Clesson, an operating company for blockchain-based NFT (no-fee copyright sharing platform LABEL Foundation) has raised $2,000,000 in equity. This will help it further its Web3 mission. This round was part of a strategic investor round by eBest Investments, Groom Investment and Groom Investment. They have invested money in this leading MOOC/music NFT platform, aiming to propel it into the top of the Web3 content market.
Web3’s growth and evolution has been mirrored in the platform offerings. LABEL Foundation, which will receive the funding, will be able improve the platform, bring over IP holders and finance development expenses.
OPENTRACK founders operate LABEL Foundation in South Korea, a NFT infrastructure. They are changing the industry through this incubation program and access to well-known IPs. The fair profit-sharing model is based on system integration.
OPENTRACK allows students to study at their own pace using a MOOC-style music portal. OPENTRACK 2.0, which was announced recently, has improved interoperability to the LABEL dApp. This new version facilitates a smoother and transparent transition to IP rights.
Already, world-class artists are moving their IP rights over to OPENTRACK. Aaron Spears, who worked alongside the likes Lil Wayne and Lady Gaga, BTS producer Doskim and 11-time Grammy nominee Philip Lassiter are all moving to the new LABEL infrastructure.
Students can learn many instruments and interact with top musicians to improve their abilities. Music experts from various specializations teach classes.
LABEL Foundation’s core team is building the NFT infrastructure for content creators, musicians, and fans, while initial IPs are supplied by Ableton certified parent sister company, OPENTRACK.
LABEL Foundation guarantees fair distribution of profits to artists and investors in P2P. It also eliminates high barriers to entry into the music sector.
According to recent research carried out by Citigroup, creators and artists only receive ⅙ of profits from a song or 12% of total revenue. This injustice is what LABEL Foundation chose to use blockchain technology in creating a fairer system that creators and artists don’t need to go through intermediaries to obtain their income.
Artists won’t have to worry anymore about middlemen fees when they receive royalties through LABEL. Artists and content creators would be free to have full creative control. The platform’s recent strategic partnership with Ankr demonstrates the company’s progress.
“Our team is willing to work towards improvements in the music industry, by solving the biggest issues related to unfair profit-sharing due to intermediaries lion’s share. Since we have huge expertise in the music and entertainment industry, we are aware of what kind of obstacles talented people face in the traditional music industry.” – LABEL Foundation
Groom Investment
Groom Investments, an investment fund which conducts all-round investment in prospective companies, has a portfolio that includes The SmartStudy and CrowdWorks (PreIPO stage), Bespin Global with an accumulated investment of 209 million KRW) and Caroom.
About EBEST Investment & Securities Co., Ltd
EBEST Investment & Securities Co., Ltd is a company that provides financial related services to its clients. It was established in South Korea, and it is currently listed on the KOSDAQ.
EBEST Investment & Securities Co., Ltd engages in the brokerage, dealing, and underwriting of securities businesses, in addition to covering stocks, options, futures, government bonds, corporate bonds, foreign securities, and financial derivatives products. EBEST Investment & Securities Co., Ltd also provides consulting services and is involved in the proprietary trading business.