you know a little more about the VIDY project. If you want to continue your immersion in the Crypto World and purchase some cryptocurrencies, you are welcome to use SimpleSwap by following the simple instructions below:

  • For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
  • Select ETH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. ETH will be sent there. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ETH exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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