A blockchain initiative focused on transforming event ticketing and empowering creators has successfully completed a significant seed funding round. KYD Labs, which develops tools for direct distribution for artists and venues, announced it has secured $7 million in investment.
This funding was notably led by a16z crypto, the cryptocurrency arm of the venture capital firm Andreessen Horowitz. The news of the successful round was shared by the company on its official X account.
Excited to announce we’ve raised $7M led by @a16zcrypto CSX to build a factoring protocol for venues and deliver loyalty rewards to fans
We’re the first web3 company to onboard legendary venues like LPR and H0l0, driving $4M+ in ticket sales in the past year alone pic.twitter.com/FBFHWcm0Hd
— kyd. (@KYDLabs) May 14, 2025
Platform Technology and Accessibility
KYD’s underlying technology is built on the Solana blockchain. A key feature designed for broader accessibility is enabling ticket purchases in under 30 seconds using just a phone number, eliminating the need for a cryptocurrency wallet for attendees.
Empowering Artists and Venues
According to KYD founder Ahmed Nimale, the platform was created to ensure artists and venues retain control over their distribution channels. He pointed out that creators frequently lose potential revenue and lack access to critical audience data, largely due to the dynamics of the ticket resale market. KYD, short for “Keep Your Distribution,” aims to address this.
The platform seeks to solve these issues by offering artists and venues direct access to sales analytics and payment processing. This direct connection is intended to guarantee that those who create and host events benefit directly from ticket sales.
Future Token Plans
Looking ahead, KYD Labs intends to launch two distinct digital tokens. The KYD token is envisioned to be used for raising capital for tours and performance venues. Additionally, plans include creating a TIX token, which will serve as a mechanism to reward platform users.
Chris brings over six years of hands-on experience in cryptocurrency, bitcoin, business, and finance journalism. He’s known for clear, accurate reporting and insightful analysis that helps readers stay informed in fast-moving markets. When he’s off the clock, Chris enjoys researching emerging blockchain projects and mentoring new writers.