Le Poisson Rouge (LPR), a globally recognized music venue, today announced a partnership with KYDLabs (KYD) to fully embrace the Aptos blockchain.
KYD, a live event ticketing platform, is revolutionizing the multi-billion dollar event and ticketing industry by introducing the unique benefits of Web3. KYD's ticketing system is powered directly by the Aptos blockchain, and this partnership means that all of LPR's events and ticketing will be exclusively powered by the Aptos network.
LPR has a 60-year history of hosting music legends such as Jimi Hendrix, Blondie and Stevie Wonder, as well as renowned musicians such as David Byrne, Sufjan Stevens, Philip Glass and Amanda Palmer.
This is the first time an arena of this size and history in the United States has moved its ticketing operations entirely to the blockchain, an unprecedented milestone for a new force in the ticketing industry. Through this partnership, LPR will not only be able to control all revenues from the secondary ticketing market, "or completely control scalping," but also gain access to a range of new opportunities, including "implementing loyalty programs, optimizing ticketing strategies, improving booking efficiencies, and enhancing fan experience ".
This partnership not only demonstrates the practical application of the Aptos network in solving problems in traditional industries, but also shows that traditional businesses are gradually realizing the many benefits of blockchain technology.
As Mo Shaikh, CEO and co-founder of AptosLabs, said, "The need for blockchain applications in the entertainment and ticketing space has never been stronger...fans, venues and artists all deserve better.KYD Labs is correcting the shortcomings of traditional ticketing providers, eliminating the Web2 ticketing inconvenience for fans and building on that to enhance the user experience with real rewards." The move marks a significant step in the application of blockchain technology in the entertainment industry and highlights its potential to improve the challenges of the traditional ticketing industry.
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