Vyclone for iPhone brings collaborative video clips from multiple users shooting at the same event. It allows users to hook-up with others and will edit the results together into a 60-second clip.
A new video-sharing app for iPhone will connect users at the same event and allow their respective videos to be collated into a single edit.
The Vyclone app, which will instantly vie with the likes of Viddy and SocialCam to emerge as the pre-eminent video-sharing app.
If, for example, you're filming the Red Bull Flugtag, the app uses location data to find other people using the app to shoot the event. You can then choose to Co-create with them and the app will stitch together a minute-long collaboration that can be shared to YouTube or social networking sites.
Vyclone also offers a neat remix feature that allows you to see the different views from the event and create your own multi-camera video.
The makers of the app, which boasts more than a hint of Instagram in its design and feel, hopes Vyclone will become a powerful citizen journalism tool.
Chief executive David King Lassman told the Guardian: "Our big regret is that we didn't have Vyclone ready in time for the Arab unrest or Occupy Wall Street protests, as it would have been a very powerful tool to record what was truly happening.
"We're convinced that citizen journalism will be a key application for the product. But the reason we're putting this out into the public domain is that people will find uses for this that we couldn't possibly begin to imagine."
As well as hooking up with strangers, the app will also allow users to pick and choose their collaboraters to create a movie from the group's perspective, rather than pulling in feeds from random users.
Of course, the stakes are extremely high following Facebook's $1 billion Instagram buyout. Developers of effective video and popular video apps know that untold riches await. If Vyclone takes off it may quickly become target of an acquisition offer.
Twitter was reportedly interested in obtaining Instagram before Facebook swooped, but we think Vyclone could find a more natural home on the 140-character micro-blog.
Twitter specialises in bringing instant news updates from multiple sources. If it were able to bring in edited video streams, shot by multiple users to Augment these updates, it would become an even more powerful social news tool.
Presently, Vyclone is being trialed in the UK alone, so it's up to you to decide the fate of this innovative video-sharing app.