LABEL Foundation, a platform designed to offset the gap between content sharing practices and blockchain instruments, has its LBL token listed by a major exchange in South Korea.
LBL debuts on heavyweight South Korean exchange Coinone
According to the official announcement by LABEL Foundation’s team, its core native asset, LBL, has been added to the spot trading suite of Coinone, a top-tier South Korean cryptocurrency exchange.
This listing is an outstanding milestone for LABEL Foundation as the financial watchdogs of South Korea are well known due to their super-harsh regulatory scrutiny.
Despite this fact, LBL listing on Coinone passed all the checks. Now, LBL is available in a pair with the Korean Won (KRW): a new liquidity ecosystem has just opened for LBL holders.
Earlier this month, Clesson Co, the owner of LABEL Foundation, secured $2 million in strategic funding from top VCs.
Two participants in the mentioned round are headquartered and incorporated in South Korea. As such, LBL/KRW listing is yet another LABEL Foundation milestone on Korean markets.
LABEL Foundation’s OPENTRACK has its second iteration deployed
LBL token listing campaign mirrors the progress of LABEL Foundation’s main product, i.e., OPENTRACK platform for content creators. OPENTRACK is currently available for creators and commissioners in the upgraded v2 version.
Its instruments allow designers and artists to tokenize intellectual property rights and manage them as non-fungible tokens (NFTs). This implementation of IP protection mechanisms will significantly advance the process of counterfeit protection for all types of content.
Addressing this goal, LABEL Foundation scored the partnership with the top actors of the digital content and media distribution segments.
As reported by U.Today previously, LABEL Foundation is also a pioneering platform to introduce the principles of decentralized autonomous organizations (DAOs) into IP management and copyright protection.
Issued on Ethereum (ETH) blockchain and bridged to Binance Smart Chain, LBL token was introduced to the Web3 community through a two-phase IDO on the RedKite and NFTb launchpads.
Tomiwabold Olajide
Denys Serhiichuk