Press release
PRESS RELEASE. According to the latest news, LABEL Foundation, a Korea-based organization dedicated to revolutionizing the music industry through the power of blockchain technology, has secured a major investment in venture round funding from DWF Labs, the company multi-stage Web 3.0 investment process. DWF Labs, which has recently been tagged as a top crypto investor by Coindeskhas injected $1 million into the LABEL ecosystem to foster the development of its pioneering Dapp TRACKS and expand its user base by bringing innovative solutions to market.
Over the years, the LABEL Foundation has raised two successful investment rounds, led by traditional investment firms, eBest Investment & Securities and Groom Investments, which has allowed them to launch their innovative Listen-and-Earn TRACKS dApp, which recently saw a successful closed beta test, tested by thousands of its users. LABEL believes that this revolutionary app has tremendous prospects not only for artists but also for listeners who want to add to the music revenue stream and help make this industry more profitable. Now that DWF Labs is on its board, LABEL continues the journey with the help of its strategic partner and investor, who shares the former’s vision of a more accessible and decentralized music industry for everyone, whether artists or fans.
DWF Labs Managing Partner Andrei Grachev expressed his enthusiasm for the LABEL Foundation’s quest to promote innovation in the music business, stating, “Their Listen-and-Earn TRACKS dApp is an exciting opportunity that has the potential to change the way music is created, shared and shared. monetized”. LABEL Foundation CSO Hyungsoon Choi also stated that, for them, this investment is not just about expanding their user base or bringing innovative solutions to market, but perhaps getting closer to creating a more equitable profit-sharing economy. that includes the application of intellectual property rights without permission. , monetization of music rights and direct interaction between fans and artists.
As the music industry continues to grapple with revenue and distribution issues, the LABEL Foundation is leading the charge towards a more accessible and decentralized future for music. Stay tuned for more updates and developments from this innovative organization.
About DWF Labs
DWF Labs is the multi-stage Web 3.0 investment firm. The investment firm is an affiliate of Digital Wave Finance (DWF) which has consistently maintained its position among the top 5 volume trading entities in the crypto space thanks to its proprietary technology for high frequency trading. It has offices in Singapore, Switzerland, the United Arab Emirates, Hong Kong, South Korea, and even the British Virgin Islands.
About the LABEL Foundation
LABEL Foundation can be described as a platform that acts as a breeding ground for new solutions in the music industry. With the overall goal of creating an equitable profit-sharing economy that includes permissionless enforcement of intellectual property rights, monetization of music rights, and direct fan-to-artist interaction.
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