KYD Labs was one of 2023’s crop of web3-focused ticketing platforms, but now it is expanding its business with the launch of something called Tix.
It’s described as a “purpose-built financing and settlement network for the live-events industry” which aims to give venues more independence from big ticketing firms (via “upfront capital from multiple liquidity providers without exclusivity deals”). It also wants to help artists to sell their own tickets, collect fan data and set resale rules.
KYD Labs has been the proving ground for Tix, with the company claiming “over 300,000+ tickets processed, $10+ million in ticket sales, and $2+ million in venue financing over the past 12 months with zero defaults”.
Operating on blockchain platform Solana, you certainly can’t fault Tix for ambition. “By 2029, the goal is to have Ticketmaster, AXS, and other ticketing providers across the live events ecosystem move away from their existing ticket standard to Tix,” it claimed.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
