press release
PRESS RELEASE. As per the latest news, LABEL Foundation, a Korean-based organization dedicated to revolutionizing the music industry through the power of blockchain technology, has secured a major investment in the venture round funding from DWF Labs, the multi-stage Web 3.0 investment firm. DWF Labs, that has recently been labeled as a top crypto investor by Coindesk, has injected $1 million in LABEL’s ecosystem to foster the development of their pioneering Dapp TRACKS and to expand their user base by bringing innovative solutions to the market.
Over the years, LABEL Foundation has raised two successful investment rounds, that has been led by traditional investment firms, eBest Investment & Securities and Groom Investments, that has enabled them to launch their innovative Listen-and-Earn TRACKS dApp, which has recently seen a successful Closed-Beta-Test completion, tested by thousands of their users. LABEL believes that this revolutionary application has enormous prospects not just for artists but also listeners who want to contribute to the revenue flow of music and help make this sector more profitable. Now, that there is DWF Labs on their board, LABEL continues the journey with the help of their strategic partner and investor, who shares the former’s vision of a more accessible and decentralized music industry for everyone, whether it be artists or fans.
DWF Labs Managing Partner Andrei Grachev conveyed his enthusiasm for 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 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 the market, it’s perhaps about getting closer to creating a more equitable profit-sharing economy that includes permissionless IP rights application, monetization of music rights, and direct interaction between fans and artists.
As the music industry continues to grapple with issues related to revenue and distribution, LABEL Foundation is leading the charge towards a more accessible and decentralized future for music. Stay tuned for further updates and developments from this groundbreaking organization.
About DWF Labs
DWF Labs is the multi-stage Web 3.0 investment firm.The investment firm is an affiliate of Digital Wave…
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