The unverified clip has been widely shared on social media accounts and shows a single drone suddenly exploding into a fireball.
Dissidents apparently packed 2lbs of C4 explosives into the two M600 drones in an attempt on Venezuelan President Nicolas Maduro's life, officials have claimed.
The military managed to use electronics to knock one of the drones off-course, while another reportedly crashed into a nearby building.
The new footage is purported to show the moment it moved towards the President during the rally.
But the 'attack' against President Maduro has been cast into doubt after TV cameras failed to capture any footage of the flying bomb-rigged devices.
A day of violence and confusion:
- Explosions rang out above the Venezuelan National Guard's 81 anniversary celebration at 5:41pm yesterday as President Nicolas Maduro delivered a speech
- Seven soldiers were injured in the attack as security personnel rushed to protect Maduro. Buildings were also damaged by the exploding drones
- Addressing the press after the blasts he said two drones had been deployed in an attempt to assassinate him
- The president blamed the attack on exiles in the US and Colombia as well as the Colombian government
- Tensions with Colombia are high over its sheltering of dissidents from Maduro's socialist country
- Colombian officials denied responsibility for the attack
- An obscure group called Soldiers in T-shirts claimed they carried out the assassination attempt, although this is unverified
- Maduro called for support form Donald Trump to "help me fight these terrorists"
- Venezuelan officials said several suspects had been arrested but did not disclose their identities
Questions were raised about whether the alleged "terrorist" attack was faked after Maduro quickly blamed political opponents and media footage of the event suddenly cut out.
Maduro has since called on US president Donald Trump to join his fight against the "terrorist groups" responsible for the attack.
The explosions cut short a televised speech by the Venezuelan head of government during the National Guard's 81 anniversary celebration.
Maduro – blamed for the impoverished country's crippling inflation and shortages of basic goods – was unharmed.
Information Minister Jorge Rodriguez condemned it as an attempted attack on the President's life.
He said: "At exactly 5:41 p.m. in the afternoon several explosions were heard. The investigation clearly reveals they came from drone-like devices that carried explosives."
Wearing a presidential banner, Maduro was speaking on a podium alongside his wife Cilia Flores and several high-ranking military officials.
He told the crowds: “To the conscious Venezuela, we are going to bet for the good of our country, the hour of the economic recovery has come and we need.”
Maduro then stops and looks up in the air in horror and Cilia recoils in horror.
Later security forces were seen checking a nearby building that was apparently set alight around the same time as the explosions.
Mr Maduro blamed far-right factions and the government of neighbouring Colombia for what he described as an assassination attempt.
In an address to the nation Saturday evening, he said: "This was an attempt to kill me. Today they attempted to assassinate me."
Maduro said at no point did he panic, confident the military would protect him.
"That drone came after me," he said. "But there was a shield of love that always protects us. I'm sure I'll live for many more years."
He said police had made a number of arrests but gave no further details.
He also said he believed Colombia's president Juan Manuel Santos – one of his most outspoken critics – was behind the bomb plot.
And he claimed the plot was planned and financed in Florida and asked for Donald Trump's help catching the perpetrators.
A previously unknown group claimed responsibility for the attack.
Soldiers in T-shirts said in a tweet that it planned to fly two drones loaded with explosives at the president, but government soldiers shot them down before they reached their target.
The claims could not be immediately verified.
Mr Maduro, who succeeded tyrant Hug Chavez, was elected to a new term in office in May despite a crippling economic and humanitarian crisis and violence on the streets.
Boris Johnson said the vote was "obviously rigged" and called for fresh international sanctions.
Maduro's regime has been accused of locking up political opponents and using deadly force to put down protests.
How President Maduro plunged Venezuela into political and economic crisis
International observers have decried Maduro's violent clampdown that has seen more than 125 people die in bloody clashes since he won sweeping powers in a rigged election in August last year.
Once the richest country in Latin America, and despite still being a major oil exporting nation, the now socialist administration's economy is on the verge of total collapse.
Hundreds of thousands of Venezuelans have fled the country, where food and medicine are in short supply and inflation could reach one million percent, according to the International Monetary Fund.
Maduro, a 55-year-old socialist leader, has stuffed the current parliament and Supreme Court with his own supporters – and America, Mexico, Columbia and Panama have all sanctioned a number of their leaders.
France, Germany and Canada withdrew their ambassadors, and the US previously told all embassy staff to leave the country.
Maduro often ciriticses the opposition and the US, claiming they are working together to overthrow him.
The president violently suppressed protests after his election last year as thousands marched for four months against his creation of the Constitutional Assembly which solidified his hold on the governmnent.
The body replaced elected legislature and the Supreme Court later declared the more democraic National Assembly dissolved.
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