Venture Capital Firm A16Z Crypto has led a 7 million dollars to Kyd Labs, a blockchain-based ticket platform aimed at giving artists and venues control over ticket sales, fucking and revenue.
The investment is coming as Kyd seems to expand its presence alive event room, which is already showing success at iconic venues such as New Yorks Le Poisson Rouge (LPR), the company said in a press release.
Kyd Labs is founded by Ahmed Nimal, a former product manager at Ticketmaster, and David Barrick, the creator of the Ad-Tech platform Flipmass, appears to tackle long-term problems in ticketing: Lost revenue from artists and venues.
Typically, artists and venues lose revenue as secondary sales and ticket platforms control customer data. Kyd aims to change it by offering venues direct access to fan insights and revenue streams.
“We built Kyd, who stands for ‘Keep Your Distribution’, to make sure no artist or venue should ever pray for something rightly theirs,” said Nimale, speaking at Coindesk’s Consensus 2025 in Toronto.
Blockchain-based efficiency
Kyds platform built on Solana offers a streamlined ticket purchase experience. Fans can buy tickets in less than 30 seconds with only a phone number bypassing crypto -tejtogen book complexities.
Venues see increased commitment and revenue – LPR reported a 30% increase in ticket sales and millions in additional revenue since they adopted KYD’s system.
“Since we adopted Kyd’s tools, we have been able to double our return on investment and significantly improve the overall efficiency,” said Shannon Wiles, Marketing Director at LPR.
The platform also plans to roll two new protocols: $ KYD -Tokenet to provide capital to venues and trips, and $ Tix reward to incentive fan -loyalty that works in the same way as the airline Miles. These features are designed to strengthen the financial stability of artists and venues while promoting community engagement.
Expansion of horizons
Kyd has been dealing with $ 4 million in ticket sales and earned over $ 1 million in revenue within the past year. It plans to expand to more than 100 US venues in 2026 and eventually aims to run live event trading in larger arenas around the world.
By utilizing blockchain for ticketing, Kyd Labs places itself as a modern alternative to traditional ticket giants and promises greater autonomy for creators and a smoother experience for fans.
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