Solana ticketing platform XP raises $6.2M

By: cryptosheadlines|2025/05/16 05:45:05
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com This is a segment from the Lightspeed newsletter. To read full editions, subscribe.XP, a ticketing resale exchange built with Solana rails, has raised $6.2 million in a seed round led by Blockchange, the platform tells Lightspeed exclusively.L1D and Reflexive also participated in the round. XP uses Solana rails for discounted ticket sales, but hints at grander ambitions surrounding fan experience down the road. XP is one of a number of upstart ticketing exchanges seeking to disrupt the popular but widely-disliked incumbents such as TicketMaster and SeatGeek. These ticketing titans caught the ire of the Biden administration, which just had a rule banning hidden so-called junk fees from ticketing platforms go into effect on Monday.XP lists all-in prices by default. Its listed prices for tickets to upcoming New York Mets games roughly track with prices on TickPick, another popular resale ticketing app.The Solana of it all comes from the ticketing codes, which are encrypted as NFTs. You wouldn’t know that from browsing the website, though — the only apparent crypto mention is the option to connect a crypto wallet and pay for tickets in USDC.“XP has sold millions of dollars in annualized ticket sales to thousands of customers,” XP founder and CEO Mike Saunders said when I asked about the platform’s traction. He did not give a firm answer when I asked if XP would be launching a token.Saunders has been around the block: His 1990s food ordering and menu website company was acquired by GrubHub in 2011. Saunders went on to found a tech development shop named Blueprint before starting XP, which is his first foray into blockchain. I actually met Saunders briefly at the Solana Boston conference in October, where I recall him saying he thinks about his startup constantly and obsessively. But whether all that thinking creates venture-scale returns following this fundraise may depend on XP’s coming expansion. Ticketing marketplaces are a crowded field, and with the Biden junk fees rule in effect, transparent pricing may become a bit less of a selling point. On its site, XP teases that the platform will soon be about “more” than just tickets. Saunders also added that XP has plans in the works for users to be able to list and resell their own tickets. “Fandom is deeply personal, and we believe blockchain unlocks a whole slew of opportunities for fans to be recognized, celebrated and rewarded,” Saunders said. “Our goal is to leverage verified fandom to provide access to special rewards, epic experiences and exclusive perks to members of the XP community.”Get the news in your inbox. Explore Blockworks newsletters:Source link

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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