Label Foundation Successfully Raised $1.0 Million to Build a Blockchain-based Ecosystem for MOOC Industry and Revolutionize it.

Published in
3 min readOct 25, 2021

We are thrilled to announce that LABEL Foundation has successfully raised $1.0 million in its private sale round. The round was led by the HG ventures and backed by some of the leading venture capitals and institutions in the blockchain sphere, such as GBIC, Mindfulness Capital, IOST, M6, Adaptive, and Icetea Labs, Alphabit, and Pragma. The above venture capitals have joined forces to fund the next generation NFT infrastructure entertainment-education platform to bring the adoption to the MOOC industry.

LABEL — the next generation blockchain-based entertainment-education platform

LABEL is an unparalleled NFT infrastructure built on top of Ethereum Network, powered by LBL utility and governance token with a unified goal to establish a fair ecosystem with the permissionless integration of IP rights. LABEL provides a decentralized P2P incubating platform to support world-class entertainment-education content through the DAO voting system, further enabling contributors to participate in the NFT shareholding mechanism.

Our team builds an ecosystem that establishes a fair and decentralized incubating system, aiming to provide content creators in the MOOC industry easier access to the promotion and distribution of their IP rights, hence striving to improve the existing structure in the sphere and prevent copyright infringement cases across the industry.

The core partner that backs the LABEL Foundation is the OPENTRACK — a leading music education platform operated by the Clesson, that is set to bring the batch of world-class instructors for the early content supply in the LABEL Platform. Our platform will feature the top stars such as Mark Lettieri (3x Grammy Winner), Scoop DeVille (2x Grammy Nominee), Robert Sput Searight (6x Grammy Winner), Docskim (BTS producer), and many other influential artists and instructors, that will be sharing their knowledge and insights and perhaps offer their IP rights through the incubating system to register their courses as NFTs and further allocate the NFT shares to the early investors.

The innovative access to support for content creators and contributors presented in the P2P incubating system of the LABEL Foundation is an essential pillar that is bound to bring the next level adoption to the NFTs, by enabling diverse content creators to NFTize their IP rights and allow contributors to support the prospective courses, that can become the most impactful ones in the LABEL’s platform. The capitalization on these IP rights can be accessed by the LBL Holders that will stake their tokens in the DAO governance mechanism in order to be able to vote on which course will get to register and get the financing in the LABEL’s ecosystem.

The courses, that have successfully received support, will be registered in the ERC-1155 NFT standard, which will clearly illustrate the share ratio of the ownership according to the contributions of instructors, voters, and contributors. The information on sales revenue from our partner platforms will be released on the special NFT Page, and the revenue generated by the course will be distributed based on the NFT Shares held by the contributors. Furthermore, the investors that are willing to liquidate their NFT shares will be able to register them freely in the NFT Marketplace of the LABEL Foundation, or similarly they can retain their access to the IP rights.

As the lead investors in the LABEL Foundation, we are first and foremost fascinated by the dedication of the core team to the unified goal to revolutionize the entertainment-education market by bringing the MOOC industry and blockchain technology together. We believe that NFTs will definitely need the next level of adoption, and the musicians, artists and other content creators that were previously restrained from their legitimate profits will now be able to protect their rightful IP rights in the most innovative NFT infrastructure platform.Simon Jeung (Co-Founder at HG Ventures)

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LABEL AI provides an environment for creating and managing sounds such as music and voice through AI and blockchain