PRESS RELEASE. LABEL Foundation recently gained authorization from one of South Korea’s main exchanges and a listing position with KRW (South Korean currency), the advancement has immediately followed after Clesson (the parent company) garnered equity capital from two significant investment firms with a strong presence in the local market. The aforementioned exchange was revealed as Coinone.
Moreover, LABEL Foundation has repeatedly demonstrated high-level traction and continued progress with the release of its OPENTRACK content platform’s second iteration and the formation of partnerships with industry heavyweights.
LABEL’s schedule to continue despite lingering regulatory surveillance
Obtaining a listing on South Korean exchanges has become time-consuming and complex due to stringent limitations and high-level scrutiny from financial watchdogs. In the midst of such robust regulatory constraints, the local market appears to have slowed to a crawl. Since they failed to meet the basic regulatory standards, the bulk of the country’s exchanges endured a blackout and are still suffering even now.
LABEL will nevertheless soldier on and continue to operate according to its schedule and roadmap for 2022, which will include certain features such as IPFS for NFT asset storage, an alpha version of the wallet system and the NFT create and smart contract features along with the beta test for the incubating system, and much more.
Additionally, with the launch of their NFT infrastructure and marketplace, LABEL will commence the inflow of protected IP rights, which will then be “NFTized” and provided to customers through the platform’s respective incubation system.
LABEL is a blockchain-oriented NFT platform which promotes music as well as entertainment by providing customers with a variety of easy to use investment instruments and equitable income sharing along with a wide range of reliable marketing techniques. LABEL strives to be an unmatched NFT infrastructure that is built through the utilization of the Ethereum Network and powered by the LBL governance and utility token, with the main objective of building an unbiased profit-sharing economy with permissionless IP rights incorporation.
Ultimately, LABEL wants to get rid of the numerous impediments which have plagued the contemporary entertainment industry. This is primarily because numerous artists currently have to deal with intermediation charges on a frequent basis, and they typically only receive a very small portion of the overall income (about 15%).
LABEL wishes to fix this issue to the greatest extent feasible by disrupting industry standards and eradicating the need for such intermediate procedures as well as third-party involvement and, as a consequence, giving control of the process back to artists and content providers.
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