LABEL Foundation 2.0
An innovative and unprecedented Web 3 music platform
LABEL 2.0 is a blockchain-based service that proposes a Web 3.0 music platform for more extended user engagement and ecosystem activation. To this end, BEYOND LISTENING BEHAVIOR ($BLB) has been issued as a utility token. LABEL has developed the world's first platform that includes a Listen-And-Earn mechanism, TRACKS, for the Web 3.0 music platform ecosystem. It provides an innovative Music-Fi ecosystem that rewards tokens to users according to their music playback time. Users will contribute to revitalizing the Web 3.0 music platform ecosystem by giving tokens rewarded while listening to music to musicians or spending them within the LABEL platform. In addition, the Web 3.0 music platform will be expanded so that users can contribute to the ecosystem and receive rewards for various roles such as music distribution, IP investment, and musician incubation. LABEL 2.0 extends NFT Marketplace capabilities for musicians. Expanding support for musicians' assets, creations, educational content, and IP sales through blockchain-based technology, will maximize the value of the musicians' participation and increase the spending of users in the ecosystem. In LABEL 2.0, the incubating function for musicians has also been improved. LABEL will encourage a virtuous cycle in the LABEL Web 3.0 music platform ecosystem by providing an incubation program for users of OPENTRACK, which is provided as a DApp, supporting TRACKS music registration, and onboarding to the NFT Marketplace. LABEL 2.0's goal is to develop into a true Web 3.0 music platform that ultimately enables users to own and operate a decentralized ecosystem through a blockchain-based governance system where participation in the ecosystem and each role in said ecosystem can be rewarded.