KYD Labs raises $7 million in seed funding led by a16z Crypto

TechFlow, May 14 — According to CoinDesk, venture capital firm a16z Crypto has led a $7 million seed round for blockchain ticketing platform KYD Labs. Built on Solana, KYD aims to empower artists and venues to control ticket sales, fan data, and revenue, addressing income loss caused by secondary market trading. It is reported that after adopting the KYD system, New York's renowned venue LPR saw ticket revenue increase by up to 30%. KYD plans to expand to over 100 U.S. venues by 2026 and launch two tokens, $KYD and $TIX, to strengthen its community and financial foundation.