The world of cryptocurrencies often moves incredibly fast, which means that it can usually be quite difficult to know which projects are being deployed on different protocols and also which investments would be considered viable. However, one project in particular has managed to attract considerable attention, namely the LABEL Foundation.
LABEL is an education content platform that is based on blockchain technology. It provides an incubation system which efficiently supports processes pertaining to promotion, distribution, and investments, and the system has thus been introduced with the goal of getting rid of the hindrances associated with existing investment processes and content production.
Perhaps the most important goal of the LABEL Foundation is to provide its customers with the best content in the world regarding both education and entertainment. With that in mind, by migrating to the BSC ecosystem, LABEL shall potentially be able to make use of many great features pertaining to the mainnet in order to expand and improve the performance of their decentralised application.
Furthermore, it is no secret that the world is becoming increasingly digitised, and that global events such as the ongoing pandemic have exacerbated this desire and need to connect with one another via different technologies. The popularity of the NFT sector is proof of this, as not only do countless people worldwide want to make viable investments nowadays, they also want to have a sense of community and belonging.
With LABEL, an NFT infrastructure has been built using the Ethereum Network as well as BSC. Moreover, as it is backed by the LBL governance and utility tokens, LABEL has a real chance of reaching its goal of developing a fair profit-sharing economy that also includes permissionless IP rights. Its users are also given the aforementioned sense of community and belonging through LABEL’s DAO voting system, which has thus enabled the contributors to greatly benefit through the NFT ownership system.
Furthermore, the LABEL platform establishes an ecosystem that tries to construct an unbiased and decentralized incubation system, with the purpose of improving accessibility for content providers in the MOOC market. As a result, it aims to improve an apparently unjust business structure that is common in the industry. It additionally wants to stop cases regarding copyright infringement from occurring as well.
Deployment on BSC
LABEL has now been formally connected to Binance Smart Chain, and the token will be launched via Curvegrid’s MultiBaas Middleware. The bridge will connect Ethereum Mainnet to Binance Smart Chain, allowing LBL tokens to travel seamlessly from BEP-20 to ERC-20 and vice versa. Once it is fully successful, the integration will provide some much needed utility and accessibility to LABEL as countless protocols and projects across the globe readily utilize BSC on a daily basis, and Binance is in fact the world’s biggest cryptocurrency exchange to date.
In addition, Solanium will join LABEL as a strategic investor, supporting it in the growth of LABEL’s ecosystem. Solanium is a platform that is mainly utilized for time weight token staking, governance voting, and decentralized fundraising in the Solana (SOL) ecosystem. At the moment, Solana is still in the top five cryptocurrencies worldwide by market capitalization, and SOL has experienced explosive growth in this year alone. Secondly, LABEL’s IDO is expected to take place on RedKite and NFTb in order to execute a public sale.
Ultimately, plenty of work is yet to be done for LABEL, but if its past accomplishments like establishing a partnership with OPENTRACK as well as various other collaborations with notable entities in the education and blockchain industry are anything to go by, then the future does indeed seem to be bright for the project.
The post LABEL Foundation: Incubation-Oriented Blockchain Platform Deploys on Binance Smart Chain appeared first on Blockonomi.