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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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a16z Crypto leads a $7 million seed round financing for KYD Labs, driving innovation in blockchain ticketing.
PANews reported on May 14 that venture capital firm a16z Crypto led a $7 million seed round financing for the blockchain ticketing platform KYD Labs, according to CoinDesk. KYD is built on Solana and aims to empower artists and venues to control ticket sales, fan data, and revenue, addressing the revenue loss issues caused by Secondary Market circulation. It is said that after using the KYD system, the ticket revenue of the renowned New York venue LPR increased by 30%. KYD plans to expand to over 100 venues in the United States by 2026 and launch two tokens, $KYD and $TIX, to strengthen the community and financial foundation.