LABEL Foundation’s Parent Company Clesson Receives $2 Million in Equity Funding To Lead Web 3.0 Content Industry
15 Februar 2022 - 7:53AM
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Clesson, the operating company of blockchain-based NFT and
copyright fee-sharing platform LABEL Foundation, has raised $2
million in equity to further its Web3 mission. It was part of a
strategic investment round from eBest Investments and Groom
Investment. These two firms have poured money into the leading MOOC
and music NFT platform to push it to the forefront of the content
industry in the Web3 era. As Web3 has continued to grow and evolve,
so, too, do the platforms that exist in this space. With the
funding, LABEL Foundation will be able to enhance the platform and
bring over new intellectual property (IP) holders, as well as
finance all development-related expenses that arise with time.
LABEL Foundation, a South Korean NFT infrastructure, is operated by
the founders of the music learning platform, OPENTRACK. Through
this, they are revolutionizing the content industry by attracting
world-class talent through its incubation system and well-known IPs
to their platform. It operates a fair profit-sharing system created
through effective system integration. OPENTRACK is a MOOC-style
music platform that allows students to learn at their own pace.
OPENTRACK 2.0 was recently announced with improved interoperability
with the LABEL dApp. The new version makes the transition of IP
rights an easier, smoother, and more transparent process.
World-class artists have already begun moving their IP rights to
the OPENTRACK platform. Aaron Spears who has worked with the likes
of Lady Gaga and Lil Wayne, BTS producer Doskim, 11-time Grammy
winner Philip Lassiter, and others are moving on to the brand new
LABEL infrastructure. Not only can students learn various
instruments, but they are also able to interact with world-class
musical talent to help them hone their skills. Classes are taught
by real-world music experts across a number of specializations.
LABEL Foundation’s core team is building the NFT infrastructure for
content creators, musicians, and fans, while initial IPs are
supplied by Ableton certified parent sister company, OPENTRACK.
LABEL Foundation promises a fair profit-sharing distribution system
for artists and P2P investments, as well as eliminates the high
barriers for entry into the music industry. According to recent
research carried out by Citigroup, creators and artists only
receive ⅙ of profits from a song or 12% of total revenue. This
unfairness is the reason LABEL Foundation decided to utilize
blockchain technology to create a fairer system where creators and
artists do not have to go through middlemen to get their profit.
With LABEL, artists would no longer have to worry about
intermediary costs when receiving royalties. This would allow
artists and content creators to be able to exercise full control
over their art. Its latest strategic partnership with Ankr points
to the progress made by the platform. “Our team is willing to work
towards improvements in the music industry, by solving the biggest
issues related to unfair profit-sharing due to intermediaries
lion’s share. Since we have huge expertise in the music and
entertainment industry, we are aware of what kind of obstacles
talented people face in the traditional music industry.” – LABEL
Foundation About Groom Investment Groom Investments is an
investment fund that conducts all-round investments in the
prospective companies and holds a portfolio comprised of The
SmartStudy, CrowdWorks (Pre-IPO stage), Bespin Global (accumulated
investment of 209 billion KRW), and Caroom. About EBEST Investment
& Securities Co., Ltd EBEST Investment & Securities Co.,
Ltd is a company that provides financial related services to its
clients. Founded in 1999, the company is located in South Korea and
is listed on the KOSDAQ. EBEST Investment & Securities Co., Ltd
engages in the brokerage, dealing, and underwriting of securities
businesses, in addition to covering stocks, options, futures,
government bonds, corporate bonds, foreign securities, and
financial derivatives products. EBEST Investment & Securities
Co., Ltd also provides consulting services and is involved in the
proprietary trading business.
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