The video is 1:51 in duration, although due to (possibly deliberate) encoding errors, it only plays for 0:22. the video has pulsating white pixels on a black background.
Although the video in the file only lasts 22 seconds, there is a full-length mono audio track. It sounds (possibly) like heavily-distorted speech.
When the audio is slowed down (for example, from one minute and fifty seconds to one hour and fifty minutes) there are morse-like bips throughout.
On September 14, 2017, Discord user unstable olding mentioned finding LAME3.99.5 strings in the LOVE text files. This is the metadata tag of a famous MP3 file encoder, in it’s latest version as of the date (3.99.5, released back in 2012). This could be evidence that either this encoder was used to generate the audio tracks for the video or that the video carries a hidden payload of one or more MP3 files (also encoded with LAME, presumably, not necessarily by UFSC himself). They could also be an artifact of YouTube re-encoding the audio tracks on the video.