LABEL presents examples of the various ways NFTs can be used and how to increase their effectiveness within its ecosystem. LABEL develops NFT infrastructure to solve chronic problems in the MOOC industry and to take the lead on market reform, by allowing the original IP holders to monetize their creations without the burden of the intermediations. The connection to blockchain technology makes it easier for users to use NFT standards to monetize their creations on multiple blockchains and have absolute freedom over their assets.

LABEL presents the following NFT use cases:

ITEMs (ERC-721)

In the LABEL ecosystem, ITEMs are diverse but rare ERC-721-based digital assets. They may be limited edition albums of artists (creators) or other unique digital assets.

ITEMs can be minted as NFTs and traded in the Marketplace. Fans can own rare ITEMs from their favorite artists. “Sessions” can also be classified as NFTs and sold at the Marketplace.

Artists can register their content creation process in the incubating system and receive NFT equity investment from LBL token holders. At this time, the IP is registered as an ERC-1155 and allocated to each investor according to their level of contribution. The actual copyright belongs to the creator. The invested ERC-1155-based NFT can be considered an equity-type investment for profit distribution.

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