The Russian startup Retomagic presented an update to its own neural network. She, in addition to generating images by text, can now create music videos on any topic. With the new functionality, the developers want to make TikTok app for generative videos.
Retomagic talked about updating the app’s functionality.
For convenient access to international markets, the developers renamed the app Retomagic to Magicly. Now the service, in addition to generating images by text, can create music videos on any topic. The developers emphasized that the result “deftly conveys everything that comes to mind.”
Based on the text description, the neural network creates three versions of the video. Generating a video according to the one sentence description takes about 30 seconds.
“You can choose any of the music videos you like after making it as long as it’s like an art house, but we’re just at the beginning. Now our app can be called TikTok for generative videos, after beta testing on the site this feature will be available in the app,” said Retomagic.
The startup noted that they were the first in Russia to create such a universal neural network. By the summer of this year, the model will be finalized, the stability of the video stream will be increased. Retomagic is awaiting delivery of a new data center from Nvidia, the startup added.
Funding for the development of Retomagic comes from grants from Microsoft, Nvidia, and Amazon. The startup is also raising a $2 million investment round, investors from the United Arab Emirates are interested in investing in the venture, Retomagic said.
“Magicly is already generating its first revenue through in-app advertising, subscriptions will be available along with video generation this month,” the startup said.
Author:
Kirill Bilyk
Source: RB
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