AI-Powered Videos: MySpace Co-Founder’s New Company is Making it Happen!
Chris DeWolfe, the co-founder of MySpace Inc., has introduced his newest social-media creation that employs artificial intelligence to transform written content into video format.
PlaiDay creates three-second clips for free after a few prompts. For example, typing “1970s male disco dancer” will produce a jumping animated video. Add your photo and the dancer will look like you.
“When we started MySpace in 2003, the average person couldn’t create a website,” DeWolfe said in an interview. “Artificial intelligence is the next iteration of community and storytelling.”
DeWolfe is a serial entrepreneur best known for the social networking site MySpace, which he sold to News Corp. in 2005 for $580 million. He and his team, which includes CTO Aber Whitcomb, also founded Jam City, a mobile gaming company.
Their new company, Plai Labs Inc., raised $32 million in January in a funding round led by private equity firm Andreessen Horowitz. Coinbase Global Inc. and United Talent Agency also participated.
The product has competitors. Midjourney has over 13 million users on the Discord chat app. It allows people to write sentences like “a cat dancing in a hat with a red baseball bat” and it turns into a picture. Pika Labs, another AI-based text-to-video generator, has 424,000 users on Discord. DeWolfe said PlaiDay is different because it allows for personalization.
AI processing is very expensive. Plai Labs plans to charge Discord power users for premium features or eventually make the AI platform available to other companies.
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