a16z Crypto Leads $7M Seed Round for KYD Labs, Boosting Live Event Ticketing

Venture capital firm a16z Crypto has led a $7 million seed round for KYD Labs, a blockchain-based ticketing platform. The platform aims to give artists and venues control over ticket sales, fan data, and revenue. This investment comes as KYD Labs looks to expand its presence in the live event space, having already shown success at iconic venues like New York’s Le Poisson Rouge (LPR).

Founded by Ahmed Nimale, a former product manager at Ticketmaster, and David Barrick, creator of the ad-tech platform Flipmass, KYD Labs is addressing long-standing issues in ticketing, such as lost revenues for artists and venues. Typically, artists and venues lose out on revenue as secondary sales and ticket platforms control customer data. KYD aims to change that by offering venues direct access to fan insights and revenue streams.

“We built KYD, which stands for 'Keep Your Distribution,' to make sure no artist or venue ever has to ask again for something that is rightfully theirs,” said Nimale, who is a speaker at Consensus 2025 in Toronto. 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.

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.