a16z Crypto Leads $7M Round in KYD Labs to Transform Ticketing Industry
Venture capital firm a16z Crypto has led a $7 million seed round for KYD Labs, a blockchain-based ticketing platform aimed at giving artists and venues control over ticket sales, fan data, and revenue.
The investment comes as KYD looks to expand its presence in the live event space, already showing success at iconic venues like New York’s Le Poisson Rouge (LPR), the firm said in a press release.
Founded by Ahmed Nimale, a former product manager at Ticketmaster, and David Barrick, creator of the ad-tech platform Flipmass, KYD Labs is looking to address long-standing issues in ticketing: lost revenues by artists and venues.
Typically, artists and venues lose out on revenue as secondary sales and ticket platforms control customer data. KYD…
