Le Poisson Rouge (LPR), an iconic music venue in New York City, has entered into an exclusive partnership with live event ticketing platform KYD Labs to bring its ticketing system on-chain.
On Tuesday, Aptos Labs announced that KYD Labs and LPR have entered into an exclusive four-year agreement under which the Aptos blockchain will power all shows and tickets at the historic NYC venue.
LPR is the first major US location to go completely on-chain
The partnership marks the first time a major US venue has gone fully on-chain, the Aptos team reported on Rouge a new experience.
“A major US venue with hundreds of thousands of tickets per year moving to on-chain ticketing is a major step forward for the utility of blockchain. Ultimately, ticket sales will all take place through the chain. Better interoperability, connecting event organizers directly to buyers, easy promotions and verified secondary sales are some of the big benefits,” said Avery Ching, the CTO and co-founder of Aptos Labs.
KYD Labs will help LPR leverage the benefits of blockchain technology to improve the ticketing experience for fans. Leveraging Aptos’ technology will also be critical for artists, who can further engage with fans through on-chain initiatives.
Going on-chain removes the challenges and barriers associated with legacy ticketing systems.
Overall, LPR will leverage Aptos to not only monitor secondary ticket sales, but also provide a transparent mechanism for its loyalty programs, pricing and booking rates.
Le Poisson Rouge opened in 2008 and has become a historic music venue in New York. Aptos is a Layer-1 blockchain that launched in October 2022 and offers a scalable network with low transaction fees.