LABEL Foundation Receives $1 Million In Investment From DWF Labs

Key Points:

• DWF Labs contributed $1 million to the LABEL Foundation.
• The funds will be utilized to grow the user base of LABEL Foundation’s dApp TRACKS and provide novel solutions to the market.
• LABEL Foundation has already secured two rounds of funding, driven by conventional investing companies eBest Investment & Securities and Groom Investments.

DWF Labs, the multi-stage Web 3.0 investment company, has made a significant investment in the P2P incubating platform LABEL Foundation, a Korean-based nonprofit devoted to changing the music industry via the power of blockchain technology.

The LABEL Foundation is a peer-to-peer incubation platform based on Ethereum and the BNB Chain. It delivers NFT infrastructures to E&M (Entertainment & Media) content providers, allowing them to monetize their IP rights.

DWF Labs is a subsidiary of Digital Wave Finance (DWF), one of the world’s largest cryptocurrency dealers that trades spot and derivatives on over 40 prominent exchanges.

The company, recently named a top crypto investor by Coindesk, has invested $1 million in LABEL’s ecosystem to support the development of their pioneering dApp TRACKS and to extend their user base via the introduction of unique solutions to the market.

As Coincu reported, DWF Labs previously invested $16 million in RACA, which included the purchase of certain RACA tokens. This funding will assist RACA in its pursuit of building a significant Web3 gaming ecosystem.

Andrei Grachev, Managing Partner of DWF Laboratories, stated:

“Their Listen-and-Earn TRACKS dApp is an exciting opportunity that has the potential to change the way music is created, shared, and monetized.”

Previously, LABEL Foundation raised two successful investment rounds led by traditional investment firms, eBest Investment & Securities and Groom Investments, allowing them to launch their innovative Listen-and-Earn TRACKS dApp, which recently completed a successful Closed-Beta-Test, with thousands of their users testing it.

The funds will be utilized to grow the user base of LABEL Foundation’s dApp TRACKS and provide novel solutions to the market.

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Harold

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