Le Poisson Rouge (LPR), a well-known music venue in New York City, has recently teamed up with KYD Labs, a live event ticketing platform, to revolutionize its ticketing system by moving it onto the blockchain.
This groundbreaking partnership was announced by Aptos Labs on Tuesday, marking the start of an exclusive four-year agreement between KYD Labs, LPR, and the Aptos blockchain. This move makes LPR the first major venue in the United States to fully embrace on-chain ticketing, setting a new standard in the industry.
According to the Aptos team, this collaboration signifies a significant milestone for Web3, offering patrons and music enthusiasts of Le Poisson Rouge a fresh and innovative event experience. Avery Ching, the CTO and co-founder of Aptos Labs, highlighted the advantages of on-chain ticketing, such as enhanced interoperability, direct connections between event organizers and ticket buyers, streamlined promotions, and secure secondary sales.
By leveraging blockchain technology through KYD Labs, LPR aims to enhance the ticketing process for its fans while providing artists with new opportunities to interact with their audience through on-chain initiatives. This shift to on-chain ticketing eliminates the obstacles and limitations associated with traditional ticketing systems, paving the way for a more transparent and efficient ticketing ecosystem.
In addition to monitoring secondary ticket sales, Le Poisson Rouge plans to utilize Aptos to establish a clear and transparent framework for its loyalty programs, pricing strategies, and booking procedures. This move aligns with the venue’s commitment to innovation and customer satisfaction.
Established in 2008, Le Poisson Rouge has become a cultural landmark in New York City’s music scene. Aptos, a Layer-1 blockchain introduced in October 2022, offers a scalable network with low transaction costs, making it an ideal platform for powering LPR’s ticketing operations and enhancing the overall fan experience.
The integration of on-chain ticketing at Le Poisson Rouge represents a significant shift in the live event industry, signaling a new era of transparency, efficiency, and engagement for both venues and patrons. By embracing blockchain technology, LPR is setting a new standard for ticketing systems in the United States and paving the way for future innovations in the entertainment sector.