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Label intends to establish an ecosystem that ensures promotion, advertisement, and transparent revenue distribution to content creators.
The cryptocurrency space is an ever-evolving industry with new projects and platforms offering novel innovations. This can be overwhelming for newbies looking to invest in the right project that has real-life applications.
Despite this, some low-valued gems exist within the market, and Label Foundation falls into this category. Let’s explore this platform and why it can become a good choice for investors.
Built for the MOOC Industry
Label Foundation is a blockchain platform that is built on innovative ideas. Unlike other crypto projects that propose unrealistic claims, Label focuses on resolving the problems in the MOOC industry.
The industry lags in blockchain adoption and has faced problems in revenue distribution and transparency. Label intends to establish an ecosystem that ensures promotion, advertisement, and transparent revenue distribution to content creators.
To achieve this, Label has developed a unique incubation system that covers different aspects from content creation, investment and revenue distribution. For example, a course creator can design a course and list it on Label for funding.
Once the course is verified, a voting process begins where LBL holders stake their tokens to decide whether the course should be funded.
In the advent of sufficient votes, the course receives funding, and an NFT is released that contains the list of shareholders entitled to future rewards from the course. This includes users that participated in the voting process and the content creator.
The educational course is distributed among Label partners, and revenue generated is paid directly to shareholders wallets. This decentralized system ensures that course creators and investors are compensated fairly and transparently.
Label also hosts an in-built NFT market that allows users to trade NFTs minted within the incubating system. NFT holders can trade their shares for cryptocurrencies in the NFT market. Investors who do not participate in the incubating process can become shareholders by purchasing NFT shares and sharing profits from courses’ sales.
Backed by Top Investors in the Blockchain Industry
One of the ways to know a sustainable blockchain project is whether they have received backing from top Venture Capitalists. Label Foundation ticks this box and recently received $1.0 million from a private sale led by HG Ventures.
The private sale attracted other top VCs, including GBIC, Mindfulness Capital, IOST, M6, Adaptive, and Icetea Labs, Alphabit, and Pragma. This funding from top VCs shows that Label is poised to lead the MOOC industry’s next-generation blockchain movement.
Apart from funding, Label Foundation has collaborated with key platforms within the blockchain and education sector. It has already collaborated with OPENTRACK, a music education platform run by Clesson. The partnership will result in OPENTRACK providing top-class instructors to create content on Label. The LABEL will be able to attract the content offered by the top entertainers like Mark Lettieri (3x Grammy Winner), Scoop DeVille (2x Grammy Nominee), Robert Sput Searight (6x Grammy Winner) and Docskim (BTS producer)
Label recently listed LBL token on CoinMarketCap, and users can get LBL asset-related data directly from the price aggregator. This is a major one since CMC is the largest cryptocurrency data aggregator, and this signals a step in the right direction for the Label Foundation.