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

Shibuya aims to use Web3 services to help filmmakers raise funds and distribute films through fans, rather than relying on the Hollywood production system. The platform is like a combination of "Netflix and crowdfunding platform Kickstarter." (Fortune)