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LABEL Foundation Wants to Revolutionize the Entertainment Industry in the Era of Web3.0

press release

PRESS RELEASE. As the first month of 2022 draws to a close, many would agree that NFTs became a brand new way of ownership of an asset on the internet space. As groundbreaking a year for NFTs as 2021 was however, it does beg the question as to what the future of this sector will be like, specifically regarding the music & entertainment sector.

The year 2022 is promising us to be the year of the content creators/artists/musicians, with control over the masterpieces never going to middlemen without the original creators’ permission. Artists were able to make money from their digital artworks thanks to Non-Fungible tokens. And by selling those NFTs on specialized markets like OpenSea and Rarible and receive 100% of the fair profit vs 14% in the traditional music industry.

How is the LABEL Foundation pioneering in the NFT sector?

Using all the benefits of the Web 3.0 and blockchain technology, the South-Korean NFT infrastructure known as the LABEL Foundation, operated by the founders of the OPENTRACK platform, is paving the way for a content industry revolution by bringing the most well-known IPs to their respective NFT platform. The Label Foundation allows direct P2P investments in order to fund potential musicians in a decentralized, permissionless state.

LABEL, a NFT-based platform that incubates entertainment and music, provides easy investment tools, fair revenue distribution and promotion processes.

According to their whitepaper, LABEL Foundation aims to break down the huge barriers that have been built across the entertainment sector. Artists are often burdened with intermediation costs and receive only 1/6th of total revenue. LABEL could be seen as a rescuer, disrupting the industry standards by removing intermediation requirements and returning control to artists and musicians.

It should additionally be mentioned that the LABEL Foundation had already announced a successful financing round in which they raised $1 million (USD) and received additional funding from Solanium Ventures. LABEL also signed a formal agreement with Ankr to use Curvegrid’s MultiBaas middleware and their nodes to support their infrastructure. This reaffirms their overall vision and commitment of providing multichain NFT technology for their platform.

Lastly, despite the current market conditions, the LABEL Foundation seems to be moving in the right direction. They continue to make key agreements, obtain capital for company growth and transfer prominent IPs to the platform.

The recent upgrade of the Ableton certified OPENTRACK 2.0 version, which is the LABEL’s direct provider of the IP promises that the music sector is going to integrate with NFTs in the long-term perspective. Overall, the future looks bright for NFTs and LABEL.


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VAST Completes Private Investor Round and Prepares to Launch First-Ever EngagementFi(tm), NFT Platform

press release

PRESS RELEASE. Miami, FL – VAST, the multimedia NFT marketplace that dropped the first-ever NFT sitcom featuring Snoop Dogg and The Harlem Globetrotters, has announced the completion of their strategic private investment round with leading blockchain venture capital firms: GHAF Capital, NGC Ventures, Skyman Ventures, Infinity Ventures Crypto, and Spartan Protocol.

The VAST backers consist of visionaries who are leaders in the blockchain space and whose portfolios make up much of the backbone for blockchain infrastructure. Huobi Ventures and Polygon Studios are the initial seed investors. Michael Jurkovac (VAST CEO and co-founder) says, “We are so grateful to our investors that support the future of VAST.” We are able to offer amazing experiences and opportunities for creators with their support

“As the metaverse phenomenon grows, the potential for VAST – and the celebrity metaverse it is creating, is huge,” Sandeep Nailwal, Co-Founder and COO of Polygon says.

The exciting news about the private round comes on top of VAST’s decentralized blockchain Polygon securing a credit-card integration to their platform. This is the first time for any platform on Polygon. This integration allows VAST users to easily buy MATIC, Polygon’s digital currency, with their credit card. They can also purchase NFTs using this integration.

VAST will now be able to finalize their next product, VAST EngageFi(tm), which is the first decentralized “Engage to earn” NFT platform. Creators will be able to drop NFTs and deliver value directly to their fans by using VAST EngageFi(tm). In the coming weeks, more details about VAST EngageFi(tm), will be revealed.

“VAST was one of my most exciting investments in the last three years,” states Hubertus Thunhauser, partner at GHAF Capital ,. “I can’t WAIT to see this platform, who cares so deeply about creating a better economic environment for artists, create a new rewards-ecosystem that includes creators, collectors, and media .”

ABOUT VASTx

VAST, the first premium multimedia platform to sell and buy rare NFTs, is now available. VAST was developed to help Creators, Influencers, and Brands build deeper engagement with their social network by launching NFT-Enhanced Content through online channels they own and control. VAST has generated more than 5 billion audited media impressions to date for content on its platform. This includes media from top sites such as ESPN, Vogue and Vanity Fair, GQ. Architectural Digest, Harper’s Bazaar, and GQ.

For more information about VAST, follow the project on Twitter and Instagram.


This is a press release. This is a press release. Readers are responsible for their own research before making any decisions about the promoted company, or any of its affiliates. Bitcoin.com does not assume any responsibility for any loss or damage caused by the content, goods, or services mentioned in this press release.

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Singapore High Court Injunction Blocks Sale or Transfer of BAYC #2162 NFT

The Singapore High Court has granted a court injunction which stops or blocks the sale of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) that one man claims was wrongfully taken away from him.

NFT Used as Collateral

A Singapore man has won a court injunction that blocks the sale or potential transfer of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) that he claims to be rightfully his. According to a report, the NFT is currently in the possession of an online lender named Chefpierre.

The man, who has been identified by the Strait Times (ST) as Janesh Rajkumar, is seeking to recover the BAYC 2162 NFT which he pledged as his security for a loan obtained from Chefpierre. Rajkumar claimed the NFT was wrongfully taken from him.

The Bored Ape Yacht Club NFTs are popular with celebrities, some of whom have paid large sums of money to acquire them. The ST report notes Madonna is the latest celebrity to become the owner of a BAYC non-fungible token, after she reportedly paid 180 ETH.

BAYC’s Rare Attributes

Detailing the NFT’s uniqueness, Rajkumar argued the collection is rare even among BAYC NFTs because it has attributes that enable the holder to create another exclusive series. Leveraging the NFT’s rarity and high value, Rajkumar was able to use the BAYC as collateral when borrowing.

In his arguments before the Singapore High Court, Rajkumar insisted his loan agreement with Chiefpierre stipulated he was not relinquishing ownership of the NFT. In the event he failed to pay back on time, Rajkumar would inform the lender who then had to provide a reasonable extension of the repayment period.

The agreement also specified that the lender could not exercise the foreclose option, Rajkumar argued.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons, mundissima

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Dvision Network Announces New Land Staking Feature to Bolster Virtual Plot Utility

press release

PRESS RELEASE. The Dvision Network has recently announced the new ‘LAND Staking Feature‘ in their Dvision Metaverse, with the development being finalized to present a new use case to the virtual plot owners. Officially, Dvision LAND NFT users can now stake their plot and receive DVG points or additional NFT items through the new LAND staking program. This is a crucial component of the entire project and its ecosystem as Dvision currently has about 10,000 LAND owners, as a result of 3 finalized rounds of the LAND Sales, eager to deliver fascinating and advanced content to Dvision World.

Important details to note

Dvision Network launched a new NFT staking solution to improve the usability of the digital plots, and the team has hence already completed three successful LAND sales across several platforms. Furthermore, over 10,000 LANDs have been sold through platforms such as Shopify, Binance NFT, OpenSea, and NFTb.

The LAND staking function, in fact, is the first utility to link to virtual plots before the formal launch. The ‘MetaCities’ will use the LANDs to eventually introduce content created by individuals within Dvision Metaverse.

What else is there to know?

The Dvision team created DVG (Dvision Gold) a new rewards program. This is a digital reward currency which is needed to improve PETs and allow consumers to use P2E (Play to Earn) in Dvision World. The staking period can be broken down into three stages: one month, three and six months. Users will get a higher payoff if they stake longer. ‘Random Building Boxes’ will also be distributed beginning with the 90-day staking period. There is no difference in the type of building. However, users will always receive one regardless of whether they open a random box.

It is worth mentioning Dvision Network’s technological advancements in recent times. They have integrated Coinbase Wallet and Bitski with Wallet Connect, Wallet Connect, and Fortmatic which allow their metaverse users to have a simplified and varied access to their virtual world. Dvision Network previously announced that they are going completely on-chain and integrating Filecoin and IPFS data storage solutions to securely store their data.

About Dvision

Dvision Network, a blockchain-enabled NFT network, aims to be the best in business. Dvision utilizes its VR technology to create a cutting-edge metaverse environment that is accessible to all users worldwide. Designers, companies and all users can enjoy a dynamic and rewarding metaverse experience. Visit Dvision’s website, Medium, Telegram and Twitter channels for additional information and frequent updates.


This is a press release. This is a press release. Readers are responsible for their own research before making any decisions about the promoted company, or any of its affiliates. Bitcoin.com does not assume any responsibility for any loss or damage caused or alleged by the use or reliance of any content, goods, or services mentioned in this press release.

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