Home
News
Web3.0 era has brought the new iteration of the internet and is based on blockchain technology. In such an ecosystem distributed users and machines are able to interact with data, value, and other counterparties could interact through a substrate. Indeed, the world dominated by firms offering services in exchange for our privacy has been disrupted.
In the Web3.0 sphere, the parent company of LABEL Foundation, a blockchain-based, NFT, copyright fee sharing platform that introduced an incubation system that supports investment,distribution, and promotion has raised $2 million in a recent equity funding round.
LABEL Foundation’s operating firm raises $2M
Clesson, the operating firm behind the blockchain project, has raised $2 million in a recent equity funding round. The funds have been received from eBest Investments & Securities and Groom Investment.
Notably, eBest is a leading South Korean asset management firm. In contrast, Groom is an early-stage investment fund that has committed the aforementioned amount in equity funding as part of a new collaboration.
How would LABEL get in the forefront of Web3.0?
The latest raised funds would be used to advance Web3.0 and the NFT ecosystem for musicians, fans, and content producers. Moreover, the firm seeks to boost revolution in the entire sphere.
According to the LABEL team, the fresh funds will help expedite the construction of a massive online open course (MOOC) and music Non-Fungible Token infrastructure. Besides, the funds would also help the team to attract more skilled intellectual property (IP) holders onto the platform.
LABEL would abolish intermediaries
The team behind LABEL had announced the release of Opentrack version 2.0. The platform offers better compatibility with the Label decentralized application. Meanwhile the newly introduced version simplifies the transfer of intellectual property rights by making it clearer, smoother, and more user friendly.
The foundation uses blockchain technology while focusing on transforming the MOOC and music industries. The core team is also developing an NFT-based infrastructure for users while the initial IPs are offered by the Ableton-certified firm Opentrack.
LABEL Foundation brings transparency and P2P utility where no middlemen may benefit from the artists and musicians across the sphere.
