Web3 Video Platform Shibuya Closes $6.9 Million Funding Round Led by a16z Crypto and Variant

Shibuya, a Web3 video platform launched by digital artist Emily Yang, closed a $6.9 million funding round led by a16z Crypto and Variant, with participation from Paris Hilton and NBA star Kevin Durant, among others.

Shibuya aims to build a Web3 service that will let filmmakers finance and distribute movies by relying on fans rather than the Hollywood studio system.