NFT artist pplpleaser raised $7 million to reinvent filmmaking

On Thursday, Yang’s blockchain-based film platform Shibuya announced that it has raised a $6.9 million funding round led by venture capital firms a16z Crypto and Variant. The round, which also attracted celebrity investors such as Paris Hilton and Kevin Durant, values ​​the company at $50 million.

In an interview with FortuneYang said Shibuya — the name refers to a famous neon-covered intersection in Tokyo — will initially focus on animated films, which have been Yang’s passion since she watched Wall-E and other Pixar movies as a child. To this end, Shibuya’s first project is an animé short film called white rabbit.

The film, which Yang co-directs with fellow visual artist Maciej Kuciara, is released in 3- to 5-minute installments and depicts the adventure of a young heroine, Mirai, who navigates a world full of mystery and danger. The film, which is an allegory, is set in a future where computer development has compromised the blockchain and Mirai strives to protect it. Here is a picture from the film:

There is, of course, a blockchain twist to the project. Although the film is free to watch, fans have the opportunity to buy tokens that will give them an impression on the development and outcome. They can use the tokens to vote between two possible paths – like a Choose Your Own Adventure book – and also save as memories.

“Emily and Maciej are brilliant storytellers with an incredible track record of producing compelling content and fostering strong communities. Shibuya combines these elements into a platform that enables everyone to participate in driving the narrative, with tools for creatives to tell their own stories, said a16z Crypto partner Ali Yahya.

Yang likes to describe Shibuya, which launched in February, as a cross between Netflix and Kickstarter. But in talking to Fortune, she added that she doesn’t like how Kickstarter limits backers’ opportunities for participation to just handing over money and hoping the project materializes. Blockchain-based funding models, Yang believes, provide fans with a more rewarding and immersive experience.

Meanwhile, Yang sees Web3-based business models like Shibuya as a better option for creators than relying on power brokers from the film industry. “If I were to do this traditionally, I would need to get Hollywood contacts,” she said. “Now I don’t have to wait for someone to say yes.”

says Yang white rabbit, which is about to release its third installment, is partly intended as a proof-of-concept for Shibuya. In the coming year, the company intends to invite other filmmakers and, eventually, other types of artists onto the platform, but for now is proceeding cautiously to pay attention to quality. Here is another image from the film:

Shibuya is not the only startup trying to use Web3 to challenge traditional business models of the entertainment industry. On the music side, a new label called Royal, along with the band The Chainsmokers, is using NFTs as a way for artists to sell songs directly to their fans, and to give them perks like backstage passes or even a stake in future royalties.

This creative-driven type of production is a central mission of VC firm Variant, which has backed a number of startups that give fans and users a stake in various projects. More broadly, the artistic world’s ongoing embrace of NFTs and Web3 remains a modest bright spot in the crypto industry at a time when cryptocurrency prices are in a brutal slump.

Other investors in Shibuya include Alibaba co-founder Joe Tsai, and Stani Kulechov, the founder of DeFi trading platform Aave.

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