Home - Press Release - LABEL Foundation Secures 7-Digit Investment From DWF Labs

James Carter

April 10, 2023

LABEL Foundation Secures 7-Digit Investment From DWF Labs

The most recent information is that DWF Labs, a multi-stage Web 3.0 investment firm, has provided LABEL Foundation with a significant investment in the round of venture funding. LABEL Foundation is an organization based in South Korea that is committed to utilizing the potential of blockchain technology to bring about a revolution in the music industry. DWF Labs, which was just recently recognized by Coindesk as one of the leading crypto investors, has contributed $1 million to LABEL’s ecosystem in order to encourage the development of their pioneering Dapp TRACKS and to extend their user base by delivering novel solutions to the market. This move was made in order to help LABEL expand its user base.

LABEL Foundation Secures 7-Digit Investment From DWF Labs

The LABEL Foundation has been able to launch its ground-breaking Listen-and-Earn TRACKS decentralized application (dApp) thanks to the completion of two successful investment rounds over the course of several years. These investment rounds were led by traditional investment firms such as eBest Investment & Securities and Groom Investments. Both investment rounds were successful and enabled the LABEL Foundation to launch its innovative application. LABEL is of the opinion that this ground-breaking application not only offers huge potential for musicians but also for music fans who wish to participate in the overall money flow of the music industry and assist in making this sector more profitable. LABEL is continuing its journey with the assistance of its strategic partner and investor, DWF Labs, who supports the company’s vision of a music industry that is more accessible and decentralized for everyone involved, whether they are artists or fans.

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DWF Labs Managing Partner Andrei Grachev expressed his enthusiasm for the LABEL Foundation’s mission to encourage innovation in the music industry by commenting, “Their Listen-and-Earn TRACKS dApp is an exciting opportunity that has the potential to change the way music is created, shared, and monetized.” Grachev’s comments were made in response to LABEL Foundation’s announcement that it will be promoting innovation in the music business. LABEL Foundation CSO Hyungsoon Choi also stated that for them, this investment is not just about expanding their user base or bringing innovative solutions to the market; rather, it is perhaps about getting closer to creating a more equitable profit-sharing economy that includes permissionless IP rights application, monetization of music rights, and direct interaction between fans and artists. These are all important aspects of the LABEL Foundation’s vision for the future of the organization.

The music business is still struggling with problems relating to revenue and distribution, but the LABEL Foundation is leading the charge towards a future in which music is more easily available and less centralized. Keep an eye out for upcoming announcements and developments regarding this ground-breaking organization.

About DWF Labs

DWF Labs is an investment company that works across all stages of the Web 3.0 industry. The investment company is a subsidiary of Digital Wave Finance (DWF), which has been able to keep its place among the top five trading entities in terms of volume in the cryptocurrency field thanks to the proprietary technology it has developed for high-frequency trading. DWF is also a parent company of the investment company. It even has offices in the British Virgin Islands, in addition to Singapore, Switzerland, the United Arab Emirates, Hong Kong, and South Korea.

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About LABEL Foundation

The LABEL Foundation is a platform that serves as a breeding ground for new solutions in the music industry. This platform can be regarded as a “breeding ground.” With the overarching goal of establishing a profit-sharing economy that is fair for all parties involved, this system will facilitate the permissionless application of intellectual property rights, the commercialization of music rights, and direct engagement between fans and musicians.