TechFlow News — Shibuya, a Web3 video platform launched by digital artist Emily Yang, has announced a $6.9 million funding round co-led by a16z Crypto and Variant. The round includes participation from celebrities such as Paris Hilton and NBA star Kevin Durant, Alibaba co-founder Joseph Tsai, and Stani Kulechov, founder of DeFi platform Aave. The platform reached a $50 million valuation in this financing round.
Shibuya aims to leverage Web3 services to help filmmakers raise funds and distribute movies through their fanbase, eliminating reliance on the Hollywood studio system. The platform has been described as a "cross between Netflix and crowdfunding platform Kickstarter."Original link
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