The Risk Capital A16z Crypto has led a $ 7 million seed round for Kyd Labs, a blockchain -based ticket platform aimed at providing control of artists and places on ticket sales, fans and income data.
The investment occurs when Kyd seeks to expand its presence in the live events space, already showing success in iconic places such as Le Poisson Rouge (LPR) in New York, the firm said in a press release.
Founded by Ahmed Nimale, a former Product Manager of Ticketmaster, and David Barrick, creator of the Ad-Tech Flipmass platform, Kyd Labs is looking to address long-standing problems in the tickets: lost income of artists and places.
In general, artists and places lose income as secondary sales and ticket platforms control customer data. Kyd aims to change that by offering places directly access to fans and sources of income.
“We build Kyd, which means ‘Keep Your Distribution’, to make sure that no artist or place has to re -ask for something that is legitimately his,” said Nimale, who is a speaker in Coindesk’s 2025 consensus in Toronto.
Blockchain -based efficiency
The Kyd platform, built in Solana, offers a simplified ticket shopping experience. Fans can buy tickets in less than 30 seconds with only one phone number, without going through the complexities of the cryptographic wallet.
The places see greater commitment and income: LPR reported a 30% increase in the sale of tickets and millions in additional income since it adopted the Kyd system.
“Since we adopt Kyd’s tools, we have been able to double our return on investment and significantly improve general efficiency,” said Shannon Wiles, LPR marketing director.
The platform also plans to implement two new layers of protocol: the $ Kyd token to provide capital for places and tours, and the $ Tix reward token to encourage the loyalty of fans, which works similarly to aerial miles. These characteristics are designed to strengthen financial stability for artists and places while promoting community participation.
Expanding horizons
Kyd has prosecuted $ 4 million for ticket sales and earned more than $ 1 million in revenue in the last year. Plan to expand to more than 100 places in the US for 2026 and eventually aims to be able to be able to be able to in the main sands worldwide.
By taking advantage of Blockchain for tickets, Kyd Labs is positioning itself as a modern alternative to traditional tickets of tickets, promising greater autonomy for creators and a softer experience for fans.
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