LABEL Foundation (LBL), has been added to the South Korean digital asset exchange Coinone. It is a significant milestone for the project as South Korea has the strictest crypto listing laws in the world. This process requires detailed reporting, high-level scrutiny by local financial watchdogs and a lot of work. LABEL Foundation is now listed on Coinone.
Coinone and other crypto exchanges are the only ones left in the wake of the market closure that saw many regional exchanges close their doors because they couldn’t comply with stringent regulations. This is because cryptocurrencies in the country aren’t considered legal money. Crypto exchanges must follow strict regulations and projects cannot be exempted from those guidelines.
After proving compliance with these regulations, LABEL Foundation was recently approved to list on the cryptocurrency exchange. It also has a spot for the KRW (South Korean money). Clesson (the parent company) raised $2million in equity funding for the project to make it a leader in Web 3.0 content production.
This $2 million equity funding came from two large investment funds; EBest Investment & Securities and Groom Investment, both of which are established players in South Korea.
LABEL Foundation Keeps Growing
Since it was founded, LABEL Foundation’s growth has been rapid and the company has maintained this trend. OPENTRACK, its content platform has seen significant growth and success since the launch of the 2nd edition. There have also been numerous partnerships with industry leaders.
This growth has been supported by the decentralization platform, the development of an NFT infrastructure and a marketplace which is intended to encourage the inflow of secure IP rights. They will all be available through the platform’s incubation.
OPENTRACK means that music artists are no longer subject to the predatory profit-sharing system prevalent in the music industry. The platform’s peer-to-peer profit-sharing system makes it a fair and transparent system where artists take home a larger percentage than they would under current systems.
LABEL Foundation, a platform for educational content and NFT that uses blockchain, is revolutionizing the world of music. This platform brings together top talents from all over the world and allows students to explore various music styles at their own pace. Users have simple options for investment, fair income sharing and reliable marketing. It is built on Ethereum and operated by Clesson (a South Korean music education tech company).
