Tortola, BVI, December 8, 2021 — LABEL Foundation has recently announced its readiness to deploy on Binance Smart Chain, utilizing the cross-chain bridge that they have developed in cooperation with Tokyo-based blockchain development company Curvegrid. The deployment of the bridge pinpoints the initiation of LABEL’s integration into the Binance Smart Chain’s ecosystem.
LABEL may be understood as a blockchain-oriented international education content platform that presents an incubation system that readily supports various promotion, distribution and investment processes in an attempt to eliminate obstacles and challenges pertaining to existing content production, as well as investment procedures.
Previous to this development, LABEL Foundation has expanded its ecosystem with key partnerships within the blockchain and education industry. It has already collaborated with OpenTrack, a leading music education platform operated by Clesson. This partnership will provide a batch of world-class instructors that will provide early content within the LABEL ecosystem. They further announced that they are committed to bringing world-class artists such as Scoop DeVille, Mark Lettieri, Docskim and many other Grammy-nominated artists to their platform to incubate and nonfungible token- (NFT)-ize their IP rights.
LABEL Foundation's primary objective is to hence provide its users with high-quality educational and entertaining resources. Apparently, with their migration to the Binance Smart Chain ecosystem, LABEL will be able to leverage all the best features of the mainnet to scale and increase the performance of its decentralized application (DApp).
An innovative platform
Through LABEL, an NFT framework has been constructed atop the Ethereum Network and Binance Smart Chain, and it is supported by the native token’s LBL utility and governance tokens with a single purpose of establishing a fair profit-sharing economy with permissionless IP rights incorporation. LABEL is, hence, a decentralized peer-to-peer (P2P) incubation platform that invests in high-quality entertainment and education material via the decentralized autonomous organization (DAO) voting system, allowing donors to collect profits via the NFT ownership mechanism.
Also, the LABEL platform creates an ecosystem that seeks to establish an unbiased and decentralized incubating system with the goal of providing content creators in the MOOC industry with improved accessibility. Therefore, it strives to enhance a seemingly unfair profit structure that is often prevalent in the sector and to also prevent copyright infringement instances from occurring throughout the industry.
Bridge with BSC
As per the latest developments, LABEL is now officially bridged to Binance Smart Chain and the token shall be deployed via the MultiBaas Middleware built by Curvegrid. The bridge shall link Ethereum mainnet with Binance Smart Chain, allowing for the smooth movement of LBL tokens from ERC-20 to BEP-20 and vice versa.
Additionally, Solanium shall be joining LABEL as a strategic adviser, assisting in the expansion of the LABEL ecosystem. In the Solana ecosystem, Solanium is a platform based in Amsterdam and primarily used for governance voting, decentralized fundraising and time weight token staking. Furthermore, LABEL’s initial DEX offering (IDO) is also anticipated to take place on RedKite and NFTb to conduct a public sale.
As per its white paper, LABEL aims to offer an unrivaled sales framework and infrastructure situated on the usage of blockchain technology via the aforementioned incubating system. Through this, experts, professionals and specialists alike can be found and invested in. Moreover, through effective system integration, LABEL will also create a fair profit-sharing environment for the purposes of intellectual property rights. Lastly, with the establishment of its NFT Market, LABEL will launch a virtuous loop that will initiate the global value chain by making the IP rights embedded in NFTs, while being readily transactable. To that end, it is also partnering up with various organizations from the entertainment and media industry to focus on the cultivation of its respective incubating system.
CEO name: Hyungsoon Choi