Label Foundation Raises $1.1M in Private Sale Funding Round

NFT infrastructure & entertainment education platform Label Foundation excitedly announced that it has successfully raised $1.0 million in its private sale funding round. The company aims to utilize the said amount of money to build a blockchain-oriented ecosystem to revolutionize the MOOC Industry.

Specifically, major tech firms including HG ventures led the funding round event with much domination. Moreover, adding more, other leadоing venture capitals and blockchain-related institutions including GBIC, Mindfulness Capital, IOST, M6, Adaptive, Icetea Labs, Alphabit, and Pragma supported the funding round event.

In line with this, the aforementioned listed companies are seriously working hand in hand to fund the Label Foundation NFT platform with a mindset of pushing the MOOC Industry adoption to the next level.

HG Ventures Co-founder Simon Jeung expressed what he knows about the matter,

As the lead investors in the LABEL Foundation, we are first and foremost fascinated by the dedication of the core team to the unified goal to revolutionize the entertainment-education market by bringing the MOOC industry and blockchain technology together.

Also, Jeung further added “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.”

Briefly, Label Foundation is an open-source and unparalleled NFT platform designed under the Ethereum Network. What is more, the Label NFT infrastructure on-chain activities are mainly powered by LBL utility and governance token. Apart from revolutionizing the MOOC Industry, Label further has a goal to provide a fair-sharing ecosystem by leveraging permissionless IP rights integration.

Through a DAO voting system, Label provides a decentralized peer-to-peer incubating platform that enables investors to invest in world-class entertainment-education content within the NFT world. In the same vein, doing this will enable anyone who contributes to claim groundbreaking profits via the NFT shareholding mechanism.

Expanding further, with much support, OPENTRACK operates as a core partner for the Label Foundation. Hence, as days move by, the Label will feature prominent and other top stars like Mark Lettieri (3x Grammy Winner) on its platform. The featured top stars will also include Scoop DeVille (2x Grammy Nominee), Robert Sput Searight (6x Grammy Winner), Docskim (BTS producer) introduced through the OPENTRACK.

Furthermore, when the time is due, many other influential artists and instructors would get the chance to share their knowledge and insight via the incubating system. Right after this, they can also register their courses mainly as non-fungible tokens (NFTs). Even more, only the LBL Holders will get access to the IP capitalization. This will then enable them to stake their tokens via the DAO governance mechanism to vote the type, of course, eligible for the LABEL’s ecosystem financing scheme.

In the same breath, all the courses that have been sent on the LABEL Platform will be registered in ERC-1155 NFT standard to give the share ratio of the ownership. Additionally, all the partners’ sales revenue information will be published on the NFT page on the LABEL platform.

Source: https://coinquora.com/label-foundation-raises-1-1m-in-private-sale-funding-round/