PANews reported on May 14 that according to CoinDesk, venture capital firm a16z Crypto led a $7 million seed round of financing for blockchain ticketing platform KYD Labs. KYD is built on Solana and aims to empower artists and venues to control ticket sales, fan data and revenue, and solve the problem of revenue loss caused by secondary market circulation. It is said that after using the KYD system, the ticketing revenue of the well-known New York venue LPR increased by 30%. KYD plans to expand to more than 100 US venues by 2026, and launch two tokens, $KYD and $TIX, to strengthen the community and financial foundation.