Alibaba’s Joseph Tsai Invests in Web3 Video Platform.


Joe Tsai recently took a significant interest in Web3. Shibuya was in the seed round on $6K, a video platform for Web 3. A16z Crypto and Variant were the first Web3 startup to receive public investment. Digital artist Emily Yang is improving at crypto and hopes the film industry can still make movies with fans, not investment and distribution.

Yang, she loved animated movies since she was a small child. Shibuya decentralizes and utilizes the blockchain to monetize its movie production, just like playing games. With the official team, NFT holders decide the story’s direction through voting and contributing creative content. The next chapter of the company’s current film, white rabbit, will introduce new interactive mechanisms.

The film is free, but the producers added an economic system. Users can participate, fund, decide the results, and become partial owners. If the user votes for the popular option, he/she will receive $WRAB tokens. Yang hopes Shibuya can become the Web3 version of A24, an independent film production studio that has produced films such as “Everything Everywhere All at Once,” “Ex Machina,” “Moonlight”, and so on.

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