LetsTok is Israel’s answer to TikTok. The Israeli startup, which offers a platform that utilizes artificial intelligence AI for content creators and people who aspire to become the world’s next influencers, brought in $1.5 million in pre-seed funding from Israeli and Hong Kong investors. LetsTok launched in late 2020. The app allows influencers and opinion leaders to reach their fans and followers.
LetsTok calls itself the complete end-to-end platform for live video interactions in HD quality between online media influencers and their followers and a marketplace format for personalized advice, counseling, and guidance.
But is it needed?
The world already has TikTok, in addition to Instagram, Twitter and YouTube. Each social media offers a slightly different service. Twitter is basically for making statements, but can also be used for pictures and videos. YouTube is just for videos. Instagram is for pictures and videos. And TikTok is a platform for short videos alone. These can be of the influencer himself, saying and doing just about anything, or clips from movies and TV shows.
The one drawback with all the above services, however, is that they must censor their content, blocking graphic images, nudity and borderline pornography. This is because they are free and open to anyone and everyone with an internet connection. So, there is no way to police who gets to see the content. Both Apple and Google would block any app that does not censor the loaded content.
For all of the people out there who want not safe for work NSFW sexy content, there is Only Fans. This is a paid service, which is why it is permitted to offer such content: users must pay for what they see and so no one could accidentally stumble across any nudity.
Only Fans is the only such service with a built in way of monetizing the posted content. The rest offer different ways for making money. Instagram pays posters based on the hits that it gets for embedded ads. TikTok offers money for having more followers. On all such services, users get paid to promote merchandise in their posts, but must declare this to be so in their posts.
So, how will LetsTok compete with all of this? The company says that its service is unique in that it offers a “creators’ economy” that enables the content creators to generate stable revenue streams by cultivating their followers. But how will they get followers in the first place and why would they leave Instagram or TikTok?
LetsTok saysthat it differs by using artificial intelligence to provide users with individualized content.
Udi Yadin, co-founder of LetsTok, explained, “Until recently, content creators had only two ways to monetize their work: advertisements and sponsorships. But now a whole new world of options is at their fingertips. We are entering the field of creators’ economy just in time, and already, with the launch of our platform in the U.S. and Hong Kong, we have gathered a significant number of talents and influencers on our platform, attracting both young and old audiences.”