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Ethereum powered Video Platform Shibuya officially got launched and went live today

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Indrani bose Follow

INDIA

Mar, 02 2022

Mar, 02 2022

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Today, new venture Shibuya was officially launched and went live with its beta version. It is a decentralized Ethereum-powered “direct-to-community” video platform. In addition to allowing creators to crowdfund their films and web series, Backers can also influence the creative direction of their projects.

The Digital NFT artist who is bringing long-form animation to Web 3 through Shibuya is, aka Emily “Pplpleasr“ Yang who has already tapped NFTs for a number of high-profile projects and this one is her latest pursuit.

According to Pplpleasr, the project will be a ‘Mix of Vimeo and Netflix’. It will be like decentralized crowdfund production of long-form visual content platform Kickstarter added with elements of non-fungible tokens collecting. It is a Web 3 experiment. This video-centric crowdfunding platform will be selling NFTs called “producer passes,”. The platform is monetized on the blockchain to allow viewer participation on the creative process and shared ownership. It will provide potential ongoing benefits to backers and gamification elements. Using NFTs and cryptos, the users can directly influence the platform’s content in Shibuya.

Shibuya's first project is an interactive Web 3 series called "White Rabbit," in which a protagonist goes down a crypto rabbit hole. It is like “anime meets ‘Black Mirror’ meets crypto,” said Pplpleasr. Usually, films can be watched for free on the platform other than the case when NFT-funded projects like Mila Kunis’ Stoner Cats restrict viewership to NFT holders. Viewers who hold the producer passes will be able to stake the NFTs to vote for one of two alternate endings to the first episode and will earn WRAB, an ERC-20 token representing fractional ownership of the “White Rabbit” series. The main character’s plotline in the next episode will be determined based on the option that receives the most votes. The supply of WRAB tokens will be fixed and it will be distributed to the community as the series progresses.

Additionally, the fund required for film production will be raised at the mint. There will be own unique producer pass NFT for each episode of “White Rabbit”. “The design of producer passes was inspired by movie ticket stubs,” explained Pplpleasr. As per the report, the inaugural mint of producer passes will be capped at 5,000 and priced at 0.08 ETH each which is $240 in current prices. On March 1, the wallet became accessible only to a whitelist of pre-approved wallet addresses. As per schedule, on Wednesday at 10 a.m. ET second public mint will go live.

Last week on 18th February, Pplpleasr gave a speech at an Ethereum-focused platform, ETHDenver conference located in Denver. She said, “Shibuya is a decentralized Hollywood, where cultures and ideas meet in one eclectic and inspiring place.”

Pplpleasr gained first attention after her Fortune magazine NFT cover raised $1.3 million last year. She is also the artist behind the decentralized art collection platform PleasrDAO, It has raised US$69 million to date to support the launch of the Shibuya platform, which was set for March 1.  


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Indrani bose

CBW - External Analyst

INDIA

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