a16z Crypto Leads $7M Round in KYD Labs to Transform Ticketing Industry

Crypto risk capital Crypto led a bike of $ 7 million for the Laboratory KYD, a platform for blockchain tickets to provide artists and places to check over the sale of tickets, fans and income data.

This investment comes when KYD tries to expand its presence in the space of living events and is already showing success in cult places like the New York Le Poisson Rouge (LPR), the company said in a press release.

KYD Labs, founded by Ahmed Nimale, a former Ticketmaster product manager, and David Barrick, the creator of the FlipMass platform, seeks to solve long-term ticket sales problems: lost income of artists and places.

Artists and venues usually lose income because secondary sales and platforms of tickets control customer data. KYD aims to change this by offering direct access to the findings of fans and income flows.

“We have built KYD that means” to maintain your distribution “to make sure that no artist or venue may ever ask for something that is right of them,” said Nimale, which is a A speaker for Coindesk’s Consensus 2025 in Toronto.

Efficiency based on blockchain

KYD platform based on the sole offers an effective experience from buying tickets. Fans can buy tickets in less than 30 seconds with just a phone number and bypass the complexities of a crypt of wallet.

Places see increased wiring and income – LPR showed a 30% increase in ticket sales and millions of other income since the receipt of the system.

“Since the adoption of the KYD tools, we have been able to double our return on investment and significantly improve overall efficiency,” said Shannon Wiles, marketing director of LPR.

The platform is also planning to introduce two new protocol layers: the token $ KYD, which provides capital for places and tours, and the token of $ Tix rewards to motivate fans loyalty and operates similarly to miles of airlines. These functions are designed to strengthen financial stability for artists and places, while supporting community involvement.

Expanding horizons

KYD processed ticket sales of $ 4 million and earned revenues of over $ 1 million last year. By 2026, it plans to expand to more than 100 American places and eventually focuses on driving a live event in the main arenas around the world.

Thanks to the use of blockchain for the sale of tickets, KYD Labs will be built as a modern alternative to traditional ticket giants, promises greater autonomy for creators and a smoother experience for fans.

Responsibility: part of this article was created with the help of AI tools and reviewed our editorial team to ensure the accuracy and observance of our standards. See Coindesk for more information You have a polycy.