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LABEL Foundation – NFT infrastructure set to Reform the Entertainment Industry in the Web 3.0 -Breaking

by Mike Robinson

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© Reuters. LABEL Foundation – NFT infrastructure set to Reform the Entertainment Industry in the Web 3.0
  • The LABEL Foundation provides the IPs for its NFT infrastructure platform.
  • LABEL signs an agreement with Ankr and Curvegrid’s MutiBass middleware.
  • OPENTRACK is the sister platform and has released 2.0 of their platform.

South Korean NFT Infrastructure Multichain Protocol — LABEL Foundation, the decentralized version of OPENTRACK is paving the way for a revolution in the entertainment/music industry by delivering its first renowned IPs to its NFT infrastructure platform by taking advantage of the numerous perks of Web 3.0 and implementing the blockchain technology into its system.

The team claims that they will do this by using P2P investment to finance the potential creators in an entirely decentralized, permissionless way. LABEL Foundation appears to be well on the road towards achieving its goals. It has raised over 1 million USD in a successful funding round. This was spearheaded by HG Ventures with support from GBIC, Alphabit Fund and other institutional investors. It also received an additional investment by Solanium Ventures. LABEL Foundation completed their private round by selling their shares through an Initial DEX Offering via PolkaFoundry’s NFTb platform. The listing of PancakeSwap on the Decentralized AMM platform was followed. PancakeSwap saw initial trading reach an incredible %4,600.

The LABEL Foundation’s whitepaper outlines its goal to remove the obstacles that exist around the entertainment sector, which makes it difficult for artists to bear the cost of intermediary. The LABEL Foundation aims to change the structure to benefit musicians, artists and other content creators. To LABEL, they are the savior to disrupt the industry’s standards.

LABEL Foundation claims that the bearish cryptocurrency markets have not stopped them from pursuing their goals. Instead, their business is growing seamlessly according to their plan. This is evident by the fact that they have signed several strategic partnerships, and received investment funds necessary for their growth.

It is important to note that OPENTRACK supplies all content and IPs required by LABEL. OPENTRACK recently released the 2.0 version of their platform that offers an entertainment-specialized Learning Management System and secured certification from Ableton.

The couple plans to attract some stars and well-known artists to their platform, such as Doc Sskim, BTS’s producer and numerous Grammy-award winners Philip Lassiter or Robert Sput Searight.

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