Amid another wave of NFT euphoria, LABEL Foundation is developing a user-friendly endpoint to allow crypto enthusiasts to trade intellectual property rights for mainstream content.
Bringing DAO ethos to IP management: What is LABEL Foundation?
LABEL Foundation is designed to introduce blockchain-based instruments to the segment of content distribution and the entertainment industry.
At its core, LABEL Foundation is set to reconsider the way that revenue from content is fairly distributed. With this product up and running, the entire revenue will go to artists, producers and musicians by eliminating all intermediaries.
The entire procedure of IP trading with LABEL Foundation DAO takes place in a peer-to-peer manner: it makes IP management more flexible and democratic.
On Oct. 25, 2021, LABEL Foundation secured $1 million from top-tier VC foundations and reputable angel investors. It additionally raised funds from Solanium Ventures in Q4, 2021.
Technically, LABEL Foundation is a platform for NFT creation: users can create non-fungible tokens associated with their content. These NFTs can be sold in a fair decentralized manner on both LABEL’s marketplace and third-party platforms on Ethereum like OpenSea and Rarible.
LABEL Foundation is a decentralized iteration of the OPENTRACK platform. OPENTRACK itself has recently released version v2.0, which integrated an entertainment-specialized Learning Management System.
Since 2021, OPENTRACK has been endorsed by BTS icon Doc Skim and multiple Grammy-winning creators like Philip Lassiter and Robert Sput Searight and recently secured certification from the Ableton: it confirms the highest standards of its IP management ecosystem and instruments.
Last but not least, LABEL introduced LBL, its native Ethereum-based token. It is designed to introduce the LABEL Foundation to Web3 community enthusiasts. LBL token was released to the public on mainstream IDO launchpads RedKite and NFTb.
Furthermore, LABEL has once again confirmed their commitment to bringing the multichain NFT infrastructure to their platform, as they have signed an agreement officially with Ankr to utilize their nodes and Curvegrid’s MultiBaas middleware to support Label’s infrastructure.
LABEL is a blockchain-based, NFT, copyright fee-sharing platform that introduces an incubation system that supports investment, distribution, and promotion processes to break down high barriers to existing content production and investment and dismantles the current unfair profit distribution structure. LABEL is built on top of Ethereum Network, powered by LBL utility and governance token with a unified goal to establish a fair profit-sharing ecosystem with the permissionless integration of IP rights.