UPDATE: See “Free Online Editing for Social Filmmaking – Part 2” for a comparison of capabilities offered by Jaycut and other similar online services.
At some point int the post production process, the Social Filmmaker will need to start editing and compositing. One of the challenges this phase is the software; more precisely, the cost of video editing packages like FCP and Adobe. While these post systems are top of the line, their top line prices and limited support for social computing (more so for FCP) can often be a barrier to most productions, so we need to look for alternatives.
Here is a free alternative for the DIY enthusiast from Jaycut, a a Swedish-bases company:

This editor is designed for the beginner, as well as the semi-professional. You can capture video and audio from webcams and microphones, create all types of edits, full of effects (slow motion and variable speed playback), built-in support for green screen compositing, and color correcting and grading.
Since it is an online editing package, it becomes part of the social computing ecosystem for Social Filmmaker. By creating a common account, team members can cooperatively contribute to story productions, a capability not available in many higher end packages. Production scripts can be shared through Google Doc (see 10+ Essential Tools for Social Filmmaking), enabling the Jaycut editing team to share and work on a common roadmap.
All in all, this is a great addition to the Social Filmmakers toolkit. But wIth a few simple additions to the system, Jaycut could become the the editing package of choice for the Social Filmmaker.
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