LABEL Foundation’s parent company, Clesson, receives $2 million in equity funding to lead the web 3.0 content industry

Clesson, the operating company of blockchain-based NFT and copyright-sharing platform LABEL Foundation, has raised $2 million in equity capital to further its Web3 mission. It was part of a strategic investment round from eBest Investments and Groom Investment. These two companies have invested in the leading MOOC and music NFT platform to push it to the forefront of the content industry in the Web3 era.

As Web3 has continued to grow and evolve, so have the platforms that exist in this space. With the funding, LABEL Foundation will be able to improve the platform and win over new intellectual property (IP) holders, as well as fund any development-related costs that arise over time.

LABEL Foundation, a South Korean NFT infrastructure, is managed by the founders of the music learning platform OPENTRACK. In doing so, they are revolutionizing the content industry by attracting world-class talent through their incubation system and well-known IPs to their platform. It operates a fair profit sharing system created through effective system integration.

OPENTRACK is a MOOC style music platform that allows students to learn at their own pace. OPENTRACK 2.0 was recently announced with enhanced interoperability with the LABEL dApp. The new version makes the transition of IP rights a simpler, smoother and more transparent process.

World-class artists have already started moving their IP rights to the OPENTRACK platform. Aaron Spears, who has worked with the likes of Lady Gaga and Lil Wayne, BTS producer Doskim, 11-time Grammy winner Philip Lassiter and others are moving to the brand new LABEL infrastructure.

Not only can students learn different instruments, but they can also interact with world-class musical talent to help them hone their skills. Classes are taught by real music experts in a number of specializations.

The LABEL Foundation core team is building the NFT infrastructure for content creators, musicians and fans, while the initial IPs are provided by its Ableton-certified sister company OPENTRACK.

LABEL Foundation promises a fair distribution system with profit sharing for artists and P2P investments, also eliminating the high barriers to entry into the music industry.

According to recent research by Citigroup, creators and artists receive only ⅙ of a song’s profits or 12% of total revenue. This unfairness is why LABEL Foundation has decided to use blockchain technology to create a fairer system where creators and artists don’t have to use middlemen to make their profits.

With LABEL, artists no longer have to worry about intermediary costs when receiving royalties. This would allow artists and content creators to exercise complete control over their art. The latest strategic partnership with Ankr highlights the progress the platform has made.

“Our team is ready to work for improvements in the music industry, by solving the biggest problems related to unfair profit sharing due to the bulk of the middlemen. Because we have tremendous expertise in the music and entertainment industry, we are aware of the obstacles talented people face in the traditional music industry.” – LABEL . Foundation

About Groom Investment

Groom Investments is an investment fund that makes all-round investments in the future companies and has a portfolio consisting of The SmartStudy, CrowdWorks (pre-IPO phase), Bespin Global (cumulative investment of KRW 209 billion) and Caroom.

About EBEST Investment & Securities Co., Ltd

EBEST Investment & Securities Co., Ltd is a company that provides financial services to its clients. Founded in 1999, the company is headquartered in South Korea and listed on KOSDAQ.

EBEST Investment & Securities Co., Ltd is engaged in the brokerage, trading and underwriting of securities business, in addition to hedging equities, options, futures, government bonds, corporate bonds, foreign securities and financial derivative products. EBEST Investment & Securities Co., Ltd also provides advisory services and is involved in proprietary trading activities.

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