A16z Crypto leads $7 million seed round in KYD Labs, driving blockchain ticketing innovation

According to CoinDesk, venture capital firm a16z Crypto led a $7 million seed round of funding for blockchain ticketing platform KYD Labs. KYD is built on Solana and aims to empower artists and venues to control ticket sales, fan data and revenue, and solve the problem of revenue loss caused by secondary market circulation. It is said that after using the KYD system, the ticketing revenue of LPR, a well-known venue in New York, increased by 30%. KYD plans to expand to more than 100 US venues by 2026, and launched two tokens, $KYD and $TIX, to strengthen the community and financial foundation.