Shibuya
Shibuya is a digital short film production and community engagement platform using blockchain to help creatives crowdfund and produce film projects directly alongside their fans.
Website: https://www.shibuya.xyz/about
HQ: New York, New York, United States
Active Markets: Global
Problem Addressed
The dominant studio model precludes access to resources for many creators, and removes audiences and fans from the creative process. Shibuya seeks to provide a range of tools and resources to help creators produce high-quality content, and provide them with direct access to their audiences, thus building deep connections with their fans that allows them to develop a loyal following.
Project Description
Shibuya’s new model for film production features blockchain crowdfunding. Fan communities engage and participate in co-creation of content by voting on creative direction and being granted direct access to creators. Long-form content is free to watch, but through the sale of NFT “producer passes” people who invest share ownership and have access to participate in the creative process.
Creators and filmmakers use Shibuya to source funds for the production of their film projects. As part of the ecosystem, creatives grant community members the ability to vote on elements of the project, can track fan engagement, and engage with audiences in more direct ways. Community members participate in crowdfunding campaigns, engage with other community members, and may even contribute to the creative process.
Distributors are encouraged to participate in the ecosystem and discover new talent and creative works.
Business Data
Status: Active
Constituency Served: creatives
Networks: Ethereum
Known Investors: a16z, Variant, Paris Hilton, Kevin Durant
Additional References: N/A
Progress to date
Shibuya raised $6.9 million in seed funding in 2022. In that year the project raised over $1.5 million in NFT sales to produce the development of their first in-house production, White Rabbit. White Rabbit was the first IP on Shibuya and is a Web3 interactive short film series about going down the crypto rabbit hole. In July 2022, Coinbase launched its NFT platform with Shibuya’s White Rabbit as a launch partner. Chapter 4 of White Rabbit is set to launch in July 2024.
Business Model
Shibuya generates revenue through transaction fees when community members purchase access NFTs.
Traction
Shibuya has raised over $2.5 million for the short films they have released to-date. Shibuya’s first production, White Rabbit, sold out all 5000 NFT producer passes in 22 minutes, raising $1.2 million in funding.