Lucy Edit is a versatile foundation model designed for text-driven video editing, allowing users to utilize natural language commands for video modifications without the need for masking, hand annotations, or any external assistance. The model can execute a variety of edits, including alterations to clothing and accessories, character or object replacements, scene transformations encompassing styles, backgrounds, and lighting, as well as adjustments to color and style, all while ensuring that the identity of the subjects is preserved and that motion consistency and realism are maintained throughout the frames. Built on a sophisticated architecture that combines a VAE with a DiT (diffusion transformer) stack, it performs optimally with prompts of approximately 20 to 30 descriptive words. In addition to its free/open version available under a non-commercial license, there are also Pro versions and hosted APIs designed for more intensive production needs. This innovative editing tool represents a significant advancement in the field of video editing, making high-quality modifications accessible to a broader audience.