The Film Fest videos slot into various categories, including narrative, stop-motion, animated and experimental. All of the entrants had 18 seconds to tell their stories, but the time constraint on Giphy's video platform is a little more relaxed -- it hosts videos lasting up to 30 seconds. As with Vine (and, of course, GIFs), you can loop the videos.
Giphy said in a release that the platform is a "foray into yet another media format that we believe can tell powerful, short-form stories." and says it wants to be the go-to destination for short-form content. However, it faces some stern competition, not least because one of Vine's co-founders this week announced Byte, a looping video platform that will launch in spring 2019.