A friend of mine showed me a site yesterday that I thought was pretty fascinating. With “viral videos” being constantly discussed in our industry, it was only a matter of time before a site like this one popped up — you can now invest in your favorite viral videos on the net by buying stock on the Viral Video Exchange. Users can participate in this online marketplace using artificial currency called “Voins.” Once you sign up, you start with $500’s worth of voins and can trade immediately with the community.
My initial thought on the GUI once I signed up was that it was in need of a slight clean-up. It took me a while to find out where I could start investing, which means the site has room to improve in terms of accessibility. And maybe I’m getting old, but it was slightly difficult figuring out how to navigate around the site overall. Also, the site seems to only accept YouTube videos for the time being, so I’m curious to see how they are going to adapt in the long run once other avenues like Vimeo and Blip.TV get bigger. But generally speaking, this is still a new site, and I think that it has tons of potential in the long run.
VVX can be an optimal tool for discovering new talents on the management and advertising end. With all these new YouTube networks forming, people are competing left and right to find the best talents available to sign. I was recently in a meeting with a senior talent manager of a new YouTube network, and she/he explained to me how competitive it is now in the industry to sign new artists. Naturally, like in mainstream entertainment, the best way to sign top tier talent is to get to them at their early stages. One thing I really liked about the VVX platform is that it sends me daily updates on their current trending videos (screenshot below).
A talent scout can use VVX as an avenue to see which videos seem to be increasing stock value the fastest, and explore whether their channel can be a possible prospect for signing. Also, advertisers who are looking to make a smaller investment for a higher risk, but possibly large return, can utilize VVX to find prospective publishers for their business.
All in all, VVX is an awesome idea, and apart from its potential as a great tool for all people working in online entertainment, I can foresee this site being a money-maker for its users once it grows and allows real currency to be traded.