As per the latest news, LABEL Foundation, a Korean-based organization dedicated to revolutionizing the music industry through the power of blockchain technology, has secured a major investment in the venture round funding from DWF Labs, the multi-stage Web 3.0 investment firm.
DWF Labs, that has recently been labeled as a top crypto investor by Coindesk, has injected $1 million in LABEL’s ecosystem to foster the development of their pioneering Dapp TRACKS and to expand their user base by bringing innovative solutions to the market.
Over the years, LABEL Foundation has raised two successful investment rounds, that has been led by traditional investment firms, eBest Investment & Securities and Groom Investments, that has enabled them to launch their innovative Listen-and-Earn TRACKS dApp, which has recently seen a successful Closed-Beta-Test completion, tested by thousands of their users.
LABEL believes that this revolutionary application has enormous prospects not just for artists but also listeners who want to contribute to the revenue flow of music and help make this sector more profitable. Now, that there is DWF Labs on their board, LABEL continues the journey with the help of their strategic partner and investor, who shares the former’s vision of a more accessible and decentralized music industry for everyone, whether it be artists or fans.