Key Takeaways
- Le Poisson Rouge has partnered with the live event ticketing platform KYD Labs to fully embrace on-chain ticketing.
- LPR becomes the first major U.S. music venue to adopt blockchain technology for ticketing, leveraging the Aptos blockchain to enhance transparency and efficiency in ticket sales.
- The partnership empowers artists and venues by providing direct access to fan data, enabling better marketing strategies, optimized ticket pricing, and enhanced fan engagement, which are traditionally limited by legacy ticketing systems.
New York City’s iconic music venue, Le Poisson Rouge (LPR), has announced an exclusive, multi-year partnership with KYD Labs, a live event ticketing platform, to power all shows and tickets on-chain. This collaboration marks a significant milestone as LPR becomes the first major U.S. venue to transition its entire ticketing system on-chain.
Formerly known as The Village Gate, LPR has stood as a cornerstone of New York’s music scene for over sixteen years, hosting legendary performances by icons such as Jimi Hendrix and John Coltrane. Under its current moniker, LPR has continued this legacy with an impressive roster of artists including Christina Aguilera, Skrillex, and exclusive residencies by Jeff Goldblum and Action Bronson. LPR is transforming the U.S. music industry during a time of notable dissatisfaction with traditional ticketing giants.
The decision to partner with KYD Labs stems from LPR’s commitment to leveraging cutting-edge technology to benefit both artists and fans alike. By harnessing the Aptos blockchain, KYD Labs enables LPR to streamline ticketing operations, ensuring that artists have unprecedented access to fan data while enhancing overall fan engagement. This move not only promises to optimize ticket pricing and booking rates but also curtails secondary market resales by empowering LPR to capture 100% of fees on resale transactions.
“As both a musician and independent venue owner, I’m excited to explore new technologies with the potential to finally bring tangible benefits to artists and venues,” David Handler, Co-Founder of LPR said in a statement.
“Giving artists more direct access to their public is exciting, deserved, and overdue. The detailed metrics provided by KYD create an unprecedented opportunity to leverage customer data to remain competitive,” Handler added.
KYD Labs currently serves 500,000 fans, providing tools that allow venues like LPR to maximize their ad spend efficiency and return on investment.
KYD Labs’ approach not only addresses the inefficiencies of traditional ticketing but also amplifies marketing efforts through integrated customer acquisition tools.
Ahmed Nimale, Co-Founder and CEO of KYD Labs, emphasized the transformative impact of their partnership with LPR, stating, “We’re empowering artists and venues to reclaim control over their ticketing processes. By removing the barriers imposed by legacy ticketing providers, we’re ushering in a new era where fan data is transparently accessible, driving greater efficiency and revenue.”
By automating the utilization of artist and venue data, KYD Labs enables LPR to achieve up to 10x returns on ticket, merchandise, and advertising expenditures. This direct-to-consumer model not only enhances advertising returns but also triples the reach of paid campaigns across platforms like TikTok, Instagram, and Snapchat.
Mo Shaikh, CEO and Co-Founder of Aptos Labs, an investor in KYD Labs, said: “KYD Labs is correcting the missteps of legacy ticketing providers by removing the friction synonymous with Web2 ticketing for fans, and enhancing experiences on top of that with real-world rewards.”
