For far too long big corporations have dominated the entertainment industry by keeping total control over consumers and content creators. Blockchain, the technology that powers cryptocurrencies, and NFTs have opened a door to turn that model upside down and place power on fans and artists. This transformation process is at an early stage but could be a great leap forward in 2022 as content creators from all over the world begin to take note of NFTs and their potential to connect them with their audiences. These digital assets let fans live new experiences and provide artists with a direct income stream; with a straightforward method to monetize their work. The LABEL Foundation and the Ethereum-based infrastructure LABEL, backed by two of South Korea’s most prominent companies in systematic music education, CLESSON and OPENTRACK, seem poised to be a relevant piece of this digital revolution. Created to completely remove any third parties for content creators and their fans, LABEL has the tools to take the entertainment industry into the future. Including its own native NFT Market that lets content creators digitize their work in the form of these assets, and an incubation platform to receive funds from the community. In that sense, Intellectual Property (IP) distribution, promotion, and financial support have moved from big companies directly into the hands of content creators and LBL holders. The latter is LABEL’s native token...
Why Story (IP) Is Up Today?
