LABEL Foundation (LABEL) Token Listed on South Korea’s Coinone Crypto Exchange
LABEL Foundation (LABEL) has announced that its native cryptocurrency, LABEL has now been listed for trading on Coinone, one of South Korea’s big four cryptocurrency exchanges. The listing represents a significant milestone for the LABEL Foundation project, considering South Korea’s strict, albeit harsh crypto regulatory landscape.
LABEL Token Now Live on Coinone
Coinone, South Korea’s top-four bitcoin trading venue, and exchange has now listed LABEL Foundation’s LABEL token for trading.
Founded by Kevin Cha, one of Korea’s most celebrated and global awards-winning ethical hackers, Coinone is currently the third-largest crypto exchange in South Korea, with a 24-hour trading volume of $145.84 million.
At Coinone, the protection of clients’ funds is a top priority and the team is dedicated to providing its customers with the most secure investing and crypto trading environment.
For those who are unaware, Coinone exchange was the first crypto exchange in South Korea to list Ethereum and IOTA and it’s also the first trading venue to establish a research center, dedicated to publishing in-depth cryptocurrency analysis reports to provide transparency and stability for the market.
Unlike its Asian neighbors, China, which has since outlawed all crypto-related activities within its shores, South Korean regulators have formulated strict, albeit harsh regulatory guidelines for cryptocurrency exchanges and market participants to follow.
Over the years, there has been a mass exodus of crypto exchanges from South Korea, as many of them have found it impossible to get certified by the Korea Internet and Security Agency (FISA), not to mention even getting approval from the Financial Services Commission (FSC).
LABEL Foundation’s LABEL token listing on Coinone, which comes at the heel of the project’s $2 million fundraiser from South Korea’s eBest Investment & Securities Co.Ltd, and Groom Investment, represents a significant milestone for the project and is a strong indication of the high level of confidence the leading exchange has in LABEL Foundation.
LABEL Foundation Making Life Easier for Content Creators
LABEL Foundation (LBL) is an entertainment-education platform that uses distributed ledger technology (DLT) and non-fungible tokens (NFTs), to eliminate middlemen in the entertainment ecosystem and offer users fair profit sharing and distribution system.
It’s no news that musicians, entertainers, and content creators across various jurisdictions around the globe still do not get enough royalties for their hard work, partly due to the presence of too many intermediaries in the creative industry, as well as a plethora of other factors
In recent years, artists and top players in the entertainment industry have made legal efforts to force those at the top of the hierarchy to pay more royalties for their works. However, the longstanding issue of lack of adequate compensation for creatives remains a pain in the neck of entertainers.
According to Citigroup’s research on music profit distribution, artists receive only a meager fraction of profits made from their songs by music companies or 12 percent of the total revenue. This worrying disclosure has spurred the LABEL Foundation to tap the revolutionary blockchain technology to bring transparency and P2P use cases into the creative ecosystem, to eliminate intermediaries.
LABEL Foundation is dedicated to pioneering change in the MOOC and music industry by utilizing distributed ledger technology (DLT). The LABEL Foundation core team focuses on building a robust and highly efficient non-fungible tokens infrastructure for content creators, musicians, and fans, while its sister company, OPENTRACK, an Ableton certified firm, takes care of the IP part of the project.
LABEL Foundation has been illustrating high-level traction and progress with their OPENTRACK content platform releasing its second version and the team has also inked solid partnership deals with a good number of industry leaders.
What’s more, their further decentralization development with the release of their NFT infrastructure and marketplace will undoubtedly trigger the influx of secured IP rights that will be NFTized and offered to users through the incubation platform.
So far, the LABEL Foundation ecosystem has attracted a vast array of heavy hitters in the entertainment industry, including three-time Grammy award winner, Mark Lettieri, six-time Grammy winner, Robert Sput Searight, and a host of others.
