PRESS. Clesson, the operating company of the LABEL Foundationreceived an additional $ 2 million in share funding eBest Investments and Securities and Groom Investments to promote the Network 3.0 NFT infrastructure for musicians, fans and content producers and accelerate the revolution in the industry.
eBest Investments and Securities, a leading South Korean asset management firm, and Groom Investments, an initial investment fund, have transferred the said amount of equity financing to Clesson Co., Ltd, the roofing company of LABEL Foundation as part of a new partnership. The newly raised funds, according to the LABEL team, will accelerate the construction of the MOOC and music NFT infrastructure and attract smarter IP owners into the platform.
Solving the Problem of Managers and Managers
Earlier, the LABEL core team announced the release of OPENTRACK 2.0, which includes better compatibility with the LABEL dApp. The newly released version simplifies the transfer of intellectual property rights by making it clearer, smoother and more usable. IPs from well-known artists such as Docskim (BTS producer), Aaron Spears (former collaborator with Lady Gaga and Lil Wayne), Philip Lassiter (11x Grammy winner), and many more are looking to move to the recent new LABEL Foundation’s NFT. infrastructure.
LABEL Foundation has initiated the use of blockchain technology to transform the MOOC and music industries. The core team is building the NFT infrastructure for content producers, musicians and fans, while the initial IPs are provided by Ableton-certified parent sister company OPENTRACK. Once completed, the LABEL Foundation promises to deliver a fair profit sharing for artists, P2P investments, and the removal of high barriers to entry into the music business. The most recent announcements of strategic alliances with Ankr prove the continued success of the company.
The LABEL Foundation team wants to contribute to the advancement of the music business by addressing the most pressing concerns related to unfair profit sharing on the part of most managers. The team is aware of the challenges that talented artists face in the traditional music industry as they have extensive experience in the music and entertainment industries.
In fact, that of Citigroup an analysis of music profit distribution found that composers and musicians received only 16% of song profit, or 12% of total revenue. This revelation of the injustice prompted the blockchain enthusiast LABEL Foundation to use distributed ledger technologies for transparency and P2P use cases where no intermediaries can benefit from musicians.
About eBEST and Groom Investments
EBest Investment & Securities Co., Ltd. is regarded as one of the leading asset management organizations in South Korea that offers online securities services. It currently has approximately $ 1 billion in AUM and operates through research, investment banking and retail. The International Trade segment provides cash equity, exchange-listed derivatives, cash bonds, and access to the international stock market.
In addition, the Research Department conducts research on the stock market and investment strategies. Corporate finance, debt capital markets, structured finance and project finance are all services offered by the Investment Banking division. The Retail Sales division provides online and offline brokerage services as well as investor information and services. The company was established on December 15, 1999, and is headquartered in Seoul, South Korea.
Groom Investments is another investment fund that makes comprehensive investments in future ventures and has portfolios that include The SmartStudy, CrowdWorks (pre-IPO stage), Bespin Global (a cumulative investment of KRW 209 billion), and Caroom.
LABEL is a blockchain-oriented NFT platform that incubates music and entertainment by providing users with a variety of simple investment tools, fair revenue sharing, and reliable marketing methods. Basically, it is an unrivaled NFT infrastructure that was built on the Ethereum Network and is powered by the LBL governance and utility, with the overall goal of establishing a fair profit-sharing economy with unauthorized enforcement of IP rights.
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