How the LABEL Foundation Will Take the MOOC Industry into The Future With The Ethereum Network After Raising $1.0 Million
26 October 2021 - 12:02AM
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Launched on the Ethereum network, the LABEL platform has one of the
most original governance and incentive mechanisms in the crypto
space. Set out to revolutionize the Massive Open Online Course
(MOOC) industry with a blockchain-based entertainment-education
platform, it has gathered support from major partners. Per an
announcement by the LABEL Foundation, the project has successfully
completed a $1.0 million private sale round led by HG Ventures with
participation from major institutions and leading venture capital
investors in the crypto industry. This includes GBIC, Mindfulness
Capital, IOST, M6, Adaptive, Icetea Labs, Alphabit, and Pragma. The
partners have come together with LABEL to create an innovative new
platform to support an NFT infrastructure entertainment-education
platform and take the MOOC industry by storm. As mentioned, LABEL
is an Ethereum-based worldwide content incubation platform that
seeks to create a fairer and transparent ecosystem for content
creators. Via this platform users can access top-tier educational
material and self-produced content with multiple features and
services. The platform has an NFT Market that allows users to trade
with LABEL-generated NFTs. In addition, the platform has a DAO
governance model supported by a native governance and utility token
named LBL. Implemented to drive the growth of the LABEL ecosystem,
LBL also operates as the main component in the voting and NFT
shareholding reward mechanism. The LABEL Platform And Its Unique
Rewards Model LABEL’s unique NFT infrastructure is backed by
CLESSON and OPENTRACK, one of the most relevant systematic music
education companies based in South Korea. The platform hosts over
200 instructors and 25 top artists from around the globe. This top
talent will be part of LABEL’s entertainment-education platform
backbone and will bring fresh air to the MOOC model by integrating
the artists’ real-life experience in the music industry with the
advantages of operating on a decentralized DAO governance model. 6
times Grammy Award winner Robert Sput Searight, 2 times Grammy
Award Nominee Scoop DeVille, 3 times Grammy Award winner Mark
Lettieri, the producer for one of the biggest music groups BTS
Docksim, and many others are some of the names that will
participate in the courses operated by the Clesson and further to
be brought to the LABEL Foundation. In some cases, the instructors
and artists will offer their IP rights on the LABEL platform
incubating system. This will enable early investors to receive
rewards in the form of NFT shares which can be traded on LABEL’s
marketplace or they can hold them for further rewards. The entire
system has been designed to protect content creators and their IP
rights by minting them as NFTs. In this way, the LABEL community
can choose which courses will receive support by using the DAO
governance model and the LBL-based voting system. The courses that
successfully attract LBL holders’ attention and receive enough
votes via staking will be registered on the platform using the
ERC-1155 Ethereum NFT standard. This will allow the platform to
maintain full transparency by showing the share ratio ownership of
voters and investors according to their NFT shares contributed. At
any point, investors can withdraw their NFT shares or they can
retain them to claim the partial profits generated by the courses.
Co-Founder at HG Ventures, a key LABEL Foundation partner, Simon
Jeung said the following on the project’s commitment and potential
to spearhead a new wave of adoption for cryptocurrencies and
blockchain technology: 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. 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.
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