PANews reported on May 14th that according to CoinDesk, venture capital firm a16z crypto led a $7 million seed round investment for blockchain ticketing platform KYD Labs. KYD is built on Solana, aiming to empower artists and venues to control ticket sales, fan data, and revenue, addressing the issue of revenue loss in secondary market circulation. It is claimed that after using the KYD system, ticket revenue for the renowned New York venue LPR increased by 30%. KYD plans to expand to over 100 US venues by 2026 and launch two tokens, $KYD and $TIX, to strengthen its community and financial foundation.
a16z Crypto Leads $7 Million Seed Round in KYD Labs to Drive Blockchain Ticketing Innovation
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