Press Release
PRESS RELEASE. To ensure longevity and financial prosperity in the industry it’s crucial to create strategic partnerships. LABEL Foundation announced a partnership agreement with Polygon Studios. This will allow them to pursue their multichain goals and launch their Dapp on Polygon Network along with Binance Smart Chains and Ethereum Network.
What exactly is Polygon?
Polygon, a Layer-2 Scaling solution that works with Ethereum Blockchain to speed up and make transactions less costly, is called Polygon. Polygon, a PoS-compliant, Ethereum Virtual Machine, (EVM), Layer-2 solution that allows for fast transactions at minimal cost, is PoS (Proof of Stake) compliant and secure.
Polygon Studios is Polygon’s gaming and NFT division, dedicated to doing its part in terms of building the worldwide blockchain-based gaming and NFT space as well as bridging the gap between Web 2.0 and Web 3.0 gaming via investment, marketing, and developer support.
What does collaboration do?
LABEL’s collaboration with Polygon benefits everyone involved in two main ways. Firstly, it allows the LABEL team to have a large throughput and scale for their NFT marketplace without charging exorbitant fees, and secondly it helps in providing the ability to link other various projects in Polygon’s ecosystem.
Moreover, LABEL has recently established an on-ramp payment partnership with one of the unicorn firms in the industry – MoonPay, which also happens to be the strategic partner of Polygon Studios, which both are currently collaborating to launch the NFT NYC event in June. The LABEL team plans to leverage their ties with Polygon-based projects. In addition to this, LABEL Foundation is extending Polygon’s network of projects and shall continue to interact with them for the foreseeable future.
What is LABEL?
LAEBL Foundation is an NFT infrastructure that serves as an incubator for world-class entertainment-education material. LBL Governance and the utility token support the foundation with the ultimate goal to create a profit-sharing, fair economy. LABEL Foundation’s recent high was also achieved in the midst a market crash. Coinmarketcap reports that the price of it has increased by 140% in the past weekend, to $0.044 US Dollar.
It also has more than 100 courses, and prominent artists are available to use its platform. LABEL Foundation is developing a Blockchain-based online education platform. LABEL’s NFT marketplace will be open in June. This will offer a range of collectibles, goods and profit sharing NFTs. LABEL is currently accepting artists to participate in upcoming NFT releases.
Ultimately, LABEL aims to make LABEL more interoperable than many other chains. Multichain is the future of multichain, and the team believes that it will be a long-term goal to make other networks more interoperable. For the time being though, it will accept NFTs produced in Polygon as well as payment using LABEL’s ERC-20 and BEP-20 tokens.
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