I must admit, when I first learned of SnapVerse (free), based on the name, I was worried that it was another anonymous texting app in the vein of SnapChat, and I had no need for that.
But I was wrong. SnapVerse is more like Vine plus GarageBand, as it lets you take videos up to 20 seconds and mash in your favorite music and sound effects. Videos can be full size or square, as with Vine.
More importantly, the videos that are produced might actually have more artistic appeal than those created with other social video tools, thanks to the music component. Videos, called 'snaps' can be saved to your camera roll, and shared via Twitter, Facebook, email, and using SnapVerse's own social network.
There are some areas for improvement. More users and more 'snaps' need to be part of the network to make it more interesting and useful. SnapVerse is currently only an iPhone only app. Support for the iPad would be appreciated, and for other platforms, particularly Android if more users are to come on board. Until then, it's up to us iPhone users to start snapping and sharing!