Web3 video platform Shibuya completes $6.9 million funding, led by a16z Crypto and Variant, with participation from Joe Tsai and others

ChainCatcher news, the Web3 video platform Shibuya launched by digital artist Emily Yang announced the completion of a $6.9 million funding round, co-led by a16z Crypto and Variant, with participation from celebrities such as Paris Hilton and NBA star Kevin Durant, Alibaba co-founder Joe Tsai, and Aave founder Stani Kulechov. The platform's valuation in this funding round reached $50 million.

Shibuya aims to leverage Web3 services to help filmmakers raise funds and distribute films through fans, moving away from the Hollywood production system. The platform is described as a "combination of Netflix and the crowdfunding platform Kickstarter." (fortune crypto)