- LABEL Foundation will officially deploy on BSC.
- Worked with Curvegrid to create a cross-chain bridge.
- LABEL has announced its IDO on RedKite and NFTb.
LABEL Foundation, the next-generation NFT infrastructure, has announced its deployment on the Binance Smart Chain (BSC). The launch will utilize the cross-chain bridge that they have developed together with Curvegrid. This disclosure has followed with their public sale announcement that is going to be conducted via IDO on NFTb and Redkite on 17th December.
The token will be deployed through the MultiBaas Middleware and the bridge will link BSC with Ethereum Mainnet. This connection will allow the seamless movement of LBL tokens from ERC-20 to BEP-20 and vice versa. Through LABEL, an NFT framework has been created on the BSC and Ethereum Network supported by governance tokens and the LBL utility. This move intends to establish a fair profit-sharing economy with a permission-less IP rights incorporation.
Therefore, LABEL is deemed to be a decentralized P2P incubation platform that focuses on and makes investments in high-quality entertaining and educational resources through the DAO voting system, letting donors collect their profits via the NFT ownership mechanism. In detail, according to its website,
LABEL is a blockchain-based, NFT, copyright fee-sharing platform that introduces an incubation system that supports investment, distribution, and promotion processes to break down high barriers to existing content production and investment and dismantles the current unfair profit distribution structure.
Moreover, with LABEL’s migration to the BSC ecosystem, it will be able to utilize all the best features of the mainnet to improve and scale the performance of their decentralized application. Aside from that, it will also enable massive computation and enable advanced smart contract capabilities for the platform. Through this, users can take advantage of the network’s low fees and high throughput efficiency.
In the past, LABEL has already made significant partnerships with the education and blockchain industry. One notable collaboration was with OPENTRACK, a music education platform that is operated by Clesson. With this partnership, they aim to provide an exceptional batch of top-notch instructors that will contribute early content within the LABEL ecosystem.
Furthermore, Solanium will also join LABEL as a strategic investor who will aid in the expansion of the LABEL ecosystem. It is a platform on the Solana ecosystem, based in Amsterdam, that is used for decentralized fundraising, governance voting, and time-weight token staking.