Video creates exciting new ways for businesses to tell a visual story and grab attention for their products and services. Video facilitates customers’ understanding and helps build a positive relationship with the product. It assists with understanding and, therefore, brand trust. Let's have a look at some statistics.
• In 2017, video traffic made up 69% of global consumer internet traffic. It is estimated this will have increased to 88% by 2024.
• The average customer spends 88% more time on websites with video than those without.
• Typically, video retention runs at 95%, compared with 10% for text delivery.
Different e-Commerce models have evolved, including B2B (Business to Business), B2C (Business to customers), and C2C (Customer to customer). B2C is the largest of these sectors, and online retail is a large part of that, where businesses sell large amounts of products to consumers in many small volume sales. Conventional e-Commerce typically allows customers to purchase from a catalog and then takes care of inventory warehousing, order fulfillment, and automated payment processing.
Some market statistics, from US Commerce Dept :
However, video commerce is a new concept designed to harness this usage more fully. It is also referred to as shoppable video. Businesses make a short video showcasing their products, and customers shop directly from that video. It is already being used extensively by companies like Amazon and Facebook. Now Vudi plans to revolutionize the concept with the combined power of AI, Machine Learning, and Blockchain.
Some of the existing problems in the market:
- Expensive Ad Prices
- Creativity is not valued
- Transparency
- Commissions and middlemen
- Data collection
- Complicated Process
- Wrong Product delivery
- Dishonest reviews
Vudi Solution
Creativity valued: Any user can be a creator. Compensation is given for the content regardless of the number of followers creators have. Creators receive further compensation when the sale of the product is made through the creator’s video.
Advertisers pay for the right publicity: The creators make free advertising videos of the products, creating different ways to sell the same product. The only time advertisers pay creators is when they sell the product through their video.
Better product overview: Shoppers have multiple videos from different creators showing the product, making it easier to verify the product and quality.
No Hidden Fees, No commissions: Every transaction carried out is open and decentralized; everyone gets to keep 100% of what they have earned, businesses own all the proceedings from sales of products, content creators to own their share of products they help in sales, and customers pay the exact price of products they are purchasing, no processing fee and no commissions.
Autonomy: Advertisers deal directly with customers and creators and handle all transactions. There are no middlemen or agents.
Removal of Middlemen: Middlemen run the centralized e-commerce industry. They do not only elongate the transaction process but also make businesses pay more for less. Incorporating blockchain technology on the AI-based Vudi network will very significantly reduce transaction costs and remove the need for any third parties.
How does Vudi work?
Practical Framework of the Vudi Platform
- Advertisers, creators, and shoppers will register on the Vudi platform.
- Verify their identity using an email or phone number.
- Businesses will upload videos with a product attached.
- Creators can make videos in their unique style of any videos by any business.
- Our AI system will rank and push the suitable videos to the right viewers at the right
time. - Videos will appear on user´s feeds according to our algorithm and video taxonomy.
- Users can watch any video according to their interests.
- Advertisers, creators, and shoppers will have a wallet to use or receive earned tokens.
Vudi Token
VUDI token is a utility token created on the Binance smart chain. All transactions on the platform are transparently recorded and stored in the blockchain, where transactions can always be checked.
The incentive to use Vudi’s platform increases with the integration of VUDI token into the business model. The creation of the token is necessary to achieve full transparency of payments, anonymity, and reaching the platform’s full decentralization.
- Watch videos: Videos will have rewards randomly allocated. The complete e-commerce video has to be watched to earn the reward. Advertisers and creators can assign tokens to their videos
- Purchase: Shoppers can pay for products using VUDI token directly from the video they are watching on the platform. It suffices to say that transactions can also be done with other payment methods, but VUDI token offers security, commission-free transactions to everyone on the platform
- Invite Program: Shoppers can refer people to Vudi platform and get a reward for doing so. When the referral registers and verifies the data, both will get a reward in VUDI tokens.
- Reviews: It is only possible to submit a review on a confirmed purchase after shipment. Review rewards are paid in VUDI tokens.
- Video creation: When creators make an advertising video of any of the products of our platform, they will be rewarded in tokens. If the videos do not meet the standards or are malicious for the product, the video will not be published, and the reward will not be given. Creators will also earn 5% of each sale made through their videos.
Tokenomics
Tokenomics
- Website: https://vudi.ai/
- Whitepaper: https://vudi.ai/assets/media/Vudi_Whitepaper.pdf
- Token Sale: https://token.vudi.ai/
- Twitter: https://twitter.com/VUDItoken
- Facebook: https://www.facebook.com/VUDItoken
- Telegram: https://t.me/joinchat/UMQANe9MMRk1NDM0
- YouTube: https://www.youtube.com/channel/UCuPJ0FBQ_Y0RsMC741P9RYA