The venture capital company A16Z Crypto has led a $ 7 million seed tour for Kyd Labs, a Blockchain ticketing platform aimed at giving artists and places control of ticket sales, fans and income data.
The investment comes as Kyd seeks to extend his presence in the space of live events, already showing success in emblematic places such as New York Rouge (LPR), the firm said in a press release.
Founded by Ahmed Nimale, former product manager at Ticketmaster, and David Barrick, creator of the Ad-Tech Flipmass platform, Kyd Labs seeks to solve long-standing problems in ticketing: income lost by artists and places.
As a rule, artists and places lose income, because secondary sales and ticket platforms control customers. Kyd aims to change this by offering places direct access to information from fans and sources of income.
“We have built Kyd, which means` Keep your distribution ”, to ensure that no artist or place should never ask for something that rightly belongs to him, “said Nimale, who is a speaker of Coindesk consensus 2025 in Toronto.
Blockchain efficiency
The Kyd platform, built on Solana, offers a purchasing experience for rationalized tickets. Fans can buy tickets in less than 30 seconds with just a phone number, bypassing cryptographic wallet complexities.
The premises see an increase in commitment and income – LPR has declared a 30% increase in ticket sales and millions of additional income since the adoption of the KYD system.
“Since the adoption of Kyd’s tools, we have been able to double our return on investment and considerably improve global efficiency,” said Shannon Wiles, LPR marketing director.
The platform also plans to deploy two new layers of protocol: the $ KYD token to provide capital for places and visits, and the reward token $ TIX to encourage fans of fans, operating in the same way as air miles. These features are designed to strengthen the financial stability of artists and places while promoting community engagement.
Expanding horizons
Kyd has treated $ 4 million in ticket sales and earned more than a million dollars in income in the past year. It plans to extend to more than 100 American sites by 2026 and aims to feed the trade in live events in the main arenas of the world.
By taking advantage of the Blockchain for Ticketing, Kyd Labs is positioned as a modern alternative to traditional ticketing giants, promising greater autonomy for creators and a softer experience for fans.
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