LABEL Whitepaper EN
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LABEL
Learn, Invest and Incubate in the NFT Entertainment 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 profit-sharing ecosystem with the permissionless integration of IP rights. LABEL provides a decentralized P2P incubating platform to invest in world-class entertainment-education content through the DAO voting system to further allow contributors to claim profits through the NFT shareholding mechanism.
The LABEL platform builds up an ecosystem that establishes a fair and decentralized incubating system, that purports to provide the content creators in the MOOC industry easier access to the investment, promotion and distribution of their IP rights, hence aims to improve an unfair profit structure that exists in the sphere, striving to prevent copyright infringement cases across the industry.
Background
The LABEL team focuses on incubating the prospective IP holders in the E&M (Entertainment & Media) sector, where technology and trends change rapidly. Establishing ourself in the E&M sector provides many advantages for entering the global market and the application of the blockchain technology allows us to provide the most vibrant ecosystem for the creators, investors and consumers. The core partner, that will be supplying the initial set of world-class IP holders from the E&M field is Clesson Co., Ltd., which happens to be the key partner of the LABEL team. Clesson is South Korea's leading music education company and has about 200 professional instructors working with them in Korea. It also operates OPENTRACK, a global MOOC service in the E&M sector in which artists and producers from various countries, including Germany, Canada, Japan, Korea, and Australia participate as partners. In addition, the LABEL team recruits talented copyright management personnel from famous distributors and entertainment production companies to work together.
Our Vision
The LABEL team gives users a degree of freedom over digital assets, such as content, so that anyone can easily create and utilize the content. As such, the LABEL team will gradually be decentralized for ecosystem scalability. Ultimately, the aim is complete decentralization as illustrated in the three steps listed below.
- 1st Phase: Based on OPENTRACK, which is worth USD 20 million according to its sales, users will be able to use LBL tokens to add subscription payment options for content. Initially, the LABEL team will consist of experts in the E&M field and companies who have signed MOUs with OPENTRACK.
- 2nd Phase: The gradual decentralization of the ecosystem to be initiated through the application of blockchain technology will be introduced in separate stages to OPENTRACK. LABEL will eventually release NFTs, a Marketplace, and an Incubating System. Famous artists will be able to digitize their creations on LABEL and easily receive investments from LBL token holders via P2P incubating system. This will provide a profitable environment for content producers who participate in the existing MOOC services. Furthermore, we are building infrastructure so that experts from various industries can participate in the E&M field. At this stage, the LABEL team will continue selecting incubating content until complete decentralization is achieved.
- 3rd Phase: Finally, the decentralized governance system DAO will be released. The DAO will allow LBL token holders to decide directly on incubating content. Ultimately, infrastructure will be established which will allow content from all fields (not just E&M) to be incubated. Fees incurred in the ecosystem will be accumulated in the DAO Funds. Eventually, the DAO will determine how to use the accumulated funds.
Last modified 6mo ago
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