Blockchain-based content incubation platform LABEL will take another step into fulfilling its vision. The LABEL Foundation announced that it has raised $1.0 million in a private sales round to fund an NFT ecosystem and support entertainment-education infrastructure to disrupt the Massive Open Online Course (MOOC) sector.
Creating a platform that uses blockchain technology to support investment, distribution, and content promotion, LABEL was launched to take down the barriers that operate as obstacles for content creators.
In that sense, LABEL leverages the power of the Ethereum network in addition to a governance model that includes its own token called LBL. The platform’s ultimate goal is to create an ecosystem based on fair profit integrated with IP rights.
Its latest private token sale round saw participation from some of the most relevant venture capital names and institutional investors in the space, such as HG Ventures, Mindfulness Capital, IOST, M6, Adaptive, Icetea Labs, Alphabit, Pragma, and GBIC.
These investors have come together to support an initiative with the potential to drive the crypto industry into the mainstream. Simon Jeung, Co-Founder at HG Ventures, one of the lead investors in the private sale round praised the core team’s commitment to transform the entertainment-education market with a blockchain-based platform and infrastructure by combining it with the MOOC industry. Jeung said:
We believe that NFTs will definitely need the next level of adoption, and the musicians, artists and other content creators that were previously restrained from their legitimate profits will now be able to protect their rightful IP rights in the most innovative NFT infrastructure platform.
How LABEL Will Take Education To The Next Level Using Blockchain Technology
LABEL allows its users to benefit from a decentralized Peer-to-Peer (P2P) incubating platform. In that way, users can invest in high-quality entertainment education via a trustless platform integrated with a DAO voting system.
Thus, LABEL investors have incentives to participate in the voting process to claim rewards using the NFT shareholding mechanism. LABEL provides users with verification, investment matching, and additional features such as distribution interlocking supported by the DAO.
In that sense, LABAL removes the need to rely on and trust third-party entities. Content creators from the MOOC sector will be able to benefit from all this becoming part of an initiative aimed at breaking down the unfair profit structure already in place in the sphere while preventing others to violate their copyrights.
The LABEL Foundation has already secured top partners to get its platform on track. The most important is OPENTRACK, a leading music education platform run by Clesson. The partners will bring top talent to the educational courses.
This includes 3 times Grammy Winner Market Lettieri, 2 times Grammy Nominee Scoop DeVille, 6 times Grammy Winner and BTS producer Dockskim, and many more relevant artists and instructors with a major role in the current music landscape.
These artists will teach based on their own personal experiences in music and its industry, giving students and deep look into its complexities. In addition, some might even offer their Intellectual Property (IP) rights via LABEL’s incubating system. This will allow them to register their courses on the Ethereum blockchain as NFTs and early investors will receive the NFT shares.
The LABEL Foundation expects this revolutionary system to take crypto and blockchain into their next phase of mass adoption by giving content creators around the world a tool to protect their IP by turning it into NFTs secure by the Ethereum blockchain and LBL holders with incentives to safeguard the platform and actively build its future.
This system will also enable content creators and the artist that will support the LABAL platform entertainment educational program to receive funding for their courses. The LABEL community will decide which courses can register on the platform to receive financial support by staking their LBL tokens with the DAO governance and its voting system.
After, the courses selected by the LABAL community will be minted on the Ethereum blockchain under the ERC-1155 NFT standard. Thus, all token holders will be able to access the share ratio of the ownership in relation to their contribution and early investment.
True to the ethos of the crypto space of transparency, LABEL will publish sales revenue information from their partners on a special NFT website with the revenue generated by each of the courses supported by the community.
Early investors can take their NFT shares, liquidate them, and use the LABEL Foundation NFT marketplace to take their profits or maintain their access to IP rights and claim the partial profits yield by the courses. Using this revolutionary model, LABEL is set to make an impact in the MOOC sector and the crypto industry.