a16z Crypto Bets $7M on KYD Labs to Disrupt Ticketing—Because Scalpers Needed a Tech Upgrade
Andreessen Horowitz’s crypto arm just threw $7 million at KYD Labs, a startup promising to fix the broken ticketing industry—or at least give blockchain bros something new to hype.
Web3 meets event tickets: KYD’s platform aims to slash fraud, kill fake tickets, and maybe—just maybe—prevent another Taylor Swift Eras Tour resale fiasco. (Spoiler: Wall Street will still find a way to profit.)
The play? Tokenized tickets with embedded royalties, turning every resale into a payday for artists and venues. Scalpers hate this one trick!
Bottom line: If this works, it could gut Ticketmaster’s monopoly. If it fails? Well, at least a16z got their blockchain buzzword bingo card stamped.
Blockchain-Based Efficiency
KYD’s platform, built on Solana, offers a streamlined ticket-buying experience. Fans can purchase tickets in under 30 seconds with just a phone number, bypassing crypto wallet complexities.
Venues see increased engagement and revenue—LPR reported a 30% rise in ticket sales and millions in additional income 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.
The platform also plans to roll out two new protocol layers: the $KYD token to provide capital for venues and tours, and the $TIX reward token to incentivize fan loyalty, functioning similarly to airline miles. These features are designed to strengthen financial stability for artists and venues while fostering community engagement.
Expanding Horizons
KYD has processed $4 million in ticket sales and earned over $1 million in revenue within the past year. It plans to expand to more than 100 U.S. venues by 2026 and eventually aims to power live event commerce at major arenas worldwide.
By leveraging blockchain for ticketing, KYD Labs is positioning itself as a modern alternative to traditional ticketing giants, promising greater autonomy for creators and a smoother experience for fans.
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