As an internet culture, we are fascinated with memes and GIFs. They capture a moment in time that connects with many and becomes viral overnight. There is an app that can take your smartphone video and capture these action moments. It might sound too good to believe, but Lomics is that app.
Arthur Nugumanov developed Lomics as a way to combine YouTube and Vine into a better storytelling format. Nugumanov saw the live comic strip format as a logical next step in user generated content. He partnered with Vadim Asadov for an initial seed investment of $50,000 and the iPhone version of Lomics was born.
Lomics uses its unique algorithms to weed through dead video time and collate the important action into an animated comic strip. Users can then add their own text bubbles and narration or allow the app to do it for them. Here is a before and after example of what the app can do for video.
The current version of the app captures frames from video into this format. Here's an Instagram example of the app in action. In two weeks, an upgrade will allow for video animations in each panel. This is especially valuable on Instagram as they allow up to 60 seconds of video for each post.
As simplistic as the app looks, that's where the beauty lives. The app doesn't use sound from the source video. Lack of audio might seem like a problem, and yet Nugamanov says this fixes another issue in video editing.
"Professionally edited video takes so long to finish because of the problem with audio syncing," he said. "Removing the sound speeds up publication and allows users to put their own voice into the video."
A Tool For User Generated Content
Storytelling is the new marketing frontier. Nugamanov said Lomics is a tool for user generated content that gets to the point. People have no patience for anything anymore unless they care about it. Nugumanov believes the app has the potential to create many viral moments because of its functionality and quick story creation. That's where monetizing the app becomes a reality.
Once enough eyeballs are on the app, Nugumanov says major brands will pay to license their style and logos in user generated advertising campaigns. Nugumanov believes big brands like Nike, Under Armor, and Microsoft will jump at this new advertising platform because of the super low production costs associated with user generated content. Here are a couple screen shots on the iPhone.
Funding And Incubator
Angel List shows Lomics has raised $300k in 18 months. That funding helped develop the the iPhone version of the app. Nugumanov told me in the next 60 days he will close another $300k in funding for Android platform development and marketing.
The key demographics for the app are young mobile natives as they are more likely to generate viral content. It's that viral hit Nugumanov seeks to get Lomics on the right growth path for investor return.
Lomics is participating in The Batchery incubator based in Berkeley. Being around that group of veteran entrepreneurs puts Lomics is good company and on a great path to viability.
This is a great social media tool. It's not another platform. Lomics is simple and easy to use, and it creates GIF-like animated content that the short attention spans of today will love.
I wish I could give a first hand example of the app in action, but I don't own an iPhone. When Lomics comes out for Android, you can bet I'm posting my experience of it. In my everyday life as a sports official, this would make a great tool for capturing funny moments from which I can learn.
This is also a great tool for making life more interesting than it actually is by removing dead time and getting straight to the good stuff. Isn't that what the internet is all about? If I can convince you that my life is more interesting than yours with just my phone for dirt cheap, you can bet I'm all over that. As will every other teenage wannabe overnight internet sensation.
Just think of what will happen when the Kardashian's get their hooks into this app. I'm betting real money that's exactly what Nugumanov and his investors are hoping for.