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May 15, 2025 – KYD Labs, a Web3 ticketing platform built on the Aptos blockchain, has announced the successful close of a $7.1 million seed funding round led by a16z Crypto. This investment will fuel KYD Labs' mission to empower artists and venues by providing them with greater control over ticket sales, fan data, and revenue streams.
The round also saw participation from Techstars, Finality Capital Partners, Ambush Capital, and angel investors including Jay Eum, Nakul Gupta, Gabriela Gironas, and Reem Ahmed. This funding follows a previous incubation round of $500,000 led by a16z CSX, bringing the total raised to $7.6 million.
KYD Labs addresses the persistent challenges of lost revenue and lack of control experienced by artists and venues in the traditional ticketing industry. By eliminating intermediaries, KYD Labs enables direct-to-fan ticket sales, reducing costs and enhancing transparency. The platform offers a suite of innovative features, including automated marketing tools, resale control mechanisms, and loyalty rewards programs, ensuring that creators retain more value from their events.
"We built KYD, which stands for 'Keep Your Distribution,' to make sure no artist or venue ever has to ask again for something that is rightfully theirs," said Ahmed Nimale, co-founder and former product manager at Ticketmaster.
Key Features and Benefits of KYD Labs:
- Direct-to-Fan Sales: Eliminates intermediaries, reducing costs and increasing revenue for artists and venues.
- Resale Control: Artists and venues can set parameters for ticket resale, minimizing scalping and maximizing revenue potential.
- Automated Marketing Tools: Streamlines marketing efforts and expands reach to targeted fan bases.
- Loyalty Rewards: Incentivizes fan engagement and repeat attendance through rewards programs.
- Enhanced Transparency: Provides clear and accessible data on ticket sales and revenue distribution.
- Streamlined Purchasing: Fans can purchase tickets quickly and easily with just a phone number.
- Blockchain Security: Leverages the Aptos blockchain for secure and transparent ticket management.
Early Success and Future Expansion:
KYD Labs has already demonstrated significant traction, processing over $4 million in ticket sales and generating over $1 million in revenue within the past year. The platform has seen success at iconic venues like New York's Le Poisson Rouge (LPR), which reported a 30% increase in ticket sales since adopting KYD's system.
"Since adopting KYD’s tools, we’ve been able to double our return on investment and significantly improve overall efficiency," said Shannon Wiles, Marketing Director at LPR.
KYD Labs plans to expand to over 100 U.S. venues by 2026 and aims to power live event commerce at major arenas worldwide. The platform is also developing two new protocol layers: the $KYD token to provide capital for venues and tours, and the $TIX reward token to further incentivize fan loyalty.
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