LABEL Foundation just received approval and a listing status on one of South Korea’s leading exchanges (South Korean currency).
Clesson (the parent company) received equity financing from two major investment firms with a substantial position in the local market. The advancement came almost immediately. They revealed Coinone to be the source of the aforementioned transaction.
Furthermore, the LABEL Foundation has exhibited a significant level of traction on numerous occasions. It has made progress with the launching of the second version of its OPENTRACK content platform. As well as forming strategic alliances with industry leaders.
LABEL’s Schedule Maintained
Getting a listing on a South Korean exchange has become a lengthy process. Due to strict constraints and high-level inspection from financial watchdogs, it has also proven complicated.
The local store appears to have come to a halt in the face of such severe regulatory restraints. The blackout affected the majority of the country’s exchanges, which is currently ongoing. It is because they didn’t meet the most basic regulatory requirements.
LABEL, on the other hand, will persevere and continue to function in accordance with its 2022 timeline and strategy. The included certain functionality, such as IPFS for NFT asset storage, at this time. The wallet system’s alpha version is also in. The NFT create and smart contract capabilities were also included, as well as a beta test for the incubation system.
LABEL will also begin the inflow of protected IP rights with the introduction of their NFT infrastructure and marketplace. It will be “NFTized” and made available to clients via the platform’s incubation system.
What Exactly is LABEL?
LABEL is a blockchain-based non-financial transaction (NFT) network that promotes music. It also encourages enjoyment by offering a choice of simple investment options to customers. It is also a fair income sharing along with a broad selection of trustworthy marketing strategies when executing these.
The network aspires to create an unrivaled NFT infrastructure built on the Ethereum Network. The LBL governance and utility token also backs it. Furthermore, the primary goal is establishing an unbiased profit-sharing economy through the inclusion of permissionless IP rights.
Thus, LABEL’s ultimate goal is to eliminate the myriad barriers that have hindered the modern entertainment industry. This is due to the fact that many artists then have to deal with intermediation fees on a regular basis. As a result, they usually only receive a small fraction of the total money (about 15 percent ).
LABEL wants to get to the bottom of this problem as quickly as possible by upsetting industry standards. It would also eliminate the necessity for intermediary procedures and third-party participation. As a consequence, artists and content suppliers will regain control of the process.
