Shibuya, a Web3 content studio and producer platform brighten up on its seed round.
About Funding
Shiyuba had recently organized a seed round with the institution for the growth of its platform. The company announced that it has received a total of $6.9 million in funding in the seed round. The funding round was led by a16z crypto and Variant, while angel investors participating in the round included names such as Joe Tsai, GMJP, Kevin Durant, and Paris Hilton.
The resulting funding will be used to recruit new IPs and content creators to Shibuya, and scale the engineering team, in addition to hiring a lead UI/UX designer.
Streaming Platforms
Shibuya, unlike traditional streaming platforms, was created by prioritizing decentralization. It uses blockchain technology to securely distribute and monetize content. The Shibuya team aims to help creators produce high-quality content and create a set of tools and resources to bring them directly to their target audience. In this way, creators will build deep bonds with their fan base, while helping it grow on its platform.
This project, which was implemented in March 2022, has managed to attract the attention of many segments from consumers to creators and investors. Recently, White Rabbit received $1.5 million in funding from NFT sales to support its development. The seed financing round has also provided corporate finance for the growth of the platform.
About a16z crypto
a16z crypto is a venture capital fund that invests in crypto and Web3 startups. It manages a fund worth over $7.6 billion in total, with a fourth fund of $4.5 billion recently announced.
About the Variant Found
Variant is an early-stage fund that invests in Web3. Believing that users will become owners of the next generation of the internet, it supports founders who are supporting its mission at the earliest possible stage.
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