KYD

#KYD Labs, a blockchain-based ticketing platform, has secured in $7 million in a funding round led by a16z Crypto. The investment represents a major move toward reshaping the traditional ticketing system by giving control back to artists and venues.

The current ticketing industry is often dominated by intermediaries, high fees, and a lack of transparency. #KYD Labs is tackling these problems head-on by using blockchain technology to create a more secure, transparent, and efficient ticketing ecosystem.

According to #KYD Labs, their decentralized platform has already helped boost ticket sales by up to 30% for artists and venues. With on-chain ticket issuance and smart contracts, the platform offers better control over pricing, distribution, and secondary sales — reducing fraud and eliminating scalpers.

With fresh backing from a16z Crypto, #KYD Labs plans to accelerate development, expand its reach to more artists and event organizers, and promote the adoption of Web3 technologies in live entertainment. The goal is clear — to build a future where artists and venues take center stage in managing and benefiting from ticket sales.